Softlogic Life Insurance PLC has officially completed its acquisition of 100% of Allianz Life Insurance Lanka (life insurance business), after securing regulatory approval from the Insurance Regulatory Commission of Sri Lanka (IRCSL).
The deal marks a key milestone in the company’s expansion strategy, following the initial announcement made on 26 March.
Following the acquisition, Allianz Life Insurance Lanka will become a wholly owned subsidiary of Softlogic Life Insurance PLC and will soon be rebranded as SL Insurance Lanka, operating under the Softlogic Life group.