Sanasa Life Insurance Company PLC has fully subscribed a Rs. 500 million subordinated debenture issue, successfully placing 5 million unrated, unlisted, unsecured, cumulative, redeemable Tier II subordinated debentures with identified investors through a private placement. The issue, which complied with conditions set by the Securities and Exchange Commission of Sri Lanka (SEC), was completed on 26 June, with proceeds held in an escrow account pending regulatory clearance. The funds will remain in escrow until the Insurance Regulatory Commission of Sri Lanka (IRCSL) lifts the suspension on the company's insurance licence, following confirmation that it has met required capital adequacy thresholds under the Risk-Based Capital Rules of 2015.