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Asian Alliance changes name to Softlogic Life Insurance

Oct 11, 2016 (LBO) – Shareholders of Asian Alliance Insurance today approved a special resolution to change its name into Softlogic Life Insurance, the company said in a stock exchange filing.

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The move comes after Asian Alliance Insurance sold its stake in Asian Alliance General Insurance business.

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On 24th June 2016, the company agreed to sell its stake in Asian Alliance General Insurance to Fairfax Asia or another nominated member of the Fairfax Group for 1.

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26 billion rupees. The agreement also contained a condition that Fairfax Asia or another nominated member of the group should enter into an exclusive general insurance distribution agreement with Softlogic Holdings.