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Softlogic Life completes 100% acquisition of Allianz Life Insurance Lanka
July 14, 2025
|Daily FT
SOFTLOGIC Life Insurance PLC has successfully completed the acquisition of 100% of the shares of Allianz Life Insurance Lanka Ltd., (Life Business), following the receipt of regulatory approval from the Insurance Regulatory Commission of Sri Lanka (IRCSL).
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The transaction marks a significant milestone, following the initial announcement on 26 March.
Softlogic Life recorded Gross Written Premiums (GWPs) of Rs. 31.574 billion as at December 2024, with a market share of 17.2%, and continued the robust tone with a growth of 25% in the first quarter of 2025. As Sri Lanka's second-largest life insurer, protecting over 1.3 million lives, this strategic acquisition enables the company to expand its footprint and strengthen its market position, whilst delivering unparalleled value to its policyholders.
Following the completion of the acquisition, Allianz Life Insurance Lanka Ltd., will become a fully-owned subsidiary of Softlogic Life Insurance PLC and will soon change its name and operate as SL Insurance Lanka Ltd., a subsidiary of Softlogic Life Insurance PLC.
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