Sri Lankan insurer Union Assurance has officially renewed its long-standing bancassurance partnership with NTB, reinforcing their strategic collaboration to deliver comprehensive financial and insurance solutions across the country.
The extension of the bancassurance agreement allows Union Assurance to leverage NTB’s broad network and customer touchpoints to offer life insurance products alongside financial banking services. Bancassurance agreements serve as a critical distribution mechanism within Sri Lanka’s financial services industry, streamlining access to insurance products through established banking channels.
Key Developments
- Union Assurance and NTB formally extend their strategic bancassurance agreement in Sri Lanka.
- The renewed partnership maintains the integration of life insurance services within NTB’s network.
- The collaboration supports broader financial distribution across the island nation.
Through this renewed agreement, Union Assurance and NTB will continue their joint operations, aiming to enhance product accessibility and customer experience across their combined service network in Sri Lanka.