Janashakthi Insurance PLC and Union Bank of Colombo PLC (UBC) entered into an agreement that allows UBC customers convenient access to a multitude of Janashakthi's insurance solutions for individuals and corporates.
The Memorandum of Understanding (MoU) was signed at the new Union Bank head office premises on February 2 by Mr. Prakash Schaffter – Managing Director of Janashakthi Insurance PLC and Mr. Anil Amarasuriya - Director / CEO of Union Bank. This strategic tie-up will enable Union Bank's retail and Corporate clients access to obtain Janashakthi policies from 15 selected UBC branches.
Janashakthi Insurance PLC Managing Director Mr. Prakash Schaffter stated that "Janashakthi Insurance PLC is extremely happy to collaborate with Union Bank, which is one of Sri Lanka's fastest growing Banks and are confident this initiative will be well accepted by customers of Janashakthi Insurance as well as Union Bank ".
Union Bank Director / CEO Mr. Anil Amarasuriya stated that "the Bank recently moving to a new state-of-the-art head office signified another milestone in our promise for superior service and value, offering a range of financial solutions under one roof. As the preferred Bank for small and medium enterprises UBC continues to create value to customers and this agreement is yet another value addition to the banks comprehensive product portfolio which provides customers a convenient solution for all insurance requirements".
Janashakthi Insurance PLC is a major player in Sri Lanka's insurance market and has introduced numerous innovative policy options in the recent past, such as Janashakthi Full Option, Vehicle Emergency Policy, Hoteliers combined and Janashakthi Life Unlimited which have garnered acclaim locally and internationally.
Union Bank is one Sri Lanka's fastest growing Banks, focusing on the Small and Medium Enterprise and Retail sectors with diversified business interests in Asset Management and Finance with the acquisition of National Asset Management Ltd (NAMAL) Sri Lankapremier asset management company and The Finance and Guarantee Company Limited (TF&G) a pioneering asset management company with 50 years heritage.