Published: 12:09 AM, 20 July 2026
Sri Lanka's Softlogic Life Insurance PLC enters Bangladesh
Bangladesh's life insurance sector has entered a new chapter as Sri Lanka's Softlogic Life Insurance PLC acquired a 60 percent stake in Diamond Life Insurance Company Ltd., marking the country's first-ever acquisition in the life insurance industry.
The landmark transaction marks Softlogic Life's first international expansion and its entry into Bangladesh, a market of more than 170 million people with significant growth potential, according to a press release.
Insurance penetration in Bangladesh remains relatively low despite a growing middle class and rising financial awareness, creating strong demand for protection and long-term savings products. Softlogic Life said it aims to leverage its expertise in health and life insurance to help bridge this gap. Over the past decade, Softlogic Life has grown into one of Sri Lanka's leading life insurers, driven by product innovation, customer-centric services and strong execution. The company recorded a 10-year compound annual growth rate (CAGR) of 26 percent in gross written premiums, compared with the industry average of 16 percent, while consistently maintaining a return on equity above 30 percent. During the past four years, the insurer doubled its gross written premium, profit before tax, profit after tax and earnings per share.
It also strengthened its capital base through the acquisition of Allianz Life Insurance Lanka and strategic investments from international development finance institutions Norfund and OP Finnfund.
Softlogic Life said its leadership in health and protection insurance is underpinned by technology and AI-driven claims processing, enabling faster and more transparent claim settlements.
The company said this customer-focused approach has helped it build Sri Lanka's largest health insurance business and gain recognition on Bloomberg alongside leading global insurers.
The insurer plans to bring the same model to Bangladesh by introducing customer-centric products, technology-led operations, efficient claims management and strong governance standards.
The acquisition also signals the beginning of Softlogic Life's broader regional expansion strategy, with Bangladesh serving as its first overseas market.
The company believes its experience in innovation, claims leadership and customer service can create long-term value in one of South Asia's fastest-growing insurance markets.
