LOLC Group announces internal restructuring of financial services

As part of the group’s internal restructuring of financial services, LOLC Group yesterday announced the transfer of LOLC Asset Holdings Limited (LAHL), a fully owned subsidiary of LOLC Holdings PLC to another subsidiary, LOLC Ceylon Holdings PLC.
LOLC Ceylon Holdings PLC was set up in 2021 as part of LOLC Group’s global strategy to attract investors to its large finance companies.

The company is also positioned as a platform to enable potential investors to acquire minority stakes in the finance companies it owns.
LOLC Asset Holdings Limited holds 100 percent shareholding of LOLC Life Assurances Limited (Sri Lanka), 63.75 percent shareholding in LOLC General Insurance PLC (Sri Lanka) and 10 percent of Serendib Microinsurance PLC (Cambodia) through another subsidiary.

LOLC Life Assurance Limited and LOLC General Insurance PLC own 45 percent each in Serendib Microinsurance PLC (Cambodia).
According to a stock market filing by LOLC Holdings PLC, the transfer of shares was done effective from March 22, 2023 at a value of Rs.2.33 billion being the cost/carrying amount in the financial statement of LOLC Holdings PLC.