In 1992, the Government of Pakistan reopened the life insurance business to the private sector organizations and EFU Life Assurance Ltd was incorporated in November 1992 as the first private sector life insurance company. In early 1993, EFU Life commenced writing group life insurance business and by March 1994, the company began writing its individual life business.
EFU Life is managed by a team of professionals with extensive life insurance experience in the United Kingdom. This has helped the Company establish a professional culture unique amongst life insurance business in Pakistan.
The Company has a growing branch network of 72 branches through out the country with employee strength of over 1,600 personnel in its sales force and around 150 personnel at its main offices in Karachi and Lahore. The company employs 5 full time actuaries and also has an active involvement of one of the leading actuarial firms in the country.
EFU Life is the first life insurance company in Pakistan to be awarded the ISO 9001:2000 certification
Today, EFU Life continues to be the largest private sector life insurance company in Pakistan. In 2005, EFU Lifes premium income was Rs. 2.5 billion. The Company enjoys a market share of over 50% of the private sector life premium income.
EFU Life has a comprehensive range of products which has been developed after extensive research of financial services in western countries such as the United Kingdom. These products are designed to meet the varying needs of EFU Lifes clients and offer the best in financial services.