Sri Lanka's Softlogic Life Insurance has signed a share purchase agreement to acquire a 60% stake in Bangladesh's Diamond Life Insurance for approximately $1.9 million (Tk 23.4 crore).
The transaction represents the first-ever life insurance acquisition in Bangladesh, marking a significant shift in the South Asian insurance landscape.
The deal also serves as Softlogic's initial foray into the Bangladeshi market.
As the second-largest life insurer in Sri Lanka, Softlogic is leveraging this entry to expand its regional footprint beyond its home market.
The acquisition targets Diamond Life, a relatively new participant in the country's growing life insurance sector.
This move highlights increasing cross-border interest in South Asian financial services, where regional players are seeking growth opportunities in emerging markets.