Union Assurance Plc engages in the provision of provision of insurance business. It operates through the Policyholder Fund and Shareholder Fund segments. The Policyholder Fund segment covers participating, non-participating, universal life, unit linked, and non-unit linked products. The Shareholder Fund segment focuses on assets belonging to the shareholders. The company was founded on January 8, 1987 and is headquartered in Colombo, Sri Lanka.