Softlogic Life Insurance PLC has officially announced its entry into the Bangladeshi insurance market through the acquisition of a majority stake in Diamond Life Insurance Company Limited.

In a formal disclosure to the Colombo Stock Exchange, Softlogic Life confirmed it has signed a Share Purchase Agreement (SPA) to acquire 60% of the issued shares of the Bangladesh-based life insurer. The transaction is valued at approximately USD 1.9 million.

The move marks a significant milestone in Softlogic Life’s regional expansion strategy. By securing a majority interest in Diamond Life, a licensed life insurer in Bangladesh, the Sri Lankan firm establishes a firm foothold in one of South Asia's rapidly growing insurance sectors.

In the announcement, Softlogic Life Chairman Ashok Pathirage emphasized that this acquisition is a key component of the company's broader goals for growth beyond its domestic borders. "The acquisition is in line with the Company’s regional expansion strategy and represents entry into the Bangladesh life insurance market," the statement noted.