FINANCIAL CHRONICLE

Encyclopedia of Financial News

Home |Latest | Business | Economy | Markets | World | Featured | Discussions

,

Softlogic Life Insurance Secures $15 Million Loans from Finnfund and Norfund

by

Sienna De Silva
in ,

Softlogic Life Insurance PLC, a key player in Sri Lanka’s insurance sector, has announced the signing of a subordinated loan agreement valued at $15 million. The funds will be provided by the OP Finnfund Global Impact Fund I Ky, in conjunction with the Finnish Fund for Industrial Cooperation Ltd (Finnfund), and the Norwegian Investment Fund for Developing Countries (Norfund).

The agreement outlines that Softlogic Life Insurance will receive $7.5 million each from OP Finnfund Global Impact Fund and Norfund. This financial boost is intended to facilitate the expansion of the company’s business operations and to enhance the Tier 2 capital of Softlogic Life Insurance.

The implementation of this loan agreement will be contingent upon obtaining the necessary regulations and approval from the Insurance Regulatory Commission of Sri Lanka (IRCSL).

(Colombo/Jan 21, 2025)

Latest News

  • Think Tank Urges Sri Lanka to Harmonize SME Support with Banking Stability

    Think Tank Urges Sri Lanka to Harmonize SME Support with Banking Stability

    FINANCIAL CHRONICLE – A prominent think tank has warned that calls for government intervention in credit enforcement could destabilize Sri Lanka’s financial system. The Advocata Institute emphasized that advocating for artificial interventions in credit markets could lead to policies that undermine growth mechanisms, which are crucial for the country’s economic recovery. Small and medium enterprises

    Read more

  • Sri Lanka Unveils Ambitious Vision as ‘Next Dubai’ with Tax Incentives to Woo UAE Investors

    Sri Lanka Unveils Ambitious Vision as ‘Next Dubai’ with Tax Incentives to Woo UAE Investors

    Sri Lanka is extending tax holidays of up to 15 years and positioning Colombo Port City as a burgeoning financial and trade hub, aiming to attract investors from the UAE amid a backdrop of renewed political and economic stability, according to a senior minister. Chathuranga Abeysinghe, Deputy Minister of Industry and Entrepreneurship Development, informed Gulf

    Read more