Softlogic Life powers through 1H 2025 with Rs.18.7bn GWP, grows 29%

Softlogic Life reported another robust half-year performance, posting a gross written premium (GWP) of Rs.18.7bn for the six months ended June 30, 2025, marking a 29% year-on-year increase and securing the highest absolute GWP growth in the industry of Rs.4.2bn. 

Profit after tax (PAT) reached Rs.1.2bn, delivering a return on equity (ROE) of 20%, while profit before tax was Rs.1.7bn. Standing firmly with market share of 18%, the company continues to outperform 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.58.1bn and total equity of Rs.11.9bn. Financial investments stand at Rs.48.7bn, 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.1,424mn. As at December 2024, Softlogic Life maintained a healthy ROE of 38.2% and a capital adequacy ratio 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.9.4bn in the first half, up 30% from the previous year. Of this, Rs.6.3bn was for claims relating to health and other protection covers, that excluded maturities and surrenders, compared to Rs.5.3bn in 1H 2024. This continued payout underscores Softlogic Life’s steadfast commitment to honouring its promise to policyholders and standing by its policyholders at all times. 

Softlogic Life Chairman Ashok Pathirage commented, “Our strong performance in the first half 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, on July 11, Softlogic Life Insurance successfully completed the acquisition of 100% of the shares of Allianz Life Insurance Lanka Limited, following regulatory approval from the Insurance Regulatory Commission of Sri Lanka. First announced on March 26, 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 commented, “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.”