Karachi : 2 May 2024: EFU Life Assurance Ltd., the leading private sector life insurance and
family takaful provider in Pakistan, is pleased to announce the commencement of health
insurance, by 100% acquisition of EFU Health Insurance Limited (the country’s premier
specialized health insurance company) and subsequent complete amalgamation of EFU
Health into EFU Life. The scheme of amalgamation was recently approved by both the
Boards. This strategic step marks a significant milestone in EFU Life’s commitment to
address its customer’s holistic financial and personal health needs, by offering
integrated Life and Health Insurance, and Takaful solutions under a single ecosystem.
Speaking on the occasion, Mr. Mohammed Ali Ahmed, MD & CEO of EFU Life,
elaborated “With the acquisition of EFU Health and subsequent amalgamation of the
entire health business into EFU Life, we are determined to elevate the standards of
healthcare coverage in Pakistan. We believe that access to basic healthcare is a
fundamental right and the potential for growth of health insurance in Pakistan is vast,
offering numerous exciting opportunities at both corporate and retail levels. The
customers of former EFU Health Insurance Limited, now under the EFU Life umbrella,
will experience a wider range of health insurance solutions and an enhanced service
experience fueled by technology, backed by the strong financial position of EFU Life
with assets of Rs.217 Billion.”
EFU Life’s acquisition and amalgamation of EFU Health signifies more than just a
business transaction; it is a commitment to growth, innovation, and customer-centricity.
By combining resources and expertise, EFU Life is poised to set new benchmarks in the
realm of health insurance, ensuring that its valued customers receive the best-in-class
solutions they deserve.
“We are embarking on an exciting journey of growth and transformation. With this
acquisition, EFU Life will continue to prioritize the insurance requirements of its
customers by delivering tailored health solutions that meet their evolving needs. It
marks a significant step forward in EFU Life’s mission to empower individuals & families
with the tools they need to lead healthy and fulfilling lives”, remarked Mr. Mohammed Ali
Ahmed, MD & CEO of EFU Life.
As a leader in the Insurance industry, EFU Life continues to invest in human capital
along with technology solutions to deliver seamless, personalized experiences to its
customers. With an unwavering focus on innovation and agility, EFU Life is well-
positioned to navigate the ever-evolving landscape of the insurance market and deliver
sustainable value to its stakeholders.
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