Sri Lanka’s Asian Alliance to become Softlogic Life Insurance
ECONOMYNEXT – Sri Lanka’s Asian Alliance Insurance PLC is to change its name to Softlogic Life Insurance PLC following the Softlogic Holdings group’s deal to sell its general insurance unit to Canada-based FairFAx Financial group.
Asian Alliance Insurance said in a stock exchange filing that it has called for an extraordinary general meeting on 11 October 2016 to approve the change of name.
Softlogic Group retained the fast-growing life business of Asian Alliance when it entered into an agreement with FairFAx Financial group to sell the general insurance unit of Asian Alliance Insurance.
(COLOMBO, Sept 20, 2016)