31 March 2023 08:49 am
Sri Lanka’s second largest life insurer Softlogic Life will host an Investor Forum on April 3, at Shangri-La.
Recognising 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.
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 percent of gross written premium (GWP), while the industry’s 10-year GWP CAGR growth was 14 percent. In the same review period, Softlogic Life posted a GWP of Rs.23 billion, with an increase in top line growth of 15 percent compared to the previous year.
The company also recorded an impressive return on equity of 25 percent and earning per share of Rs.7.15, after providing a one-off provision for impairment. The recurring earnings per share for 2022 increased to Rs.12.85, from Rs.5.61 per share.
The informative Investor Forum will provide additional insights into the company’s performance, product portfolio, strategy and other aspects.