EFU Life commences health insurance via acquisition and amalgamation of EFU Health

KARACHI: EFU Life Assurance Ltd., the leading private sector life insurance and family takaful provider in Pakistan, announced the commencement of health insurance, by 100 percent 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, 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.”

Copyright Business Recorder, 2024