Union Assurance recognised for transparent reporting practices:

Reward for UA's achievements

Union Assurance PLC (UA) created history at the annual South Asian Federation of Accountants (SAFA) Awards, securing 2nd place overall for their 2008 annual report.

The report also won first place in the non banking financial services category and the company's corporate governance disclosures were adjudged the best in the South Asian region.

Currently in its 21st year of operation, UA has been continuously recognized at the SAFA awards, competing against some of the better known and highly prestigious companies, especially from India and Pakistan.

This is the third consecutive year that the company's annual report was recognised among the best reports in the region.

"We are very pleased to receive this recognition from SAFA," stated General Manager Finance and Planning Indika Prematunge.

"We are very conscious that we are in the financial services industry and as a result, we put a great deal of effort to ensure that our reports meet the information requirements of all our stakeholders as well as the public." Given that the principal objective of SAFA is to co-ordinate and guide efforts to evaluate technical, ethical and educational guidelines within the region, it is indeed an honour for UA that SAFA has recognised and rewarded its achievements.