Feb 19 - 25, 2007

The EFU Group celebrates its 75th year in a very successful career of reaching out to people this year. On this occasion the managing Director & CEO Mr. Saifuddin N. Zoomkawala, unveiled the history and the future goals of EFU which sails -under his visionary and capable captaincy.

EFU in its 75 1932n as E- celebrates its 75t year of history is known as bedrock of financial strength and reputation for innovation and remains the most trust worthy business concern. It has played a pioneering role in the field. of Insurance in Pakistan. The Eastern Federal Union Insurance Co. Ltd., presently known as EFU General Insurance Ltd., emerged in 1932 as a Unique Phenomenon - being the first Muslim Insurance Company conceived as part of Muslim renaissance in the sub-continent.

It came into being through the missionary efforts of a group of patriotic and enlightened Muslims who had the well being and welfare of Muslims of the South East Asia at heart.

H.H. The Aga Khan Sir Sultan Mohammad Shah and. RH, Nawab of Bhopal Sir Hamidullah Khan became its Patrons.

The History of EFU may be broadly summarized in the following stages:


The pioneers of the company under the leadership of Mr. Abdul Rehman Siddiqui started the company, from Calcutta with caution and prudence and built up a cadre of Insurance Professionals. The Company expanded not only to different parts of India but also set up offices in London, Ceylon and Palestine.


With the birth of Pakistan, EFU migrated to Pakistan and established its registered office in Chittagong (former East Pakistan) and head office in Karachi.

Mr. A.R. Siddiqui, who was Incharge of EFU Operation, was appointed Governor of East Pakistan and Mt. K.F. Haider assumed the responsibility of running the company.

EFU was amongst the first of seven companies which were. listed on Karachi Stock Exchange in 1949.

THE ERA OF MR. BHIMJEE (1961-1972)

This period saw EFU rise to great heights. Every second insured person was an EFU customer. In the words of late. Mr. Roshen Ali Bhimjee spelt out in September 1963 "Association with Eastern Federal is for me a. God-sent opportunity to serve the country in my humble way through a profession I have lived with for two and a half decades".

EFU made tremendous progress ever since the association of the dynamic personality of Mr. Roshen Ali Bhimjee, to whom the Company would always remain indebted. He built a motivated team of professionals who worked with devotion, commitment and with genuine zeal and enthusiasm and I am proud to say that even today, our officers work with the same spirit.

EFU reached every nook and corner of the country making people insurance minded and also recruited some of the best brains of the country. The process of recruitment and training not only provided manpower to EFU but to the Insurance Industry as a whole. There is hardly any insurance company in the country and abroad, which has not been benefited by EFU.

During this period not only people from the Insurance Industry but important personalities from other walks of life were also associated with EFU for example Syed Sibte Hassan served as the Executive Director of the Company, Justice Sattar as a Director who later became the President of Bangladesh.

The other major achievement of EFU was the introduction of Group Term. Insurance for the first time in Pakistan and it was proud that it provided life cover to civilian as well as Armed Forces of the country under the umbrella of Group Term Insurance.

By 1970 EFU became the largest Life Insurance Company in Afro-Asian countries (excluding Japan) under the leadership of Mr. Roshen Ali Bhimjee.

The Big Jolt of Life Insurance Nationalization and Loss of East Pakistan (1973-1990)

When EFU was at its peak of progress the country broke into two pieces in December 1971 resulted in huge loss of business. If this was not enough, within 3 months EFU got another jolt in the Shape of Nationalization of Life Insurance Business by the Government in March 1972. All its assets were taken over and was left with only General Insurance Business.

To make things even worst substantial part of the economy was nationalized and automatically this business was lost by the company to National Insurance Corporation.

Despite these big jolts the Company was strong enough to survive and carried on its general insurance business.


Life Insurance was permitted by the Government to the private sector in 1992, EFU was the first to take advantage and restarted EFU Life Insurance Company. Now EFU Life is the largest private sector life insurance company in Pakistan, which enjoys a market share of more than 50% of the private sector life premium income. The Company is also the first life insurance company in the country to be awarded the ISO 9001-2000 certification. True to its tradition of innovation; it was the first company to have introduced Unit Link Life Insurance products for the first time in Pakistan.

In addition to its existing activities, EFU life has done all the preparatory works to launch its sister company - EFU Takaful Insurance Company - which will start functioning within a short span of time.

In March 2000, EFU has signed a joint venture agreement with Allianz of Germany to provide the health insurance facility to the people of Pakistan. This joint venture is unique in its nature as Allianz EFU Health Insurance Company is the first specialized medical Insurance company of Pakistan.

EFU General continued to progress rapidly, the share capital of the Company increased from Rs. 2.5 million in 1971 to Rs. 500 million in 2005. EFU General's Premium rose from Rs. 22 Crore in 1990 to Rs. 800 Crore (Rs. 8 Billion) in 2006. The total premium of the Group will be touching Rs. 12 Billion (Rs. 1200 Crore) this year. EFU has been adjudged amongst top 25 companies seven times by the Karachi Stock Exchange.

EFU is the only insurance group in Pakistan to provide full range of insurance services, i.e., life, health and general. EFU is now marches ahead with confidence to set new standards of quality services encompassing all modern concepts of customer satisfaction with state of the art technology support.