EFU Insurance Company

Corporate Profile
	The Company was incorporated as a Public Limited Company on September 2, 1932 and is engaged in general insurance business comprising of fire, marine, motor and engineering etc. The shares of the company are quoted on Karachi and Lahore Stock Exchanges of Pakistan. The Principal place of business is located at EFU House, M.A. Jinnah Road, Karachi, Pakistan with over 60 branches throughout the country. EFU is one of the few Pakistani organizations run totally by professional management and highly motivated field force. Policies accepted by all financial institutions in the country. Insurer Financial Strength Rating: AA Stable Outlook (Rating Agency: JCR-VIS). Client-base comprises of many leading business houses and multinational companies. Another unique feature of EFU is a voluntary review mechanism by professionals of international repute. The independent reviews by these professionals enable the company to keep abreast of international changes in the industry as well as ensure that management adopts the best international practices. Another pillar of EFU's strength is its very close and long-term (over 50 years) relationship with its main reinsurer, ‘Munich Re’, one of the largest reinsurance companies in the world. EFU gave the emerging insurance industry the leadership, the manpower and the drive needed to grow in a situation where at one time, three-fourths of insurance was held by foreign companies. efu GROUP EFU GROUP – PAKISTAN’S LARGEST INSURER EFU General Insurance Limited Rating AA Stable Outlook Shaping the future of insurance in Pakistan EFU Life Assurance Limited ISO 9001 Certified Pakistan’s largest private sector life assurance company Allianz EFU Health Insurance Limited Pioneer and Leader Pakistan’s only specialized health insurer By 1961, the EFU was the largest insurance company not only in Pakistan but also in all of Afro-Asia excluding Japan. It remained so until 1972 when life insurance in Pakistan was nationalized. From this time onwards EFU operated solely as a general insurance company. EFU General is the second largest general insurer in Pakistan. EFU General is managed by a team of experienced insurance professionals with strong support from service departments such as Finance, Technical and Human Resource Developments. The Managing Director of the Company has international experience of running the general insurance operations of an insurance company based in the United Arab Emirates (UAE). In 1992, the Government of Pakistan opened up life insurance to the private sector and EFU Life Assurance Ltd was incorporated in 1992 as the first private sector life insurance company. The third company in the EFU Group is Allianz EFU Health Insurance Ltd., which is dedicated to providing health insurance to individuals and corporations. It is a joint venture with Allianz of Germany, one of the largest insurance companies of the world. Allianz EFU Health is Pakistan's first specialized health insurance provider. EFU is the leading insurance group in Pakistan providing a full range of insurance services. This includes life, health and general insurance. A pillar of EFU's strength lies in its close and long-term (over 50 years) relationship with its main reinsurer, Munich Re of Germany, one of the largest reinsurance companies in the world. Another unique feature of EFU is a voluntary review mechanism by the companies to keep under review their operations, by professionals of international repute. Mr. Wolfram Karnowski, who retired at a very senior level from Munich Reinsurance Company of Germany, is on the Board of EFU General as Director. EFU Life has appointed Mr. Michael Bell, a very eminent UK based actuary (retired from Watson Wyatt) to carry out an annual review of the company's policies and operations. This independent review enables the company to keep abreast of international changes in the industry and ensures that the managements adopt the best international practices.