Union Assurance, Sri Lanka’s premier Life Insurer, has clinched the ‘Innovating Women-Focused Initiatives’ award at the Satyn Magazine Women-Friendly Workplace Awards 2024. This accolade reflects on the Company’s steadfast commitment to cultivating a supportive workplace that empowers female team members.
Union Assurance champions a robust Diversity, Equity and Inclusion mandate that enables everyone to thrive. The Company’s structured strategic framework is designed to create a conducive work environment that transcends traditional norms and eliminates gender disparity with a special focus on actively fostering pathways for females in various roles, particularly in leadership and non-traditional positions.
A standout initiative in its women-focused initiatives is the GROW platform. GROW, which is an acronym for Growth and Development, Recognition, Opportunities and Well-being is a dynamic platform dedicated to supporting females both personally and professionally. Through GROW, Union Assurance offers tailored training and development opportunities, recognition initiatives, networking and mentorship programmes as well as resources aimed at enriching the financial, emotional and physical well-being of team members.
Union Assurance also takes pride in being a true equal-opportunity employer, committed to a merit-based system and upholding a strict zero-tolerance policy for discrimination. Moreover, as a John Keells Group company, Union Assurance aligns its initiatives with the Group’s Diversity, Equity, and Inclusion framework consolidated under the ONE JKH brand, which features a 100-day equal parental leave policy at the birth or adoption of a child. This initiative not only promotes shared parenting responsibilities, recognising the role of both parents in early childhood development but also aims to eliminate the discrimination associated with recruiting women due to potential concerns about maternity leave.
Commenting on this achievement, Nisansala Paranayapa, the Chief People Officer at Union Assurance, stated, “At Union Assurance, Diversity, Equity and Inclusion are core values that are deeply embedded in our Company culture and are reflected in everything we do. Our policies and frameworks have yielded impressive results, achieving true gender parity with 49% female representation—an accomplishment we are extremely proud of. This award reaffirms our unwavering focus and we extend our gratitude to Satynmag Women Friendly Workplace Awards powered by AICPA & CIMA for the recognition. As we look ahead, we remain dedicated to advancing our efforts with initiatives aimed at long-term impact.
Union Assurance is a subsidiary of John Keells Holdings PLC, 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. 28.6 Bn and a Life Fund of Rs. 71.6 Bn as of end June 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 3000-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.