Leapfrog invests in life insurer, Softlogic Life

LeapFrog Investments, a UK-based investor, this week announced a US$$12 million investment in Softlogic Life Insurance PLC, purchasing the shares of FMO, the Dutch development Bank.

In a media re l e a s e LeapFrog said Softlogic Life is one of Sri Lanka’s fastest growing life insurers, providing Sri Lankans with individual life and health, group life, and other policies. The main shareholders of the company will now comprise Softlogic Capital, DEG and LeapFrog Investments.

“The team, products and high growth of Softlogic Life make for an outstanding company. We are thrilled to see them join the LeapFrog portfolio,” said Dr. Andrew Kuper, Founder and CEO of LeapFrog Investments. “This investment reveals our positive view of Sri Lanka’s longterm trajectory, and its financial services industry. The deal also caps the best year of deployment in the history of our firm.”

Softlogic Life, a top five player, has established itself as a leader in providing quality life insurance products to Sri Lankans. The company leads the market in customer-centric product innovation including tailor- made products such as a worldwide cashless hospital settlement product integrating more than 60 local hospitals, doorstep doctor visits and medical testing.

“We are excited about the next wave of growth for Softlogic Life and our ability to continue to accelerate our market- growth strategy in par tnership with the LeapFrog team and the insurance and financial services expertise they bring to the table,” said Ashok Pat h i r a g e, C h a i r man Softlogic group. “LeapFrog has a reputation for partnering to achieve channel expansion, as well as to help solidify strategic relationships that underscore growth – two continued areas of focus for the Softlogic Life business. We hope that this is the first of many investments in Sri Lanka and with the Softlogic Group.”