Softlogic Life’s top performers shine at glittering Life Sales Convention ‘17

With a fitting theme of ‘Leading Life with Pride’ which demonstrates  the distinction brought in for their policyholders, Softlogic Life Insurance PLC celebrated the achievements of their top Life Sales performers at the annual Life Sales Convention, held at the BMICH on 21st March 2017. Slated as the best sales event in the industry, the gala celebration hosted the highest achievers of the company for the year 2016 and rewarded them with Platinum, Gold, Silver and Bronze accolades. 

The lively and vibrant evening included the presence of the Chairman of Softlogic Life Insurance PLC, Ashok Pathirage, Deputy Chairman Paul Ratnayeke, Board Directors Sujeewa Rajapakse, Ray Abeywardene and Iftikar Ahamed, members of the senior management and other distinguished guests. 

A total number of 181 awards were distributed among winners. This year, two new awards – Most Popular Advisor and Best Customer Service – were introduced to symbolise exceptional client relationship and encourage Softlogic Life’s sales team members to constantly deliver outstanding service to their clientele. The newest additions to existing accolades further strengthens the untiring effort of top performers in offering outstanding customer service. Continuing its outstanding performance from 2015, Softlogic Life cherished a strong growth of profit and revenue by concluding 2016 on a buoyant spirit. The life insurance business entity recorded a Gross Written Premium (GWP) Income of Rs. 5.6 billion – increasing its growth by a significant 38%. The company has also recorded a profitability of Rs. 967 million and Return on Equity (RoE) of 48.1% amidst a challenging business environment. 

Softlogic Life has continuously shown growth and development potential. The company has achieved Annualised New Business Premium (ANBP) of Rs. 2182Mn, a growth of 27% YoY, whilst the market capitalisation increased 28%YoY to Rs. 7.7 billion from Rs. 6 billion in 2016. 

“Our strategic focus on growth supported by a thriving business model coupled with our strong technology and innovation capabilities has invigorated our operations in the fast growing life insurance industry,” Iftikar Ahamed, Managing Director of Softlogic Life Insurance, said to the audience.

Explaining the idea behind the ‘Diamond’ – the official logo of the awards ceremony, Chula Hettiarachchi, the Chief Operating Officer, stated: “A diamond comprises a myriad of features and qualities and they are perfectly mirrored in our company. The performance of our Life Sales team over the last year has further strengthened the many facets of our company. Softlogic Life is the diamond in the Sri Lankan insurance industry and it is leading life with pride.” 

Softlogic Life Insurance PLC is a subsidiary of Softlogic Capital PLC and is part of the Softlogic Group, which is recognised as one of Sri Lanka’s most diversified and fastest-growing conglomerates, with interests in Healthcare, Retail, ICT, Leisure, Automobiles and Financial Services. Significant stakeholders in the company also include FMO and DEG, who are rated ‘AAA’ Development Financial Institutions from the Netherlands and Germany, respectively.