Monday, October 2, 2023

Amana Takaful Insurance Inks Landmark Partnership with Union Bank for Bancassurance

Amana Takaful Insurance, Sri Lanka’s premier provider of the people-friendly insurance solutions, has entered into an MoU with Union Bank to offer bancassurance services to its customers. Union Bank has over 25 years of  service in the financial services sector in Sri Lanka with a diverse customer portfolio and an island-wide network of branches. This makes Union Bank an ideal partner for Amana Takaful Insurance to expand the reach of its general insurance solutions to a wider client base. Through this partnership, Amana Takaful Insurance will offer cost-effective general insurance solutions to Union Bank’s existing and future customers, including both individual and corporate clients, helping to further improve the presence and market penetration of generall insurance.

“We’re very pleased to partner with Union Bank, one of the most reputable and trusted private banks in Sri Lanka,” said, Shehan Feisal – CEO at Amana Takaful Insurance, expressing his pleasure and sentiments with regard to the partnership. “Working together, we will provide accessible and affordable general insurance solutions to Union Bank’s customers, while our complementary strengths will make for valuable synergies. Entering into this partnership further strengthens our commitment towards making general insurance solutions more widely available, and our belief in the importance of insurance for all. We look forward to collaborating with Union Bank and leveraging their extensive Islandwide network to access a more diverse customer-base and deliver cost-effective, personalized general insurance solutions backed by our well-recognized customer service standards.”

Indrajith Wickramasinghe – Director/CEO, Union Bank also commented on the partnership saying, “Partnering with Amana Takaful Insurance, allows us to provide more diverse bancassurance solutions to our customers. This partnership adds much value to the Bank’s bancassurance services as it further supports to adapt and meet the preferences of our growing customer portfolio. We look forward to working together to play off of each other’s strengths and deliver maximum value to our customers.

The partnership was formalized by the signing of an MoU between Amana Takaful Insurance and Union Bank. A special ceremony was held at the Union Bank premises to mark the occasion, with senior officials from both organizations present.


Left to Right

P C Wishwaka- Head of Leasing & Bancassurance, Omar Mustafa – Senior Manager Corporate Business Development, Rushdi  Zarook- Head of Legal, Zakir Kanaka- AGM Branch Sales Distribution, Shehan Faisal – CEO Amana Takaful Insurance, Indrajith Wickramasinghe – Director/CEO Union Bank, Ms Chaya Jayawardane – Senior Vice President Retail Banking, Manisha Fernando – Vice President  Head of Retail Liability Products & Alternate Channels- Retail Banking Department, & Dasun Siriwardana – Head of Bancassurance

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