Sri Lanka’s number one health insurer Softlogic Life Insurance PLC garnered top recognition at the CMA Excellence in Integrated Reporting Awards 2019, becoming the most awarded insurance company of Sri Lanka at this year’s edition and the majority of the Awards were fought out against the leading Corporate including conglomerates and Banks in the Country. The awards ceremony was organized the Institute of Certified Management Accountants of Sri Lanka (CMA), to promote both listed and unlisted Sri Lankan companies as well as state -owned enterprises and small and medium enterprises to undertake integrated reporting which is beneficial to both investors and stakeholders.
Softlogic Life walked away with four awards including Overall Bronze Award for Best Integrated reporting in Sri Lanka, Insurance Sector Gold Award, winner of the Ten Best Integrated Reports in Sri Lanka and Merit Award for Best Integrated Thinking- which made Softlogic life to win four awards at the same awards night. This was the fifth consecutive year which Softlogic Life has been conferred with the prestigious ‘Ten Best Integrated Reports in Sri Lanka’ accolade.
Expressing his views of the company’s recognition, Softlogic Life Managing Director, Iftikar Ahamed said, “Integrated reporting is all about communicating the strategy of the organisation, together with its prospects, performance and corporate governance framework in a more precise manner. In this day and age when businesses are shifting more towards integrated reporting, it will enable companies to tell their story, enable us to go for better reporting and instil integrated thinking at every level of our businesses. Becoming the most awarded insurance company at the CMA Awards 2019 as well as being recognizing amongst the top three Reports in the country for Integrated Reporting in Sri Lanka further validates the steps we have taken as an organization to improve the way we communicate with our valued stakeholders and provide reliable and timely information on our performance.”
“I would like to thank the finance team at Softlogic Life for their tremendous effort in preparing the Annual Report to meet such high standards, and we are committed to continuing our efforts in adopting highest integrated reporting standards to produce informative financial reports in future,” Ahamed further opined.
The 2018 Annual Report of Softlogic Life, presented under the theme ‘Top of the Line’ presents a balanced and concise analysis and an overview of the Company and its external environment, strategy, resource allocation, business model, performance, corporate governance and prospects of the Company. The report has closely followed guiding principles and fundamental concepts contained in the International Reporting Framework including Intational Integrated reporting framework (IIR) issued by Ingrated reporting council to best serve the information needs of stakeholders.
Softlogic Life pushed the boundaries of innovation further when it unveiled their video version of Annual Report for the second straight year in 2018, making it Sri Lanka’s first video annual report. It encouraged key stakeholders of the Company to engage with the content of their comprehensive integrated annual report, which combines information on Softlogic Life’s financial performance and non-financial information such as sustainability, social and governance components. The vedio version of Annual repiort allowed the Company to communicate value creation process with performance in simplified manner to create significant interest amongst our valued stakeholders novel way.
Chief Finance Officer of Softlogic life, Nuwan Withanage commenting on the continued success of Softlogic Life at the CMA Intergared Reporting awards stated, “We are honored to be recognized for our commitment to transparency and excellence at the prestigious forum. These awards place us once again at the pinnacle of our reporting practices and commitment that we have put forth in maintaining a high level stakeholder engagement and maintaining the highest standards of corporate governance practices, transparency and accountability in financial reporting. It demonstrates how we value authenticity and how we have effectively communicated in our Annual Report. Therefore, we would like to dedicate these awards to all our stakeholders who have been integral to the success of Softlogic life”.
