Friday, June 2, 2023

Softlogic Life to share its impressive growth story with Investors on 3rd April 2023 at Shangri La

Sri Lanka’s 2nd largest life insurer, Softlogic Life, will host an Investor Forum on 3rd April at Shangri La. The event will showcase the performance of the Company and the strengths of the Life Insurance Industry, highlighting the role that the Company has played towards changing the landscape in offering protection to all segments of Sri Lankan society. The forum will deliver a platform for Softlogic Life’s leadership and shareholders to engage in meaningful discussions of the company’s operations, financial performance, growth trajectory and future plans. 

Recognizing the importance of maintaining strong relationships, ensuring transparency and accountability with all its valued stakeholders, the Investor Forum is a significant milestone for Softlogic Life. The event will allow investors to garner detailed information on the company’s business activities and prospects, engaging with senior leaders such as Managing Director Iftikar Ahamed, Deputy Chief Executive Officer Indu Attygala and Chief Financial Officer Nuwan Withanage. 

Chief Financial Officer Nuwan Withanage

Softlogic Life Managing Director Iftikar Ahamed said, “We are pleased to be hosting this forum thereby providing our valued stakeholders an opportunity to directly engage with us and learn more about our business. As a company, we believe in transparency and accountability and are committed to keeping our investors informed of our progress and plans for the future. We hope this event will help us build stronger relationships with the investing community and demonstrate our commitment to their long-term success.”

Despite macroeconomic challenges hampering the industry’s growth, Softlogic Life continued to record superior performance in a crisis-affected business landscape, surpassing renowned industry giants. During FY22, the company reported a 10-year Compound Annual Growth Rate (CAGR) of 28% of GWP, while the industry’s 10-year GWP CAGR growth was 14%. In the same review period, Softlogic Life posted a Gross Written Premium (GWP) of Rs. 23 Billion, with an increase in top-line growth of 15% compared to the previous year. 

The company also recorded an impressive Return on Equity of 25% and Earning per share of LKR 7.15 after providing a one-off provision for impairment. The recurring earnings per share for 2022 increased to LKR 12.85 from LKR 5.61 per share.

The informative Investor Forum will provide additional insights into the Company’s performance, product portfolio, strategy and other aspects.

About Softlogic Life 

Softlogic Life Insurance PLC is a subsidiary of Softlogic Capital PLC and is part of the Softlogic Group, which is recognised as one of Sri Lanka’s most diversified conglomerates with interests in Healthcare, Retail, ICT, Leisure, Automobiles and Financial Services. Significant stakeholders in the company include global investors Leapfrog Investments.

Caption – Managing Director Iftikar Ahamed and Deputy Chief Executive Officer Indu Attygala.

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