SECP Cancels EFU Health Insurance’s Registration Amid Amalgamation with EFU Life Assurance

Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has officially revoked the registration of M/s EFU Health Insurance Limited, prohibiting the company from conducting insurance business within the country, following its merger with EFU Life Assurance Limited.

According to Securities and Exchange Commission of Pakistan, the decision comes under the sub-section (2) of Section 9 of the Insurance Ordinance 2000, facilitated by a scheme of arrangement for amalgamation approved earlier. As a result of this revocation, all operations of EFU Health Insurance will cease, and its liabilities and policyholder responsibilities will be transferred to EFU Life Assurance Limited.

Policyholders of EFU Health Insurance are advised to direct all claims and inquiries to EFU Life Assurance Limited as the merger process unfolds. The SECP has also issued a formal notification, number 1170(I)/2024 dated August 2, 2024, outlining the legal framework supporting this corporate restructuring, ensuring continuity of coverage and protection for all affected policyholders.

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