MoU between Union Assurance and Union Bank
Insurance giants Union Assurance PLC (UA) signed a Memorandum of
Understanding with Union Bank to facilitate insurance solutions to their
bank's clientele.
The MoU was signed between Union Assurance CEO Dirk Pereira and Union
Bank Chief Manager Operations Anil Amarasuriya. Bancassurance an
increasingly popular feature in the banking/insurance industry which is
gaining significant growth is a profitable venture to all its
stakeholders which entails selling of insurance and banking products
through the same channel.
Commenting on the agreement, CEO Dirk Pereira UA said, "We've been
promoting bancassurance predominantly as it has much potential for
growth in Sri Lanka as we have seen in our previous tie ups. We hope to
work in unison with Union Bank to ensure the best of outcome to all its
patrons."
Building this venture on the fundamental pillars of Union Assurance
is being the most consistently trustworthy insurer and providing
convenience and ease to their stakeholder while being transparent in all
their transactions perfectly translates to the values Union Bank holds
which will ensure superior services to all its clientele.
UA has previously tied up with seven banks in providing similar
bancassurance services and is looking forward to revolutionizing the
industry as one of its key players. |