Sanasa Life Completes Rs. 522.7 Mn Rights Issue to Boost Solvency 📈

• Sanasa Life Insurance Company PLC has successfully raised Rs. 522.7 million through a rights issue of 52.26 million shares at Rs. 10 each, concluded on March 13, 2026. • Capital Allocation: Unsubscribed shares were reallocated to existing shareholders, followed by company employees, and finally approved third parties to ensure full subscription. • Solvency Recovery: The equity infusion is a critical step to address the long-term insurance business suspension by the IRCSL (effective until May 5, 2026) due to non-compliance with solvency rules. • Capital Adequacy Ratio (CAR) Impact: Pre-Issue: 49.51% (as of Dec 2025/post-asset disposal). Post-Issue: Projected to rise by 51.13% to reach 100.64%. Target: Aided by a proposed Rs. 500 million debenture, the company aims for a 164% CAR to meet regulatory thresholds. • Context: This capital plan is vital for the financial services sector firm to lift its current regulatory suspension and avoid the appointment of an external administrator by the IRCSL.