EFU Life considers acquisition of Waada Digital
EFU Life Assurance is considering acquiring Pakistani insurtech startup Waada Digital, aiming to expand its digital and Shariah-compliant insurance offerings, pending regulatory approvals.
- EFU Life Assurance's potential acquisition of Waada Digital.
- Waada Digital's mission for digital, Shariah-compliant insurance.
- The regulatory and due diligence process for the acquisition.
EFU Life Assurance Limited, a leading private sector life, Takaful, and health insurance provider in Pakistan, announced that it is considering the potential acquisition of Waada Digital (Private) Limited.
The listed company, a subsidiary of EFU General Insurance Ltd, disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Monday.
“We would like to inform you that EFU Life Assurance Limited is currently considering a potential acquisition of Waada Digital (Private) Limited, as approved by the Board of Directors of EFU Life Assurance Ltd. in its meeting held on June 29, 2026,” read the notice.
The company added that the abovementioned transaction remains subject to due diligence, negotiation, and execution of definitive transaction documents, as well as receipt of all applicable corporate and regulatory approvals.
Founded in 2020 by Ishaq Kothawala, Waada is a Pakistani insurtech startup headquartered on Main Shahrah-e-Faisal, Karachi. It aims to make digital, Shariah-compliant insurance affordable and accessible for underserved and emerging consumer segments.
Earlier in April, EFU Life Assurance Ltd entered into a strategic agreement with ABHI Microfinance Bank Limited to offer life insurance solutions to customers of the microfinance bank, aiming to expand access to financial protection and long-term security across Pakistan.
Comments