Sri Lanka's Softlogic Life Insurance PLC has acquired a 60 per cent stake in Diamond Life Insurance Company Ltd., marking what the company says is Bangladesh's first acquisition in the life insurance sector.
The transaction represents Softlogic Life's first overseas expansion and its entry into Bangladesh, where insurance penetration remains low despite rising demand for financial protection products.
The company said it plans to leverage its experience in health insurance, claims management and digital operations to strengthen Diamond Life's market position and expand insurance coverage in Bangladesh.
"Bangladesh offers significant long-term growth potential driven by its large population, expanding middle class and increasing financial awareness," the company said in a statement issued on Monday.
The Diamond Life, a private life insurer, the main sponsor was a former central Chatra league Ishaq Ali Khan Panna who died while attempting to flee to Indian in august in 2024.
Another Ctg-based businessman who was president of FBCC also purchase a portion of the company but he also fled the country after the August 05 changeover.
