Asian Alliance Insurance was founded in 1999 as a joint venture between Asia Capital PLC and Richard Pieris & Company.

[5] Richard Pieris accepted Softlogic Capital's mandatory offer and divested its 25% stake in Asian Alliance Insurance.

[7] Softlogic sold Asian Alliance General Insurance to Fairfax Financial in 2016 for LKR1.1 billion.

[8] In the same year, the company was renamed Softlogic Life Insurance.

[9] Softlogic Life Insurance was featured in Forbes Asia's Best Under a Billion list in 2019.

[10] Softlogic Life Insurance was added to the S&P Sri Lanka 20 Index when an ad hoc index rebalancing occurred due to Commercial Leasing and Finance merging with LOLC Finance in March 2022.