Sampath Bank and Union Assurance Set to Revolutionise Sri Lanka’s Financial Services Landscape with Exclusive Bancassurance Partnership

Sampath Bank has yet again reinforced its position as a premier financial services institution by entering a strategic partnership with Union Assurance, Sri Lanka’s number one Bancassurance service provider, to deliver one-stop-shop financial and protection solutions to its customers. Through this partnership, a comprehensive range of exclusive life insurance solutions of Union Assurance will complement and be seamlessly integrated into Sampath Bank’s extensive product portfolio, providing bank customers with convenient, all-encompassing solutions for both their banking and life insurance needs.

The strategic partnership was formalised through an agreement signed on 30th January 2025. Leveraging Sampath Bank’s extensive branch network and advanced digital capabilities, Union Assurance’s offerings will be easily accessible to all customers, providing a seamless process to not only guarantee financial security but also enrich the long-term well-being of the bank’s customers. 

This collaboration brings together two leading players in Sri Lanka’s financial services sector, united by a shared commitment to excellence, innovation, and customer-centric solutions. Both Sampath Bank and Union Assurance have been deeply knitted into the lives of Sri Lankans for nearly four decades, empowering thousands to achieve their financial goals. Having extensive experience and a deep understanding of Sri Lanka’s diverse financial services landscape, these institutions bring unmatched expertise and insight to the partnership. 

The Managing Director of Sampath Bank, Ayodhya Iddawela Perera, stated, “As one of Sri Lanka’s leading financial institutions, we are proud to join hands with Union Assurance in this exclusive partnership, which marks a transformative chapter in the nation’s financial services landscape. 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.”

The Chief Executive Officer of Union Assurance, Senath Jayatilake, commented on the partnership, stating, "We are delighted to announce our exclusive bancassurance partnership with Sampath Bank, a leading force in Sri Lanka’s banking sector. 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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Photo Caption: 

Image 1: Seated from L to R: Ms. Himani Weerasekera, Chief Financial Officer – Union Assurance, Mrs. Wathsala Aluthgedara, Chief Partnership Distribution Officer – Union Assurance, Mr. Senath Jayatilake, Chief Executive Officer – Union Assurance, Mrs. Ayodhya Iddawela Perera, Managing Director – Sampath Bank, Mr. Ajantha de Vas Gunasekara, Chief Financial Officer – Sampath Bank and Mr. Tharaka Ranwala, Senior Deputy General Manager, Marketing, Customer Care & Card Centre – Sampath Bank. 

Image 2: The exchange of the agreement between Sampath Bank PLC and Union Assurance, with Mr. Senath Jayatilake, Chief Executive Officer – Union Assurance (third from left), and Mrs. Ayodhya Iddawela Perera, Managing Director – Sampath Bank (third from right). Also, present (L to R) are Mrs. Wathsala Aluthgedara, Chief Partnership Distribution Officer – Union Assurance; Ms. Himani Weerasekera, Chief Financial Officer – Union Assurance; Mr. Ajantha de Vas Gunasekara, Chief Financial Officer – Sampath Bank; and Mr. Tharaka Ranwala, Senior Deputy General Manager, Marketing, Customer Care & Card Centre – Sampath Bank.

About Sampath Bank

Sampath Bank PLC, incorporated in Sri Lanka in 1986, is a licensed commercial bank regulated by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange. The bank has established itself as a trusted partner, helping individuals, businesses, and communities achieve financial success. It offers comprehensive services, including personal banking, corporate banking, investment solutions, and digital banking. The bank aims to empower dreams and enrich lives by unlocking financial potential through innovation, integrity, and empathy while fostering sustainable growth and economic prosperity. Sampath Bank operates with 229 branches, over 450 ATMs, a network of 1,200+ agent banking locations, and online platforms, making banking more accessible for its customers. The bank remains dedicated to maintaining high ethical standards, nurturing a learning culture, and delivering value to its customers.

About Union Assurance

Union Assurance is a subsidiary of John Keells Holdings PLC (JKH), the largest conglomerate listed on the Colombo Stock Exchange, operating with over 80 companies in 7 diverse industry sectors. The Company has completed over three decades of success with a Market Capitalisation of Rs. 27.8 Bn and a Life Fund of Rs. 74.7 Bn as of end September 2024. Set to protect lives and enrich the well-being of all Sri Lankans, Union Assurance offers Life Insurance solutions that cover the health, investment, protection, retirement and education needs of Sri Lankans. With an island-wide branch network and a workforce that is over 4300+ strong, Union Assurance continues to invest in people, products and processes with a customer-centric focus to be responsive to emerging changes in the Life Insurance industry.