Softlogic Life sets up growth roadmap with long-term capital from Norfund and OP Finnfund Global Impact Fund I

Sri Lanka’s top notch insurer Softlogic Life Insurance PLC has secured a USD 15Mn landmark 5-year Tier 2 loan facility from Norfund and OP Finnfund Global Impact Fund I, that will be the initial part and set the next phase of growth for the immensely successful life insurer that has established itself as the industry benchmark, whilst innovating and advancing technology, building AI capability with a view towards driving exponential valuation for key stakeholders. This latest step further reinforces Softlogic Life’s position as one of Sri Lanka’s most resilient and future-focused insurers, while signaling strong international investor confidence in the company’s long-term trajectory and the broader insurance sector.

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. It also reflects the company’s strong financial footing and unwavering operational stability, particularly in the protection space, enabling Softlogic Life to confidently scale its growth priorities and elevate its service excellence even in challenging macro-economic conditions. This demonstrates Softlogic Life’s reputation as a well-anchored, progressive insurer committed to advancing protection for Sri Lankans across all segments.

For the nine months ending 30 September 2025, 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. This reinforces its dominance in the health insurance sector where customer trust and convenience are paramount which the Company places as topmost priority with over 98% of claims settled within a single day, Softlogic Life continues to differentiate itself through fast and fair service, protecting the well-being of more than 1.3 million Sri Lankans.

Softlogic Life’s future strategy is anchored in a clear ambition to build one of the region’s most technologically advanced and customer-centric insurance businesses. The company’s roadmap focuses on deploying best-in-class innovations that expand access, elevate service standards, and deepen protection for all customer groups. This includes scaling AI-enabled underwriting, predictive analytics, rapid claims automation, and digital health solutions that enhance responsiveness and deliver measurable improvements in customer outcomes.

Fay Chetnakarnkul, Regional Director Asia at Norfund, 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.”

Ulla-Maija Rantapuska, Senior Investment Manager at Finnfund, 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.”

Tuomas Virtala, CEO of OP Pohjola Asset Management, said: “OP Finnfund Global Impact Fund I invested in Softlogic Life to help drive digital transformation and ensure sustained growth in insurance services in Sri Lanka and over time in wider region. Making positive social impact is an integral part of our investment strategy – we are looking forward to enabling insurance products accessibility to low- and mid-income population.”

“This facility strengthens our Tier 2 capital at a pivotal time in our growth journey. Our sustained financial performance, disciplined balance sheet management, and market-leading position have allowed us to attract long-term global capital even in a tightly constrained external environment. The partnership with Norfund and OP Finnfund Global Impact Fund I reflects deep confidence in the strength of our fundamentals and our ability to scale responsibly. It supports our expansion agenda and enhances our capacity to deliver protection solutions that create long-term value for Sri Lankan families,” said Softlogic Life Managing Director, Iftikar Ahamed.

On the international stage, Softlogic Life continues to break new ground. The company was awarded ‘AI Initiative of the Year’ at the 29th Asia Insurance Industry Awards (AIIA) 2025, becoming the only Sri Lankan insurer to be recognised at this year’s regional platform. Hosted by Asia Insurance Review, the AIIA is widely regarded as the region’s most prestigious recognition of excellence across insurers, reinsurers, brokers, and service providers. The 2025 edition attracted over 200 entries from top insurers and reinsurers across Asia, including AIA Group, Prudential Vietnam, Allianz Malaysia, Nan Shan Life Taiwan, and New China Life Insurance, competing across 17 categories. All entries were assessed by an esteemed international judging panel of senior leaders and digital transformation experts ensuring that each accolade reflected genuine innovation and leadership shaping the future of insurance in Asia.

This award reflects the company’s pioneering use of artificial intelligence across its value chain, from intelligent underwriting and risk modelling to automated claims processing and hyper-personalised customer experiences. These advancements have set new industry benchmarks and reaffirm Softlogic Life’s vision to redefine how life insurance is designed, delivered, and experienced in Sri Lanka.

The funding from Norfund and OP Finnfund Global Impact Fund I strengthens Softlogic Life’s capital position and supports its long-term strategy to scale sustainably, enhance operational resilience, and elevate service delivery. As one of Sri Lanka’s fastest-growing insurers, the company remains focused on building a stronger, more inclusive protection landscape that serves the evolving needs of millions of customers in South Asia and South East Asia.