Softlogic Life Insurance PLC, formerly known as Asian Alliance Insurance, is an insurance company in Sri Lanka. The company was founded in 1999 as Asian Alliance Insurance, a joint venture between Asia Capital PLC and Richard Pieris & Company. Softlogic Holdings and its subsidiary Softlogic Capital PLC acquired a controlling stake in the Asian Alliance Insurance in 2011 for LKR3.3 billion. The company segregated its life and non-life insurance businesses and then divested its non-life insurance to Fairfax Financial. The company changed its name in 2016 to Softlogic Life Insurance. The company is a constituent of the S&P Sri Lanka 20 Index. Softlogic Life is one of the LMD 100 companies in Sri Lanka. The company is also ranked among the 100 most valuable brands in the country.
History
Asian Alliance Insurance was founded in 1999 as a joint venture between Asia Capital PLC and Richard Pieris & Company.[2][3] Softlogic Holdings and its subsidiary Softlogic Capital PLC acquired a 73.5% of stake in Asian Alliance Insurance for LKR3.3 billion in 2011. Asia Capital PLC was the seller.[4]