Softlogic Life GWP grows 29% in 1H 2025 to Rs. 18.7 b

• Reports GWP growth of Rs. 4.2 b highest in the industry
• Return on Equity 20%; total benefits and claims reach Rs. 9.4 b
• Says market share expands to 18%

Chairman Ashok  Pathirage

Managing Director Iftikar Ahamed

Softlogic Life said it reported a Gross Written Premium (GWP) of Rs. 18.7 billion for the six months ended 30 June 2025, up 29% from a year ago, securing the highest absolute GWP growth in the industry of Rs. 4.2 billion.

Profit After Tax (PAT) reached Rs. 1.2 billion, delivering a Return on Equity (ROE) of 20%, while Profit Before Tax (PBT) was Rs. 1.7 billion. With a market share of 18%, the company said it has outperformed the market with its 10-year GWP CAGR reaching 26% compared to the industry’s 15%. 

Softlogic Life’s balance sheet recorded total assets of Rs. 58.1 billion and total equity of Rs. 11.9 billion. Financial investments stand at Rs. 48.7 billion, representing 84% of total assets. In recognition of this performance, the company declared an interim dividend of Rs. 4.50 per share, amounting to a total payout of Rs. 1,424 million. As at December 2024, Softlogic Life maintained a healthy ROE of 38.2% and a Capital Adequacy Ratio (CAR) of 298%, well above the regulatory requirement of 120%.

Being the largest health insurer in the market, Softlogic Life is at the forefront of addressing rising health risks including dengue, chikungunya, influenza, and other viral outbreaks, where the company demonstrated its unwavering commitment to policyholders, paying total claims and benefits of Rs. 9.4 billion in the first half, up 30% from the previous year, the company said. 

Of this, Rs. 6.3 billion was for claims relating to health and other protection covers, that excluded maturities and surrenders, compared to Rs. 5.3 billion in 1H 2024. This continued payout underscores Softlogic Life’s steadfast commitment to honoring its promise to policyholders and standing by its policyholders at all times, it said.

Softlogic Life Chairman Ashok Pathirage said: “Our strong 1H performance reflects the power of clear focus, disciplined execution, and a relentless commitment to standing with our customers. Backed by our strategic distribution, digital-first approach and innovation pipeline, we continue to drive sustainable growth and further strengthen our standing in life and health insurance.”

The company protects over 1.3 million Sri Lankans through its 770,749 active policies, underscoring its role as a vital pillar of financial security across the nation. Softlogic Life’s strong performance in the first half highlights its ongoing commitment to innovation, customer focus, and operational excellence, while reinforcing its resilience and enhancing value for stakeholders.

Building on this momentum, Softlogic Life Insurance PLC said it successfully completed the acquisition of 100% of the shares of Allianz Life Insurance Lanka Ltd on 11 July, following regulatory approval from the Insurance Regulatory Commission of Sri Lanka (IRCSL). First announced on 26 March 2025, this landmark transaction marks a strategic milestone in Softlogic Life’s growth journey, further reinforcing its forward trajectory and expanding its ability to deliver enhanced value to policyholders across Sri Lanka. This is the first time that a Life Insurance Company has acquired another Life Insurance Company in the Sri Lankan insurance industry.

Softlogic Life Managing Director Iftikar Ahamed said: “We remain optimistic about the prospects for Life and Health insurance in Sri Lanka. Our results in the first half of the year are a testament to our proactive mindset and the resilience of our team in driving sustainable business performance while delivering on our core purpose of protecting lives. The recent acquisition of Allianz Life Insurance Lanka Limited which is now a subsidiary of Softlogic Life Insurance PLC is part of that purpose that will enable us to extend our protection to even more Sri Lankans going forward. As we move ahead together, we will continue to innovate and challenge industry norms to drive a better quality of life for Sri Lankans.”

Continuing its track record of industry firsts, this reinforces Softlogic Life’s position as a progressive, tech-led insurer redefining industry standards. Going beyond strong performance, Softlogic Life has also reaffirmed its commitment to transparency, accountability, governance, and sustainability. At the 59th CA TAGS Awards 2024, the company earned a prestigious Top 3 placement among Sri Lanka’s leading corporates, becoming the only stand-alone company to achieve this milestone for the fourth consecutive year. In addition, Softlogic Life was honoured with the Bronze Award for Overall Excellence in Corporate Reporting, along with six other distinguished industry accolades, highlighting its consistent pursuit of corporate excellence.

The company was shortlisted by Asia Insurance Review for the “Digital Insurer of the Year” and “AI initiative of the Year” awards.