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.

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

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 1.26 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.