Softlogic Life Insurance PLC has secured a $ 15 million landmark 5-year Tier 2 loan facility from Norfund and OP Finnfund Global Impact Fund I, which will be the initial part and sets the next phase of growth.
This investment aligns with Softlogic Life’s disciplined approach to capital management and its strategy to strengthen its balance sheet, expand national reach, and accelerate capability development across distribution, digital platforms, and policyholder services further enhancing the company’s long-term business expansion.
For the nine months ending 30 September, the company delivered Gross Written Premiums of Rs. 28.2 billion, marking a strong 29% year-on-year increase and the highest absolute GWP growth in the industry at Rs. 6.28 billion. Profit Before Tax reached Rs. 3.3 billion, supported by a Total Asset base of Rs. 59 billion and Total Equity of Rs. 11.6 billion. Softlogic Life continues to lead the market in capital resilience, posting a Return on Equity of 24% and maintaining a Capital Adequacy Ratio of 298%, well above the regulatory minimum of 120%.
The company’s operational strength is further underscored by its performance in claims management. During the period, Softlogic Life disbursed Rs. 13.5 billion in claims and benefits, including Rs. 9.5 billion related to health and other protection covers, compared to Rs. 8 billion in the previous year.
Norfund Regional Director Asia Fay Chetnakarnkul stated that: “Softlogic Life has demonstrated sustained growth, prudent capital management, and a clear commitment to expanding insurance access including microinsurance products in Sri Lanka. Our investment supports an organisation that plays a meaningful role in strengthening financial resilience for households across the country. We see significant long-term potential in Softlogic Life’s strategy and are pleased to partner with them as they enter their next phase of expansion.”
Finnfund Senior Investment Manager Ulla-Maija Rantapuska said: “OP Finnfund Global Impact Fund I targets significant positive impacts in addition to financial performance, and Softlogic Life is a strong example of this balance. Their leadership in digital innovation, health protection, and fast claims settlement positions them as an essential contributor to Sri Lanka’s insurance ecosystem. We look forward to supporting their continued growth and their efforts to expand access to high-quality protection solutions nationwide.”