Business
Union Assurance is redefining financial literacy in Sri Lanka
‘Blog It Symposium’
The ‘Blog It Symposium’ hosted by Union Assurance on March 27 at the BMICH, had drawn writers, students and professionals alongside literary giants like Ashok Ferrey. The event was less a corporate gathering and more a cultural movement, symbolising a quiet revolution in Sri Lanka’s journey toward financial empowerment.
Financial literacy, often confined to jargon-filled pamphlets or intimidating technical writeups, has found an unexpected ally in storytelling with Union Assurance’s Blog It initiative, launched years prior, which recognises a universal truth: people connect with stories, not statistics. By inviting bloggers and writers to explore themes like life insurance, savings, and generational wealth through personal narratives, the initiative transforms complex concepts into relatable tales. A mother’s account of securing her child’s education amid economic uncertainty, a young entrepreneur’s journey from debt to stability, or a retiree’s challenges in the rest of his or her life were the seeds of stories that resonated deeply with the writers in the audience especially because they are writing for a society whose financial planning is often overshadowed by day-to-day struggles.
Ashok Ferrey, the keynote speaker asked the audience,” Why do we write? “We write,” he suggested, “to express ourselves in ways that evade the rigid pathways of ordinary consciousness.” Imagine, he said, slipping into a disguise to go to a fancy dress party; that lets you be someone else. Writing, in Ferrey’s vision, operates similarly—it is a costume party for the psyche. “When we write, we shed the constraints of our daylight selves. The keyboard or pen becomes a mirror that reflects not who we are, but who we might invent,” he said.
“These aren’t just blogs,” remarked Lal Medawattegedara, novelist and symposium panelist. “They’re survival guides written in the language of the people.”
Rather than lecturing, Union Assurance has created a platform for dialogue. Winning entries, published in newspapers and shared across social media, turns anonymous writers into local influencers. A gem merchant from Ratnapura, whose blog on gem buying and selling would go viral, encouraging young people in the area to follow suit. A Colombo college student’s poem about her family’s medical debt would inspire a community savings drive. “Financial literacy isn’t about telling people what to do,” said Union Assurance CMO Mahen Gunarathna. “It’s about giving them the tools to write their own futures.”
As the 2025 symposium concluded, the message was clear: financial literacy is not a solo journey but a shared narrative.
In a world where money talks, Union Assurance has mastered a profound lesson: sometimes, the most powerful currency is a story well told. Sri Lankans are not just learning about finances—they’re rewriting their financial destinies with the support of Union Assurance.
By Sanath Nanayakkare
Dr. R. A. D. Jeewantha was honoured as the Most Innovative Dentist of the Year at the Business World International Awards, 2025. Organised by the Business World International Organisation, the award ceremony was held recently at the Mount Lavinia Hotel. A graduate of the Faculty of Dental Sciences, University of Peradeniya, Dr. Jeewantha has built a reputation as one of Sri Lanka’s most respected and forward-thinking dental surgeons. After gaining vital experience in Government hospitals, including the Teaching Hospital in Karapitiya, he also served at a leading private hospital before launching his own practice—Doctor J Premium Dental Care in Delkanda, Nugegoda.
His dental clinic is known for offering advanced, patient-focused treatments in restorative dentistry, cosmetic procedures, and implantology, using state-of-the-art technology. Dr. Jeewantha is especially skilled in dental implants, having completed the American Residency Course in Dental Implantology at Roseman University, accredited by the American Academy of Implant Dentistry. Dr. Jeewantha holds fellowships from the International College of Continuing Dental Education (FICCDE) and the Pierre Fauchard Academy (USA). His advanced skills include modern root canal treatments using Mineral Trioxide Aggregate (MTA) for both surgical and non-surgical procedures.
He has completed international trainings in digital dentistry, full-arch implantology techniques like All-on-Four and Zygomatic Systems, and smile design using digital 3D scans. He has participated in global dental events such as the Asia-Pacific Dental Congress and completed training at institutions including the University of Manchester and North Western State Medical University in Russia. His courses have covered everything from intraoral scanning to managing tooth wear. He has previously received many local and international awards. Dr. Jeewantha also serves the community as a Justice of the Peace for All Island.
The Foundation in Biological Studies at IIHS provides a unique alternative for students looking to fast-track their health careers after their Ordinary Level (O/L) exams. This programme offers a direct route to global health careers, bypassing traditional A/Ls. With over 1,000 students already advancing to universities in Australia, the UK, and Finland, IIHS has positioned the course as a reliable launchpad for careers in fields like medicine, nursing, biomedical sciences, and digital health. “This programme is a game-changer, offering a transformative journey into global healthcare education,” said IIHS CEO Dr. Kithsiri Edirisinghe.
Seylan Bank has recorded a Profit before Tax (PBT) of LKR 4,199 million in Q1 2025, marking a 13.36% growth compared to LKR 3,704 million in Q1 2024. Profit after Tax (PAT) rose by 20.29%, reaching LKR 2,761 million, up from LKR 2,295 million in the corresponding period of 2024.
Despite a decrease in net interest income by 8.37% due to market interest rate reductions, the bank’s net fee-based income grew by 13.83%, driven by fees from loans, cards, remittances, and other services. Total operating income for the quarter was LKR 11,258 million, a 3.83% decrease from the previous year, while operating expenses rose by 4.62%, largely due to increased personnel and other operating costs.
Impairment charges were significantly reduced by 83.17%, totaling LKR 262 million, reflecting the bank’s solid credit quality and proactive provisions. The bank’s impaired loan ratio improved to 1.98% from 2.10% in Q1 2024, with a provision cover ratio of 80.74%.
Seylan Bank’s total assets grew to LKR 785 billion, with loans and advances reaching LKR 469 billion and deposits totaling LKR 647 billion. The bank’s capital adequacy ratios remained strong, with the Common Equity Tier 1 Capital Ratio at 13.67% and Total Capital Ratio at 17.64%.
In addition to its financial performance, Seylan Bank continued its commitment to education, opening 16 more “Seylan Pahasara Libraries,” bringing the total to 281 libraries across the island.Fitch Ratings upgraded Seylan Bank’s National Long-Term Rating to ‘A+(lka)’ with a Stable Outlook in January 2025, further underscoring the bank’s financial stability and growth trajectory.
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