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Union Assurance tops rankings as #1 Transparent Life Insurer in Sri Lanka

Published

2 years ago

2024/05/19

Union Assurance, Sri Lanka’s premier Life Insurer, has been recognised as the #1 Life Insurance Company in the latest Transparency in Corporate Reporting Assessment 2023 (TRAC) published by Transparency International Sri Lanka (TISL). The assessment, which evaluates corporate disclosure practices among 125 public limited companies in Sri Lanka, covers reporting on six key sections: anti-corruption programmes, organisational transparency, domestic financial reporting, country-by-country reporting, gender and non-discrimination reporting, and reporting on procurement related to government contracts and tenders. Union Assurance emerged as the frontrunner in the Life Insurance sector with an impressive TRAC score of 8.75 out of 10, demonstrating significant transparency across the board. This score surpasses the overall average TRAC score of 5.85 out of 10 in the assessment.

As a subsidiary of John Keells Holdings, Sri Lanka’s largest conglomerate, Union Assurance upholds rigorous governance policies. The Company has implemented a comprehensive governance structure and multiple initiatives, including anti-fraud, whistleblower, and anti-corruption policies. Union Assurance also enforces a strong code of conduct that guides and protects stakeholders, emphasising a zero-tolerance approach to offences.

Furthermore, the Company takes pride in being an equal opportunity provider, maintaining a work environment free from discrimination based on race, religion, gender, age, nationality, social origin, disability, sexual orientation, gender identity, political affiliation, and opinion.

Union Assurance, in alignment with the John Keells Group’s people-related policies, has implemented several crucial initiatives to foster a supportive work environment, including a robust gender policy, equal opportunity and non-discrimination policy, anti-sexual harassment policy, and the ONE JKH initiative. Among the ONE JKH initiatives, Union Assurance actively addresses unconscious biases and promotes inclusivity with the introduction of the progressive 100-day equal parental leave policy, recognising the importance of supporting both mothers and fathers in their parenting roles. Union Assurance’s unwavering focus on gender parity has yielded impressive results, achieving true gender balance with 51% female representation.

Moreover, Union Assurance encourages female employees to take on non-traditional roles, fostering increased participation and leadership opportunities for women within the organisation. The recent launch of the ‘Grow’ programme on International Women’s Day 2024 exemplifies Union Assurance’s commitment to empowering female employees. This initiative aims to strengthen women’s leadership capabilities and enhance their decision-making roles across the Company. By nurturing talent and promoting diversity, Union Assurance continues to set a positive example in the corporate landscape.

In reference to the ranking, Rehan Ismail, Assistant Vice President of Risk and Compliance at Union Assurance, expressed pride in the Company’s consecutive recognition by TISL. “This acknowledgement underscores our commitment to exemplify transparent practices within the Life Insurance sector and across Sri Lanka’s business landscape. In today’s digital era, stakeholders have easy access to information through technology, enabling data-driven decision-making, with transparent corporate reporting playing a pivotal role in this context. At Union Assurance, we firmly believe that doing the right thing is essential to leading as a responsible corporate citizen. As a result, we continually adapt our processes and structures to meet stakeholder needs, ensuring optimal value for all,” he stated.

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Flood warning issued to the Divisional Secretariat Divisions of Ganga Ihala Korale, Udapalatha, Doluwa, Udunuwara, Yatinuwara, Gangawata Korale, Harispattuwa, and Pathadumbara

Published

8 hours ago

2026/09/20

Priyan

Due to heavy rainfall received in the upper catchment areas of the Mahaweli River over the past few hours, there is a risk of minor flooding in the low-lying areas surrounding the Mahaweli River within the Divisional Secretariat Divisions of Ganga Ihala Korale, Udapalatha, Doluwa, Udunuwara, Yatinuwara, Gangawata Korale, Harispattuwa, and Pathadumbara.Residents living in the above mentioned areas and motorists using roads passing through these areas are urged to exercise extreme caution and remain highly vigilant regarding the prevailing situation.

Furthermore, residents living in close proximity to the Mahaweli River in these areas are advised to remain highly alert to the situation and take all necessary precautions to protect themselves from any potential flooding.The relevant disaster management authorities are requested to take all necessary measures in response to this situation.

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Landslide Red Alerts issued to the districts of Kandy, Kegalle and Nuwara Eliya

Published

8 hours ago

2026/09/20

Priyan

The National Building Research Organisation [NBRO] has issued landslide Red Alerts to the districts of Kandy, Kegalle and Nuwara Eliya effective from 14:00 hrs on 20.09.2026 To 14:00 hrs on 21.09.2026

Accordingly,
LEVEL III [RED] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Pasbage Korale in the Kandy district, Dehiowita, Aranayake, Deraniyagala, Mawanella and Yatiyanthota in the Kegalle district and Kothmale West, Kotmale East, Ambagamuwa and Norwood in the Nuwara Eliya district

LEVEL II [AMBER] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Padukka in the Colombo district, Nagoda, Thawalama and Neluwa in the Galle district, Bulathsinhala, Palindanuwara, Walallawita and Agalawatta in the Kalutara district, Ganga Ihala Korale in the Kandy district, Bulathkohupitiya and Kegalle in the Kegalle district, Akuressa and Pitabeddara in the Matara district, Thalawakele in the Nuwara Eliya district and Pelmadulla, Ratnapura, Ayagama, Kuruwita and Ratnapura in the Ratnapura district.

LEVEL I [YELLOW] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Seethawaka in the Colombo district, Niyagama and Baddegama in the Galle district, Mirigama in the Gampaha district, Ingiriya in the Kalutara district, Udapalatha and Yatinuwara in the Kandy district, Galigamuwa, Warakapola and Ruwanwella in the Kegalle district, Kotapola, Pasgoda and Athuraliya in the Matara district, and Eheliyagoda, Kalawana and Elapatha in the Ratnapura district.

News

Development projects can deliver results to the people more quickly when the political authority and the public service work together towards a common goal – PM

Published

10 hours ago

2026/09/20

Priyan

Prime Minister Dr. Harini Amarasuriya stated that development projects can deliver results to the people more quickly when the political authority and the public service work together towards a common, people-oriented objective.

The Prime Minister made these remarks while participating in a discussion held on Friday [September 18] at the Western Province Council Auditorium to review the progress of the development project to rehabilitate Rathmalana Kandawala Road and the drainage system on either side of the road, within the Dehiwala–Mount Lavinia Municipal Council limits in the Colombo District.

The project, which commenced on September 10, 2026, is scheduled to be completed before June 30, 2027. Implemented by the Provincial Road Development Authority (PRDA), the project includes the construction of a bridge at a cost of Rs. 64 million, the rehabilitation of the drainage system at a cost of Rs. 930 million, and the rehabilitation of the road at a cost of Rs. 115 million.

The Prime Minister also paid special attention to the progress of the responsibilities assigned to the Western Province Council, the Irrigation Department and the Ratmalana Divisional Secretariat in accordance with decisions taken at the previous committee meeting. Attention was also given to the current status of the plans being carried out by the Sri Lanka Land Development Corporation (SLLRDC), as well as the construction and maintenance activities being undertaken by the Provincial Road Development Authority (PRDA).

Commending the expedite and commendable progress of the project, the Prime Minister particularly appreciated the commitment demonstrated by officials of the relevant government institutions to work in close coordination with one another and in collaboration with the political authority.

The Prime Minister also emphasised the importance of taking measures well in advance to control flooding and minimise its impact on Colombo and several other districts in view of the rainy weather that may affect the Western Province during the latter part of this year.

The meeting was attended by the Chairman of the Colombo District Coordinating Committee and Member of Parliament Lakshman Nipuna Arachchi, Chairperson of the Ratmalana Divisional Coordinating Committee and Member of Parliament Samanmalee Gunasinghe, Chairman of the Roads Sub-Committee of the Colombo District Coordinating Committee Dewananda Suraweera, Mayor of the Dehiwala–Mount Lavinia Municipal Council Parakum Shantha, Chief Secretary of the Western Province K.G. Pradeep Pushpakumara, along with a number of government officials.

[Prime Minister’s Media Division]