Union Assurance wins top SAFA award
Union Assurance PLC (UA), one of the foremost insurers in Sri Lanka
has brought honour to the nation by winning the most coveted South Asian
Federation of Accountants (SAFA) award for 'Overall Best Presented
Accounts,' in New Delhi, India recently.
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Chief Executive Officer Union Assurance PLC receives the most
coveted SAFA Overall Winner Award. Ajith Cabraal, Governor CBSL,
Pranab Mukherjee, Minister of External Affairs Government of
India, Chandra Wadhwa, President ICWAI, Indrajith Fernando,
President SAFA, Kunal Banerjee, Vice President, ICWAI are also
in the picture. |
SAFA is an Apex Body of the South Asian Association for Regional
Co-operation (SAARC) and the Regional Grouping of International
Federation of Accountants (IFAC), which represents over 170,000
accountants who are members of national chartered accountancy and cost
and management accountancy institutions in South Asia.
The SAFA Award for the 'Best Presented Accounts' appraises companies
on corporate performance, accounting policies and disclosures,
governance and stakeholder information, timeliness in issuing accounts,
holding Annual General Meetings and Annual Report presentation.
"Union Assurance was recognised by SAFA in the previous year as well
and won an award under the category for the 'Best Presented Accounts' in
the Non-Banking Financial Sector while the overall winner was Infosys
Technologies Limited, a global leader in IT and consulting with revenue
over US $3 billion..
This year, in addition to winning the first place in the same
category, we improved on our own performance to become the overall
winner of the 'Best Presented Accounts' Award," Deputy CEO/General
Manager Finance and Planning Dirk Pereira said. He said that the SAFA
Award reflects the high standard of reporting in the region.
He explained the reasons that Union Assurance had an edge over other
annual reports stating that a concerted effort was put into the
production of the report this year.
"While we improved our financial statements, we also disclosed the
key value drivers of the business, associated risks, corporate
governance practices and commitment to all stakeholder groups in a
transparent manner."
CEO Marina Tharmaratnam said that this award is a great tribute to
the excellent team work and dedication of the people at all levels as
well as to our customers and shareholders who have placed their trust
and confidence in the company.
Tharmaratnam said that Union Assurance is committed to the highest
standards of professionalism. |
