The partnership is said to be built on a shared commitment, with both entities having operated in Sri Lanka for around 40 years. Credit: Union Assurance/Sampath Bank.

Sampath Bank, a Sri Lankan lender, has forged a bancassurance alliance with one of the country’s largest life insurers, Union Assurance.  

Through this collaboration, customers of Sampath Bank will gain access to Union Assurance’s life insurance solutions, incorporated into the bank’s product portfolio.  

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This life insurance proposition will be made available via the bank’s branch network and digital capabilities. 

The partnership is said to be built on a shared commitment, with both entities having operated in Sri Lanka for almost 40 years. 

Union Assurance CEO Senath Jayatilake commented: “This partnership is a natural fit, aligned with each organisation’s ethos and values of placing customers at heart to deliver best-in-class solutions.  

“We are committed to leveraging our expertise, resources and advanced technology to offer tailored Life Insurance solutions that meet the diverse needs of Sampath Bank’s customers, providing a comprehensive one-stop approach to their financial planning”. 

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Sampath Bank managing director Ayodhya Iddawela Perera said: “By seamlessly integrating Union Assurance’s innovative Life Insurance solutions into Sampath Bank’s extensive product portfolio, we are empowering our customers with greater convenience, security and access to a broader range of financial and protection solutions.  

“This collaboration reflects our shared commitment to excellence and customer-centric innovation, enabling us to address the evolving needs of Sri Lankans more holistically”. 

Union Assurance is a subsidiary of John Keells Holdings, a conglomerate listed on the Colombo Stock Exchange.  

The insurer provides a range of life insurance solutions to meet health, investment, protection, retirement and education requirements.