ECONOMYNEXT – Sri Lanka’s Allianz Life will trade under the name SL Insurance Lanka Ltd, as its fully owned subsidiary after wrapping up is acquisition, Softlogic Life said.
Softlogic Life’s gross written premium was 31.574 billion rupees in the year to December 2025 with a 17.2 percent market share. In the first quarter premiums were up 25 percent, the statement said.
Softlogic was the country second largest life insurer, with 1.3 million life policies and the acquisition will help expand its footprint and strengthen its market position, the firm said.
The acquisition represented a commitment to build a resilient, future ready business, Softlogic Life Chairman Ashok Pathirage said in a statement.
“This acquisition reflects our long-term vision to build a resilient, future-ready insurance business that delivers unmatched value to Sri Lankans,” Chairman Ashok Pathirage said in a statement.
Softlogic Life said t pioneered the use of artificial intelligence, data analytics, and automation to meet customer needs, improve distribution, and risk management
Softlogic Life Managing Director Iftikar Ahamed said the acquisition will bring together the strengths of both teams to build a more customer-centric insurance provider.
Allianz Life Insurance Lanka Ltd has been a part of Allianz Lanka since 2008. Allianz Insurance Lanka Ltd., the general insurance business remains a fully-owned subsidiary of Allianz SE, head quartered in Munich, Germany.
Commenting on the acquisition, Prashant Grover, CEO and Country Manager of Allianz Insurance Lanka Limited, stated “We extend our best wishes to Softlogic Life on the successful acquisition of our life business.
“Allianz Insurance Lanka Limited, the General Insurance arm of Allianz Lanka remains fully committed to the Sri Lankan market,” Prashant Grover, CEO and Country Manager of Allianz Insurance Lanka Limited was quoted as saying in the statement. (Colombo/July12/2025)
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