Sri Lanka: Softlogic Life to expand overseas

| 13 Apr 2023

Softlogic PLC's life insurance arm, Softlogic Life, is planning to venture into the region.

A subsidiary of Softlogic Capital and part of the Softlogic group, the firm has plans to venture into the countries like Bangladesh and Indonesia, Softlogic Life Managing Director Iftikhar Ahamed said recently at an investor forum showcasing the company operations, financial performance, growth trajectory, and future plans.

He said the plan is to acquire companies in those countries and get into their markets. “Acquiring companies and getting into these markets will make more sense for us at this moment,” he said.

The inaugural investor forum called “reimagining” showed that Softlogic Life recorded a good performance in a crisis-affected business landscape, surpassing industry giants.

About the share purchase offer for Softlogic Life, Mr Ahmed said, “The matters that the shareholders need to deal with, we will let them make those decisions. We are here today to showcase what we have performed and developed and to show the value of this company.”

When asked about the homogeneous nature of the industry and consolidation discussion that’s going on in this sector, he said that Softlogic Life has unique selling propositions which differed from the other entities.

He also added that the company has been offered different such firms but they were not interested due to the similar nature of business that they are in as compared with the industry, reported Business Times.