We are Sri Lankan at heart. And, global in our dealings. Our decade’s worth of experience in the Sri Lankan insurance market is only amplified with the global expertise of our parent company, Fairfax Financial Holdings. So, be it your house, your car, your family or your business our job, is to ensure that you are not burdened with the financial loss that comes with uncertainties in life.
Union Assurance commences operations with the combined portfolio’s of Aitken Spence, Carson Cumberbatch, Mercantile Credit and Whitall Boustead
Invests LKR 80 million to upgrade computer systems
Launch of Asian Alliance Insurance PLC with general insurance operation
Commencement of life operations
Total insurance premiums exceeded LKR 1 billion
Asian Alliance captures 3% of market share
1st private insurer to commence operations in Jaffna
The company achieves the LKR 1 billion GWP mark
Deployment of home grown general insurance IT system
John Keells Holdings gains 81% control of UA
Acquisition of the company by the Softlogic Group – a diversified conglomerate
Company splits into 2 business units Union Assurance PLC (UAL) and Union Assurance General Limited (UAG). Accordingly UAG is formed with a 78% ownership with the Fairfax Group and 22% with Union Assurance PLC
Transferred general insurance operations to the newly formed fully owned subsidiary Asian Alliance General Insurance
Union Assurance General completes the 100% share acquisition of Asian Alliance General Insurance.
Union Assurance General completes the 100% share acquisition of Asian Alliance General Insurance, and AAGI accordingly becomes a member of the Fairfax group.
Fairfirst Insurance is born with the combined strengths of Union Assurance General Insurance and Asian Alliance General Insurance