News & market updates

Union Assurance (UAL.N0000) hosted the 'Blog It Symposium 2025', the first-ever life insurance sector event to promote financial literacy, concluding with an awards ceremony; the Blog It initiative grew from 500 entries in 2022 to 1,100+ in 2024.

Union Assurance (UAL.N0000) hosted 'Blog It Symposium 2025', the life insurer's first sector-wide symposium and part of its Blog It initiative, which saw 1,100+ entries in 2024. Union Assurance is a subsidiary of John Keells Holdings PLC (JKH.N0000).

Union Assurance announced a 12% Universal Life dividend rate for the financial year 2024, above the 10% minimum guaranteed. The company said the higher rate reflects strong financial performance and disciplined financial management.

Union Assurance (UAL.N0000) hosted its National Business Launch at Monarch Imperial, attended by senior management and over 500 agency members, recognising top advisers with regional awards (Moratuwa, Homagama, Malsiripura) and naming Chanaka Appuhamy 2024 Premier Champion who received a luxury vehicle.

Union Assurance (UAL.N0000) was named Best Life Insurance Company in Sri Lanka at the 5th Emerging Asia Insurance Conclave and Awards 2024. The company highlighted its Clicklife mobile app and digital/AI features, enabling direct policy purchases and a digital rewards ecosystem.

Colombo market opened lower as the ASPI fell 0.71% (115 points) and the S&P SL20 dropped 0.69% amid low turnover of Rs. 824.6 million, with banks and blue-chip counters leading the decline.

Dividend · Rs 5.00 · XD Mar 11, 2025

First And Final dividend of LKR 5/share; XD 2025-03-11; record 2025-03-11; payable 2025-04-01; FY 31 December 2024

Union Assurance launched its Suwamaga Mobile Screening Unit on 27 Nov 2024 to provide free diabetes screenings, reaching over 7,600 people via the mobile unit and over 16,000 overall. Of those recommended for HbA1c tests, 30% were pre-diabetic and 20% diabetic, with urgent cases referred to hospitals.

Union Assurance hosted a recognition program at Waters Edge, Battaramulla, honoring its MDRT-qualified Insurance Relationship Officers. The event included a knowledge-sharing session by Sudeera Godabaddage and an awards ceremony for top-performing IROs.

John Keells Holdings (JKH) reported Q3 FY2024/25 Group EBITDA of Rs.14.28bn (+4%; adjusted EBITDA +10% to Rs.14.89bn), with Cinnamon Life hotel opened in Oct 2024 and the West Container Terminal first phase nearing operations in Feb 2025.

John Keells Holdings (JKH) reported Group EBITDA of Rs. 14.28 billion in Q3 FY2024/25, up 4% YoY (10% excl. one-offs), and declared a second interim dividend of Rs. 0.05 per share. The group opened the 687-key Cinnamon Life hotel, progressed the West Container Terminal, and listed 1,079,375,000 new shares after a debenture conversion.

Sampath Bank and Union Assurance signed an exclusive bancassurance partnership on 30 January to distribute Union Assurance’s life insurance products through Sampath Bank’s branch network and digital channels.

Sampath Bank signed an exclusive bancassurance partnership with Union Assurance on 30 January 2025 to integrate Union Assurance's life insurance products into Sampath Bank's product suite and distribution. The deal will leverage Sampath's branch network and digital capabilities to distribute the insurance offerings.

Union Assurance PLC entered into a long-term referral bancassurance partnership with Sampath Bank PLC to distribute life insurance products, according to a stock exchange filing on 30 Jan 2025. The internally funded deal gives Union Assurance exclusive access to Sampath Bank's distribution network.

Union Assurance (UAL.N0000) rewarded over 60 top Bancassurance performers with an exclusive four-day overseas tour to Thailand. CEO Senath Jayatilake joined the group; the trip included participants' families and activities such as a Royal Galaxy dinner cruise.

Union Assurance (UAL.N0000) signed a Memorandum of Understanding with the University of Sabaragamuwa's Faculty of Management Studies to provide knowledge-sharing, training for entry-level professionals and internship opportunities for students.

Union Assurance (UAL.N0000) won multiple global awards, including 'Most Innovative Life Insurance Service Provider Sri Lanka–2024', 'Most Digitally Forward Life Insurer–2024' and 'Most Loved Insurer Brand Sri Lanka–2024'. The company highlighted digital initiatives — the Clicklife app, Digital Loyalty Rewards, financial underwriting automation with Munich Re and e-MER medical records that cut policy issuance to 15 minutes.

Union Assurance won the highest number of national and category awards at the 15th National Forum for Life Insurance Advisers (NAFLIA) Conference, sweeping multiple Best Adviser, Best Supervisor and Best Branch Manager awards.

Union Assurance reported a 16% increase in gross written premium to Rs. 15.3 billion for the nine months to Sept 2024 and paid Rs. 5.6 billion in claims. Net investment income rose 9% to Rs. 8.7 billion, AUM reached Rs. 89.4 billion, CAR was 308%, market cap rose 16% to Rs. 27.8 billion and dividends of Rs. 5.2 billion were paid.

Colombo Stock Exchange closed higher as ASPI rose 0.88% to 13,164 and the S&P SL20 gained 1.06% to 3,917, with turnover Rs5bn and Rs2.7bn in banking stocks. The banking sector drew local investor interest after the government set a deadline for the ISB exchange, with Sampath Bank among top turnover names.

Union Assurance launched the 'Suwamaga Mobile Screening Unit' on 27 Nov 2024, a fully equipped mobile truck providing free diabetes screening nationwide. The unit will offer testing, health reports and personalised guidance to improve early detection and reach underserved areas.

Colombo Stock Exchange closed down: ASPI fell 1.00% to 12,982 and S&P SL20 fell 1.49% to 3,860, with turnover Rs7bn led by banks and a net foreign outflow of Rs211mn. Top negative contributors included John Keells, Commercial Bank, Sampath and Browns, while DFCC and CDB were top turnover generators.

Union Assurance (UAL.N0000) signed a Memorandum of Understanding with the University of Sri Jayewardenepura to provide training programmes and internship opportunities for undergraduates, aligning academic programmes with industry needs.

John Keells Holdings (JKH) reported Q2 FY2024/25 group EBITDA of Rs.8.09bn, down 4% YoY; excluding pre-opening costs for the Cinnamon Life hotel, EBITDA rose 8% to Rs.9.28bn. The 687-key Cinnamon Life opened on 15 Oct 2024, a rights issue raised Rs.24.04bn, and WCT-1 port works are progressing.

John Keells Holdings PLC (JKH) reported 2Q group revenue up 20% to Rs.76.96 billion and group PBT of Rs.2.27 billion, and declared a first interim dividend of 5 cents per share. Group EBITDA fell 4% due to substantial pre-opening costs for the Cinnamon Life hotel; excluding City of Dreams, 2Q EBITDA rose 8%.

Union Assurance was named 'Best Digital Life Insurer – Sri Lanka 2024' by Global Business and Finance Magazine. The company cited its Clicklife app, digital loyalty rewards, financial underwriting automation and e-MER digital medical reports that cut policy issuance to about 15 minutes.

Colombo Stock Exchange closed up: ASPI +0.47% to 12,357 and S&P SL20 +0.95% to 3,663, with turnover Rs 2.3bn. Top turnover stocks included John Keells (JKH 203.00), Sampath (84.00), Commercial Bank (110.25), Hayleys (103.00) and Hemas (81.00); net foreign inflow was Rs 118m.

ASPI closed down 4 points at 12,309 while S&P SL20 rose 2 points, with turnover of Rs.1.5 billion and foreign investors net selling Rs.109.4 million. ACL, UAL and HELA were among gainers while CFIN, LMF, LIOC, HAYL, RCL and SPEN were notable losers; Capital Goods led turnover.