EFU Life Assurance Completes Acquisition of EFU Health Insurance

Islamabad, In a significant development within Pakistan’s insurance sector, EFU Life Assurance Limited has successfully acquired 100% shareholding in EFU Health Insurance Limited, marking a complete consolidation under the EFU banner. This move was disclosed in a statement to the Pakistan Stock Exchange (PSE) on April 2, 2024, underlining the completion of the transaction that had been previously announced as a potential acquisition.

EFU Life Assurance Limited, a subsidiary of EFU General Insurance Limited, made the initial announcement regarding its intent to acquire EFU Health Insurance Limited, emphasizing the strategic nature of this acquisition in broadening its service offerings. The transaction’s completion not only signifies EFU Life’s expansion into health insurance but also demonstrates its commitment to growing its footprint in the insurance industry.

The disclosure, made in compliance with Sections 96 and 131 of the Securities Act, 2015, and the Rule Book of the Pakistan Stock Exchange Limited, was officially conveyed on April 3, 2024, by EFU General Insurance Limited. The detailed report highlighted the company’s effort to keep the TRE Certificate Holders of the Exchange duly informed, in line with regulatory requirements.

EFU General Insurance Limited is headquartered at Kamran Centre, 1st Floor, 85 East, Jinnah Avenue, Blue Area, Islamabad. The disclosure form, as signed by Amin Punjani, the Company Secretary, is a testament to the organization’s adherence to the stringent disclosure standards set forth by the Securities Act, 2015, and the regulatory framework of the Pakistan Stock Exchange Limited.

This acquisition marks a notable consolidation within the Pakistani insurance sector, with EFU Life Assurance Limited expanding its portfolio to include health insurance services through the complete acquisition of EFU Health Insurance Limited.