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DateLine Sunday, 6 April 2008

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Union Assurance wins another accolade

Union Assurance PLC won yet another accolade recently when the company was adjudged the winner in the medium-scale category at the ACCA Sri Lanka Sustainability Reporting Awards 2007.

This award further highlights the emphasis that UAPLC places on accountability, integrity and transparency in its dealings with all stakeholder groups, a media release from the company said.

The ACCA Sustainability Reporting Awards rewards companies that report environmental, social and economic issues transparently and accountably in a manner that would give all stakeholders a holistic view of the company and its operations.

The global judging criteria which is also used for Sri Lanka, revolves on the three-pronged axis of completeness, credibility and communication and is based on the Global Reporting Initiative (GRI) Guidelines, with the sustainability reporting awards rolled out across 35 countries by ACCA since 2005.

In commenting on the company's annual report, the judges said that Union Assurance was one of the few reports to have external assurance, and emphasized how customer requirements are integrated into product design.

CEO Marina Tharmaratnam who accepted the award from Chief Guest Minister of Export Development and International Trade, Prof G. L. Peiris said, "As an insurance company, it is important to conduct our business in a manner which ensures long-term success, rather than focus solely on short-term results.

This award reflects that we have the right processes and practices to deliver on our long-term commitments to policyholders, employees, shareholders and all other stakeholders."

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