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Islamabad, EFU Life Assurance Limited has announced the completion of its acquisition of 100% of the shares in EFU Health Insurance Limited, according to a disclosure made to the Pakistan Stock Exchange (PSE) today. This move is a significant development in the insurance sector, signifying EFU Life’s expansion into health insurance through the acquisition of EFU Health.
The disclosure, in line with Sections 96 and 131 of the Securities Act, 2015, and Clauses 5.6.1 of the PSE Rule Book, was made by EFU Life’s Corporate Secretary and Compliance Officer, Mr. Hasan Jivani. The announcement follows previous communications regarding the potential transaction, which has now been fully realized, marking a new chapter for both entities involved.
EFU Life Assurance Limited, with its registered office at Al-Malik Centre, 70 W, F-7/G-7 Jinnah Avenue (Blue Area), Islamabad, is a key player in the life insurance market in Pakistan. The completion of this acquisition is expected to strengthen the company’s foothold by broadening its service offerings to include health insurance.
This strategic move by EFU Life Assurance Limited is anticipated to have a direct impact on its listed securities, as it represents a significant expansion of the company’s business operations and service portfolio.