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Union Assurance PLC is an insurance company in Sri Lanka. Union Assurance was founded in 1987 and was listed on the Colombo Stock Exchange in the following year. In 2009, John Keells Holdings acquired a controlling stake in the company. The company divested its general insurance business to Fairfirst Insurance and focused on life insurance in 2015.
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Incorporated in 1993 as Union Assurance Company plc, the company was relaunched as Ensure Insurance plc in 2016. It was acquired in 2018 by Allianz [2] and rebranded as Allianz Nigeria Insurance plc. In 2017, the company generated gross written premiums of N7.67billion, representing an 86% growth over 2016 (N4.19billion).
Union Mutual Life Insurance was incorporated in 1848 in Maine. [8] The company issued its first policy, which covered the life of founder and company president Elisha B. Pratt for $5000 (equivalent to $183,120 in 2023), on October 1, 1849. [8] Union Mutual's principal office at the time was located in Boston, Massachusetts, where Pratt resided.
AIL also developed a college scholarship program for children of union members, and the company contributed to the strike funds of unions engaged in lawful strikes. The company was positioned as the only 100% union insurance company, and termed the phrase, “Be Union-Buy Union." In 1963, AIL's income was about $6 or $7 million. [4]
John Keells Holdings PLC (JKH) is a Sri Lankan multinational conglomerate company. It has business interests in hotels and resorts management, port, marine fuel and logistics services, IT services, manufacturing of food and beverages, supermarkets, tea, stock broking, life insurance, banking, and real estate.
UIA Mutual was a mutual insurance company in the United Kingdom, providing general insurance products to members of the trade union movement and other not-for-profit organisations. It was a member of the Association of British Insurers , authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority .