News & market updates

Colombo Stock Exchange closed flat, ASPI up 0.07% to 21,187.22 with turnover of 2.07 billion rupees; capital goods led turnover at 866 million rupees.

Softlogic Life Insurance PLC completed the acquisition of a 60% controlling stake in Bangladesh's Diamond Life Insurance for approximately $1.9 million. The deal finalises the company's entry into the Bangladesh life insurance market following a June 18 purchase agreement disclosure.

SLFRS 17 (IFRS 17) adoption will reshape Sri Lanka's life insurance sector, with reporting for the first two quarters deferred until 30 Sep 2026; insurers say the standard will shift focus from premium volumes to insurance service revenue, CSM visibility and protection products, and may encourage consolidation.

CEOs of Softlogic Life (AAIC.N0000), Union Assurance (UAL.N0000) and HNB Life (HASU.N0000) warned inflation, weak household incomes and potential taxation of insurance proceeds are limiting Sri Lanka's life-insurance growth and urged tax incentives and regulatory support.

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Softlogic Life Insurance PLC (AAIC.N0000) has signed an agreement to acquire a 60% stake in Bangladesh's Diamond Life Insurance for about $1.9 million. The deal marks Softlogic Life's entry into the Bangladeshi life insurance market and the company will hold a controlling interest upon completion; shares closed yesterday up Rs. 2.50 at Rs. 94.

Softlogic Life Insurance PLC reported Rs. 40 billion in gross written premiums in 2025 and Rs. 12.3 billion in Q1 2026 (37% YoY), with a 19.3% market share and Rs. 76 billion in assets as at Mar 31, 2026. The company launched 'Health for Life' lifetime health coverage and noted its acquisition of Allianz Life Lanka plus a $15m capital investment from Norfund and OP Finnfund.

Softlogic Life (AAIC.N0000) reported Rs.40bn Gross Written Premiums in 2025 and Rs.12.3bn GWP in Q1-2026 (37% YoY), with 19.3% market share and total assets of Rs.76bn as at March 31, 2026. It announced the Allianz Life acquisition, a USD15m DFI investment, digital investments and launched 'Health for Life', a lifetime health coverage product.

Softlogic Life Insurance PLC (AAIC.N0000) has signed an SPA to acquire 60% of Bangladesh-based Diamond Life Insurance for about USD 1.9 million. The purchase gives Softlogic Life a majority stake and entry into the Bangladesh life insurance market as part of its regional expansion.

Softlogic Life Insurance (AAIC.N0000) has agreed to buy 60% of Bangladesh’s Diamond Life Insurance for $1.9 million, marking the company’s entry into the Bangladesh life insurance market.

The IRCSL hosted the OECD–ADBI roundtable in Colombo and unveiled a new vision and roadmap aiming to double Sri Lanka's insurance penetration to 3% of GDP by 2030/2035. The two-day forum brings policymakers and industry together to discuss regulatory reform, climate risk and data-driven insurance solutions.

Colombo stocks recovered after the CBSL hiked policy rates by 100bps, with the ASPI up 0.11% at 22,199.23 and turnover around Rs.1.86bn. DIAL, CCS, BREW, CARS and NDB were top positive contributors; VLL saw net foreign buying while AAIC saw net foreign selling and Food & Beverage led turnover.

Colombo market closed down 0.85% at 22,175.14 after the CBSL raised the policy rate by 100bps and amid heightened Middle East tensions. Foreign investors were net sellers of over Rs.3bn, turnover was Rs.4.93bn with AAIC crossings accounting for about Rs.3.1bn.

Colombo Stock Exchange closed higher as the ASPI rose 0.54% to 22,294.71 and the S&P SL20 gained 0.61%. Top contributors included Dialog Axiata, Ceylon Cold Stores, NDB and Bairaha Farms while Hemas, Lion Brewery and Sampath Bank lagged; Jetwing Symphony declared a final dividend of Rs0.50 and closed at Rs14.30 (+2.88%).

Colombo Stock Exchange closed down as the ASPI fell 0.85% to 22,175.14, with market turnover at Rs.4.92bn and insurance stocks leading turnover at Rs.3.18bn. Top gainers included Ceylon Beverage (+5.20%), Lion Brewery (+3.06%) and Ceylon Guardian (+5.43%), while Sampath Bank, Hayleys and HNB were top decliners.

Softlogic Life has partnered with Dialog Axiata's Doc990 to introduce a fully cashless, real-time OPD claims facility for its corporate health and life insurance clients, with eligible users receiving a 35% discount on Doc990 channeling fees. Claims are processed instantly at point of care, removing reimbursement paperwork and upfront payments.

Softlogic Life Insurance PLC has partnered with Pan Asia Bank to offer Pan Asia Privilege Banking customers international health insurance reinsured by AXA, with annual limits of $100,000–$10m and access to over 1.9 million medical providers worldwide.

Colombo market ended marginally higher as the ASPI rose 0.06% to 22,639.81 despite net foreign selling of Rs.2.52 billion. Softlogic Life (AAIC) and Ceylon Tobacco (CTC) topped foreign selling and AAIC led turnover with a ~Rs.1.3bn crossing; insurance, food & banking dominated activity.

The Insurance Association of Sri Lanka launched a revamped official website (www.iasl.lk) to improve digital access, industry insights, regulatory updates and member services. The platform is mobile-responsive, searchable and aimed at enhancing transparency and stakeholder access.

The Insurance Association of Sri Lanka launched a revamped official website (www.iasl.lk) to boost digitalisation, transparency and stakeholder access for member insurers. The mobile-responsive site features a searchable resource library, regulatory updates and refreshed content for member companies, policyholders and regulators.

Colombo Stock Exchange closed lower as the ASPI fell 1.35% to 20,360.27 and the S&P SL20 slid 1.06% to 5,691.97. WindForce rose after winning a 10 MW/40 MWh BESS contract worth Rs1.73bn and was the top positive contributor, while Colombo Dockyard and John Keells were top negatives; turnover was Rs2.37bn.

New Media Solutions emerged as the most awarded corporate communications agency at the Effie Awards Sri Lanka 2026, winning two Silver Effies for Daintee, two Bronze for Zesta and multiple Merit finalist recognitions for campaigns for Softlogic Life Insurance.

Softlogic Life reported FY25 GWP of Rs.40.1bn (27% YoY) and PAT of Rs.4.7bn with ROE at 39%, completed the acquisition of Allianz Life Lanka and secured a USD 15m capital investment from Norfund/OP Finnfund.

Softlogic Life (AAIC.N0000) secured a USD 15 million five-year Tier 2 loan from Norfund and OP Finnfund Global Impact Fund I to bolster capital and fund growth. For the nine months to 30 Sep 2025 it reported Gross Written Premiums of Rs.28.2bn (+29% YoY), Profit Before Tax of Rs.3.3bn and a Capital Adequacy Ratio of 298%.

Softlogic Life Insurance PLC secured a $15 million five-year Tier 2 loan facility from Norfund and OP Finnfund to strengthen capital and support growth. For nine months to 30 Sep 2025, GWP rose 29% to Rs.28.2bn, PBT was Rs.3.3bn and Capital Adequacy Ratio 298%.