Brand Finance PLC valuation:
Union Assurance one of the most valuable brands in Sri Lanka
Union Assurance was valued as one of the most valuable brands by
Brand Finance PLC. The rationale behind the valuation is that the UA
brand has the power to influence customer demand, trade distribution,
staff loyalty, supplier terms, investor sentiment,transforming business
performance and business returns, and was endorsed by Brand Finance PLC
by awarding Union Assurance with a “AA” brand rating.
General Manager Marketing and Distribution Rukman Weeraratne
receiving the AA Brand Rating Certification.
General Manager Marketing and Distribution, Rukman Weerarathne said
that the Union Assurance brand has a rich history for more than 20
The brand has been able to win the hearts of its consumers, and the
employees of the company have been its brand ambassadors. Union
Assurance today is one of the most trusted insurance companies in Sri
“Our new brand promise was created to deliver an unparalleled level
of trust. Trust is the most important factor in our business since
insurance is a long term agreement and the consumer looks for a trusted
partner to work with, said Weerarathne.
“At Union Assurance, we have two lines of business. Our extensive
internal and external research showed that in general insurance, the
people primarily look for convenience, while in the life insurance
sector, they look for transparency. We combined the values of
transparency and convenience with respectfulness from the corporate
level, which meant that the customer wanted policies that can be bought
and claimed easily, along with those that were easy to understand. For
life insurance, transparency was key, with customers needing the
assurance that what they saw is what they got,” said Weeraratne.
Clarity is vital in life insurance, he said, as it was a long term
agreement with the firm so the customer needed to know what he would end
up with clearly, in the end. “Along with a respectful approach for all
parties including our customers and shareholders, the three values
within the core value of trust is what makes our new promise powerful
and relevant. This will undoubtedly make the UA brand stronger and more
customer appealing said Weeraratne.
Ceylinco Life to reward 10,000 plus policyholders
Three cash bonus recipients with the senior management of
Ceylinco Life. (From left): Deputy Chairman, R Renganathan M M K
Wijayapala, Priyani Jayawardena and A M M Awn, Deputy Chief
Executive Director Thushara Ranasinghe and Director Palitha
Members of Ceylinco Life’s 5000 strong sales team will home deliver
Rs. 32 million cash bonuses to over 10,000 policyholders. The bonuses
will be in the form of immediately encashable cheques, the company said.
A feature this year is that a new segment of policyholders — those who
have completed 20 years with the company — will be among the recipients
of cash bonuses. In previous years beneficiaries were those who had
completed 10 or 15 years.
“The fact that these bonuses are paid in respect of a year that was
one of the most challenging ever, demonstrates the strength of the
company,” Ceylinco Life Deputy Chairman R. Renganathan said, pointing
out that these loyalty-based cash bonuses are in addition to the Rs 1.39
billion in annual bonus already paid out by Ceylinco Life this year.
Donates computers to the Centre for Children with
Special Needs :
Standard Chartered supports ‘SERRIC’ project
Standard Chartered Bank, earlier this month, donated computers and a
printer to the Sri Lanka Army’s Senehasa Education, Resource, Research
and Information Centre (SERRIC) as part of the bank’s Diversity and
Inclusion (D and I) program.
The centre, with capacity to accommodate 150 children will provide
in-house accommodation to 40 and aims to offer specialized programs and
education to children with special needs. ‘This is another initiative by
the bank which forms a part of its wider Corporate Responsibility
agenda. ‘This is particularly notable contribution as it is aimed at
supporting children with special needs, an area that needs urgent
attention’, said Country Technology Manager Lucian Devotta.
The centre’s curriculum will include a wide range of therapies, such
as physiotherapy, occupational therapy, hydrotherapy, speech therapy and
multi-sensory approach and courses and workshops on music and movement,
and library services that are expected to improve special needs
The bank’s donation will go toward the centre’s setting up of a new
IT section through which SERRIC plans to introduce IT training to their
Sampath Bank opens in Peliyagoda and Hanwella
Executive Director/ CEO, Sampath Bank Harris Premaratne speaking
at the Peliyagoda Branch opening. Executive Director/ COO
Aravinda Perera and Manager of the Branch Nalin Lokuge look on
Sampath Bank expanded their branch network to 137 this week, with the
opening of Peliyagoda and Hanwella branches. The Peliyagoda Branch
located on Negombo Road, Peliyagoda and the Hanwella Branch located at
Pahala Hanwella, Hanwella are the 136th and the 137th branches of the
Sampath Bank. Electronically linked to the island-wide network, the
fully fledged branches are set up with up-to-date technologies.
PC House initiates ‘Health over Wealth’ campaign
The management of PC House has introduced a novel health maintenance
program to help employees maintain a high standard of health awareness
and healthier living practices.
S. H. M Rishan
PC House Pvt Ltd Chairman S.H.M. Rishan said, “We have always
maintained that our greatest strength is our dedicated and motivated
workforce. It is their hard work that has propelled us to such great
heights and this has taken a lot of long working hours and dedication.
Around the world, employees of big companies have shown a tendency to
‘burn out’ or simply put - run out of steam - due to health issues
aggravated or caused by focusing too much on careers and less on health.
It is this situation that we hope to avoid.
By educating our employees on various aspects of health awareness we
believe that we are giving them the power to control their lives and
contribute their knowledge to their friends and families, which will
begin a chain reaction that will spread throughout the community”.
The program will educate employees on unhealthy dietary habits,
obesity, low exercise level and conditions such as Diabetes,
Hypertension and cardiovascular diseases. The program will use
recognized health parameters such as body mass index (BMI), waist-to-hip
ratio (WHR) and HBA1c value to evaluate the health level of employees
and ascertain what risk they face. By identifying potential risks or
developing conditions, employees will be better able to control these
conditions and avoid complications in the future.
PC House Director Human Resources, Iude Fernando said, “Healthy
individuals are better motivated, more able to perform and generally
Health is far more important than wealth, and we believe that our
stakeholders deserve the very best we can provide them with, starting
with the empowerment to better their lives and avoid unpleasant and
dangerous health complications.
Our employees and stakeholders have gone a long way toward helping us
maintain out edge over the competition, this is one way in which we can
give back and make a long-term impact on the lives of those who have
made this company what it is”.
donates computers to Jaffna Wembady Girls’ High School
The Federation of Information Technology Industry Sri Lanka (FITIS)
donated computers and necessary software to the Jaffna Wembady Girls’
High School recently. FITIS Chief Executive Officer Damith Hettihewa
said that the recent holding of the Mini Infotel Jaffna organized by
FITIS on the school premises prompted this donation. Here, Hettihewa
donating computers and software to the Jaffna Wembady Girls’ High School
Principal K. Ponnambalam.
Grameenphone selects Intec solution
Grameenphone, the largest network operator in Bangladesh, has
deployed Intec’s market-leading InterconnecT software to assist in
regulatory compliance while driving operational efficiencies.
Grameenphone, whose network offers coverage for nearly 98 per cent of
Bangladesh’s population, is widely acknowledged as one of the most
innovative operators in the region; the first operator to introduce
pre-paid services, its entire network is EDGE/GPRS enabled, allowing
access to high-speed Internet and data services from anywhere in the
There are currently nearly three million EDGE/GPRS users on the
Grameenphone network. Following deregulation of the Bangladesh wholesale
telecoms market, interconnect traffic levels continue to rise
significantly. By implementing Intec’s market-leading InterconnecT
Grameenphone will significantly increase efficiency of settlement for
domestic, inter-operator and international traffic, essential for a
dynamic operator such as Grameenphone dealing with both traditional and
next-generation IP based products and services, on a single system.
This includes multi-party settlement with a variety of third party
service providers, for services such as content downloads and
“With changing regulatory requirements accurate and prompt
intercarrier reports are vital”, Chief Corporate Affairs Officer and
Acting CFO, Grameenphone Raihan Shamsi said.
“Not only is Intec’s expert technology among the best in class and
gives us improved operational efficiencies, but we also enjoy relations
that are core to our own values”, he said.
“Grameenphone is an operator of great integrity, operating in an
increasingly competitive market. It is an honour to continue to work
with the team, using our expertise and powerful, world-class solutions
that make a tangible difference to operational efficiency”, Intec VP for
Asia Pacific Graeme Paynter said.