332:, an inspector from Oriental Governmental Security Life Assurance, Calcutta, as life manager for East Pakistan. Buksh, introduced a system of training classes and expanded the entire field organization on scientific lines. The company thereafter continued showing tremendous upward trend in its paid-for business from 25 million in 1953 to 76.7 million in 1960. During the same period the premium income of the company went up from Rs. 3.3 million to Rs. 11.9 million. In 1960, the company almost reached the door of bankruptcy due to bad underwriting against marine hull business on overseas account. Abbas Khaleeli, a former bureaucrat and Roshen Ali Bhimjee, owner of Insurance Agency Pak Underwriters were credited for averting the bankruptcy. Subsequently,
252:
33:
261:
923:
343:
worked for the company as life manager, deputy life manager and general manager from 1960 to April 1969. He was recognized as the “driving force” who “had successfully helped to grow the company into the leading and dominating position” in the country. During the 1960s, EFU became the largest company
255:
First meeting of the founders and sponsors of the
Eastern Federal Union Insurance Co. Ltd (1931 in London). L-R: Abdur Rahman Siddiqui, Partner Haira Trading Co., B.M. Collins of B.M. Collins & Co. Ltd., London; C.H. Faloon, General Manager, Atlas Assurance Company, Khondker Fazle Haider, Partner
276:
district were the company's founders. Siddiqui and Haider executed a “memorandum of understanding” in 1931 with one of leading
British insurance companies, the “Atlas” and Messrs. B.M. Collins, Lloyds brokers. The company was incorporated on 2 September 1932 in Calcutta with E.N. Menhinick, a senior
363:
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. EFU commenced writing group life insurance business in the same year, individual life business in 1994 and is
359:
Bangladesh nationalized all
Pakistan based and local life insurance companies in August 1972. In Pakistan, after 1972 the EFU operated solely as a general Insurance company. In 1992, the Government of Pakistan opened up life insurance to the private sector and EFU was reorganized and EFU Life
312:
The company officially started as a general insurance company. In 1936, life business of the company started with a paid-for business of about Rs. 5.0 million. By 1946 the company started to move ahead steadily but major upheaval of the century had occurred, in which
Muslims all over the
277:
manager of Atlas as the first chief executive officer of the company.The main objective of the company was to provide “insurance service to the community and also to produce competent Muslim insurance personnel.”
1489:
1469:
1479:
1459:
321:
before partition. The company completed a new Life
Business of Rs. 4.5 million by 1947 and during 1948 transacted a total business of Rs. 13.9 million.
1504:
1494:
889:
1474:
313:
sub-continent sustained immense loss, both of life and property after creation of
Pakistan. The EFU management transferred its registered office to
1484:
860:
833:
24:
1464:
1389:
911:
1304:
1154:
268:
It was the first insurance company in India owned and run by
Muslims targeted for the Muslim populace. Abdur Rahman Siddiqui of
1279:
1089:
336:
disinvested his shares and major shares were taken by the “Habib family”, ARAG Limited and rest was distributed to the public.
1419:
1159:
353:
1384:
1029:
1374:
1314:
1024:
212:) is a Pakistan based insurance company. It was the first insurance company in India founded in 1932, owned by the
1499:
1319:
1254:
1244:
1064:
1344:
1099:
1074:
974:
851:
Rahman, Rushanara; Mosharraf, Hossain Mir; Ahmed, Mosleh Uddin; Rahim, Shazzadur; Bukth, Tanisha, eds. (2010).
1329:
1179:
979:
75:
67:
1224:
1249:
1184:
954:
1199:
1119:
904:
290:
1429:
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1189:
333:
306:
1004:
959:
939:
1334:
1324:
1114:
1104:
302:
224:
1259:
251:
753:
1414:
1204:
1149:
1129:
1054:
1049:
856:
839:
829:
812:
795:
356:
led to creation of modern
Bangladesh in December 1971 when the EFU lost its eastern division.
1369:
1354:
1294:
1284:
897:
360:
Assurance Ltd. was incorporated in 1992 as the first private sector life insurance company.
286:
32:
1229:
1139:
339:
Abbas
Khaleeli and Roshen Ali Bhimjee officially took over the company on 1 January 1961.
282:
826:
Khuda Buksh The Pioneer of Life Insurance in Bangladesh: An account of his life and work
1379:
1349:
1269:
1239:
1209:
1084:
1009:
999:
260:
792:
The EFU Saga: The Making of Institution within the Context of the creation of Pakistan
1453:
1289:
1134:
1059:
1014:
989:
928:
395:
was acquired by the company in 2002. The former name of the building is Qamar House.
318:
236:
232:
205:
83:
61:
681:
1409:
1404:
1299:
1274:
1234:
1194:
1174:
1144:
1069:
1039:
994:
944:
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1424:
1399:
1394:
1219:
1124:
1094:
1079:
969:
964:
949:
340:
329:
273:
23:
364:
today the largest life insurance company in the private sector in the country.
1309:
1169:
1109:
345:
314:
240:
160:
47:
843:
1044:
1034:
1019:
816:
799:
392:
294:
94:
657:
1214:
984:
922:
228:
217:
123:
1164:
325:
213:
119:
38:
79:
71:
1364:
1359:
781:
Amir, M (5 March 1963). "Eastern Federal: Its Genesis and Progress".
298:
706:"Pakistan's leading life Insurance company for financial planning.|"
349:
269:
250:
1339:
893:
239:. The company ceased to exist in East Pakistan after it became
293:
helped to arrange substantial subscriptions from the State of
729:
705:
809:
Roshen Ali Bhimjee Between tears and laughter: A Biography
186:
880:
871:
328:, West Pakistan in May 1950. In 1952, the company hired
870:
Buksh, Khuda. "30 Progressive Years EFU 1932–1962". In
508:
506:
504:
855:. Dhaka: Khuda Buksh Memorial Trust and Foundation.
879:Ansari, A. R. "Life Insurance and Khuda Buksh". In
853:
Memoirs of A Life Insurance Icon : Khuda Buksh
828:. Dhaka, Bangladesh: The University Press Limited.
181:
159:
151:
129:
115:
100:
90:
59:
45:
37:Headquarters of EFU Life and General Insurance in
811:. Karachi, Pakistan: M. Yunus, D&Y Printers.
794:. Karachi, Pakistan: M. Yunus, D&Y Printers.
1490:Financial services companies established in 1932
1470:Financial services companies established in 1992
1480:Companies listed on the Pakistan Stock Exchange
202:Eastern Federal Union Insurance Company Limited
905:
8:
372:It comprises the following three companies:
155:Unit-Linked, Conventional and Group Products
16:
305:became the largest foreign shareholder and
289:) became the “Patrons” of the new company.
912:
898:
890:
644:
620:
608:
584:
572:
536:
495:
459:
447:
435:
411:
22:
15:
259:
1460:Pakistani companies established in 1992
404:
596:
309:bought most of the shares of the EFU.
210:ایسٹرن فیڈرل یونین انشورنس کمپنی لمیٹڈ
632:
560:
548:
524:
512:
483:
471:
423:
7:
1505:Indian companies established in 1932
1495:1932 establishments in British India
324:The EFU shifted its head office to
209:
682:"EFU Insurance – Company Overview"
14:
1305:Pakistan Aluminium Beverage Cans
1155:International Industries Limited
921:
824:Rahim, Muhammad Obaidur (2011).
31:
1475:Insurance companies of Pakistan
1090:FrieslandCampina Engro Pakistan
790:Karnowski, Wolfram W. (2001a).
264:Night View of EFU Life Building
141:Taher G. Sachak (vice chairman)
1485:Companies in the KSE 100 Index
730:"EFU Health Insurance Limited"
53:EFU General Insurance Limited
1:
376:EFU General Insurance Limited
168:EFU General Insurance Limited
138:Rafique R. Bhimjee (chairman)
1160:International Steels Limited
807:Karnowski, Wolfram (2001b).
783:Pakistan Observer Supplement
382:EFU Health Insurance Limited
354:Bangladesh War of Liberation
272:and Khonkar Fazle Haider of
174:EFU Health Insurance Limited
1521:
1465:Companies based in Karachi
1025:Colgate-Palmolive Pakistan
379:EFU Life Assurance Limited
256:Haira Trading Co., London.
171:EFU Life Assurance Limited
55:EFU Life Assurance Limited
1438:
935:
30:
21:
1345:Pakistan Tobacco Company
1075:Fauji Fertilizer Company
144:Mohammed Ali Ahmed (CEO)
1415:Unilever Pakistan Foods
1180:Kohinoor Spinning Mills
227:, the company moved to
955:Air Link Communication
265:
257:
1225:Mehmood Textile Mills
1200:Lucky Core Industries
1045:EFU General Insurance
758:heritage.eftsindh.com
352:. In March 1971, the
291:Malik Ghulam Muhammad
263:
254:
1430:Yousuf Weaving Mills
1265:Nishat Chunian Power
881:Rahman et al. (2010)
872:Rahman et al. (2010)
754:"EFU House, Karachi"
348:countries excluding
334:Mirza Ahmad Ispahani
307:Mirza Ahmad Ispahani
1145:Indus Motor Company
1085:First Habib Modarba
1005:Bannu Woollen Mills
587:, pp. 243–244.
551:, pp. 227–239.
18:
1441:As of October 2024
1385:Standard Chartered
1335:Pakistan State Oil
1325:Pakistan Petroleum
1315:Pakistan Oilfields
710:EFU Life Assurance
303:Sir Victor Sassoon
266:
258:
225:partition of India
1447:
1446:
1330:Pakistan Services
1320:Pakistan Refinery
1255:National Refinery
1205:Maple Leaf Cement
1150:Interloop Limited
1065:Fatima Fertilizer
1055:Engro Fertilizers
1050:Engro Corporation
945:Adamjee Insurance
927:Companies of the
862:978-1-4500-5168-2
835:978-984-506-027-1
734:www.efuhealth.com
662:www.efuhealth.com
575:, pp. 88–89.
563:, pp. 75–76.
195:
194:
1512:
1500:Pakistani brands
1355:Punjab Oil Mills
1295:Pak-Gulf Leasing
1285:Packages Limited
1040:Dolmen City REIT
975:Attock Petroleum
926:
925:
914:
907:
900:
891:
884:
875:
866:
847:
820:
803:
786:
768:
767:
765:
764:
750:
744:
743:
741:
740:
726:
720:
719:
717:
716:
702:
696:
695:
693:
692:
686:efuinsurance.com
678:
672:
671:
669:
668:
654:
648:
642:
636:
630:
624:
618:
612:
606:
600:
594:
588:
582:
576:
570:
564:
558:
552:
546:
540:
534:
528:
522:
516:
510:
499:
493:
487:
481:
475:
469:
463:
457:
451:
445:
439:
433:
427:
421:
415:
409:
231:and operated in
211:
191:
188:
111:
109:
35:
26:
19:
1520:
1519:
1515:
1514:
1513:
1511:
1510:
1509:
1450:
1449:
1448:
1443:
1434:
1395:Systems Limited
1370:Searle Pakistan
1260:Nestlé Pakistan
1230:Millat Tractors
1140:JDW Sugar Mills
1115:HBL Growth Fund
1030:Dawood Hercules
980:Attock Refinery
931:
920:
918:
878:
869:
863:
850:
836:
823:
806:
789:
780:
777:
772:
771:
762:
760:
752:
751:
747:
738:
736:
728:
727:
723:
714:
712:
704:
703:
699:
690:
688:
680:
679:
675:
666:
664:
656:
655:
651:
645:Karnowski 2001a
643:
639:
631:
627:
621:Karnowski 2001b
619:
615:
609:Karnowski 2001a
607:
603:
595:
591:
585:Karnowski 2001a
583:
579:
573:Karnowski 2001a
571:
567:
559:
555:
547:
543:
537:Karnowski 2001a
535:
531:
523:
519:
511:
502:
496:Karnowski 2001a
494:
490:
482:
478:
470:
466:
460:Karnowski 2001a
458:
454:
448:Karnowski 2001a
446:
442:
436:Karnowski 2001a
434:
430:
422:
418:
412:Karnowski 2001a
410:
406:
401:
389:
370:
287:Nawab of Bhopal
283:Hamidullah Khan
249:
185:
177:
147:
132:
107:
105:
82:
74:
64:
54:
50:
41:
12:
11:
5:
1518:
1516:
1508:
1507:
1502:
1497:
1492:
1487:
1482:
1477:
1472:
1467:
1462:
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1451:
1445:
1444:
1439:
1436:
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1427:
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1407:
1402:
1397:
1392:
1387:
1382:
1377:
1372:
1367:
1362:
1357:
1352:
1350:Pioneer Cement
1347:
1342:
1337:
1332:
1327:
1322:
1317:
1312:
1307:
1302:
1297:
1292:
1287:
1282:
1277:
1272:
1270:Nishat Chunian
1267:
1262:
1257:
1252:
1250:National Foods
1247:
1242:
1240:Murree Brewery
1237:
1232:
1227:
1222:
1217:
1212:
1210:Mari Petroleum
1207:
1202:
1197:
1192:
1190:Lotte Chemical
1187:
1185:Kot Addu Power
1182:
1177:
1172:
1167:
1162:
1157:
1152:
1147:
1142:
1137:
1132:
1127:
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1087:
1082:
1077:
1072:
1067:
1062:
1057:
1052:
1047:
1042:
1037:
1032:
1027:
1022:
1017:
1012:
1010:Bestway Cement
1007:
1002:
1000:Bank of Punjab
997:
992:
987:
982:
977:
972:
967:
962:
957:
952:
947:
942:
936:
933:
932:
919:
917:
916:
909:
902:
894:
888:
887:
886:
885:
876:
861:
848:
834:
821:
804:
787:
776:
773:
770:
769:
745:
721:
697:
673:
649:
637:
635:, p. 195.
625:
623:, p. 100.
613:
611:, p. 313.
601:
589:
577:
565:
553:
541:
539:, p. 303.
529:
517:
515:, p. 280.
500:
498:, p. 221.
488:
476:
464:
452:
440:
438:, p. 157.
428:
416:
403:
402:
400:
397:
388:
385:
384:
383:
380:
377:
369:
366:
297:and State and
248:
245:
193:
192:
183:
179:
178:
176:
175:
172:
169:
165:
163:
157:
156:
153:
149:
148:
146:
145:
142:
139:
135:
133:
130:
127:
126:
117:
113:
112:
102:
98:
97:
92:
88:
87:
65:
60:
57:
56:
51:
46:
43:
42:
36:
28:
27:
13:
10:
9:
6:
4:
3:
2:
1517:
1506:
1503:
1501:
1498:
1496:
1493:
1491:
1488:
1486:
1483:
1481:
1478:
1476:
1473:
1471:
1468:
1466:
1463:
1461:
1458:
1457:
1455:
1442:
1437:
1431:
1428:
1426:
1423:
1421:
1418:
1416:
1413:
1411:
1408:
1406:
1403:
1401:
1398:
1396:
1393:
1391:
1388:
1386:
1383:
1381:
1378:
1376:
1373:
1371:
1368:
1366:
1363:
1361:
1358:
1356:
1353:
1351:
1348:
1346:
1343:
1341:
1338:
1336:
1333:
1331:
1328:
1326:
1323:
1321:
1318:
1316:
1313:
1311:
1308:
1306:
1303:
1301:
1298:
1296:
1293:
1291:
1288:
1286:
1283:
1281:
1278:
1276:
1273:
1271:
1268:
1266:
1263:
1261:
1258:
1256:
1253:
1251:
1248:
1246:
1245:National Bank
1243:
1241:
1238:
1236:
1233:
1231:
1228:
1226:
1223:
1221:
1218:
1216:
1213:
1211:
1208:
1206:
1203:
1201:
1198:
1196:
1193:
1191:
1188:
1186:
1183:
1181:
1178:
1176:
1173:
1171:
1168:
1166:
1163:
1161:
1158:
1156:
1153:
1151:
1148:
1146:
1143:
1141:
1138:
1136:
1135:Ibrahim Fibre
1133:
1131:
1128:
1126:
1123:
1121:
1118:
1116:
1113:
1111:
1108:
1106:
1103:
1101:
1098:
1096:
1093:
1091:
1088:
1086:
1083:
1081:
1078:
1076:
1073:
1071:
1068:
1066:
1063:
1061:
1060:Engro Polymer
1058:
1056:
1053:
1051:
1048:
1046:
1043:
1041:
1038:
1036:
1033:
1031:
1028:
1026:
1023:
1021:
1018:
1016:
1015:Cherat Cement
1013:
1011:
1008:
1006:
1003:
1001:
998:
996:
993:
991:
990:Bank AL Habib
988:
986:
983:
981:
978:
976:
973:
971:
968:
966:
963:
961:
958:
956:
953:
951:
948:
946:
943:
941:
938:
937:
934:
930:
929:KSE 100 Index
924:
915:
910:
908:
903:
901:
896:
895:
892:
882:
877:
873:
868:
867:
864:
858:
854:
849:
845:
841:
837:
831:
827:
822:
818:
814:
810:
805:
801:
797:
793:
788:
784:
779:
778:
774:
759:
755:
749:
746:
735:
731:
725:
722:
711:
707:
701:
698:
687:
683:
677:
674:
663:
659:
653:
650:
647:, p. 94.
646:
641:
638:
634:
629:
626:
622:
617:
614:
610:
605:
602:
599:, p. 83.
598:
593:
590:
586:
581:
578:
574:
569:
566:
562:
557:
554:
550:
545:
542:
538:
533:
530:
527:, p. 21.
526:
521:
518:
514:
509:
507:
505:
501:
497:
492:
489:
486:, p. 19.
485:
480:
477:
474:, p. 18.
473:
468:
465:
462:, p. 86.
461:
456:
453:
450:, p. 85.
449:
444:
441:
437:
432:
429:
426:, p. 17.
425:
420:
417:
414:, p. 84.
413:
408:
405:
398:
396:
394:
386:
381:
378:
375:
374:
373:
367:
365:
361:
357:
355:
351:
347:
342:
337:
335:
331:
327:
322:
320:
319:East Pakistan
316:
310:
308:
304:
300:
296:
292:
288:
284:
280:
275:
271:
262:
253:
246:
244:
242:
238:
237:West Pakistan
234:
233:East Pakistan
230:
226:
221:
219:
215:
207:
203:
200:, originally
199:
198:EFU Insurance
190:
184:
180:
173:
170:
167:
166:
164:
162:
158:
154:
150:
143:
140:
137:
136:
134:
128:
125:
121:
118:
114:
103:
99:
96:
93:
89:
85:
81:
77:
73:
69:
66:
63:
58:
52:
49:
44:
40:
34:
29:
25:
20:
1440:
1410:TRG Pakistan
1405:Thal Limited
1360:Rafhan Maize
1300:Pakgen Power
1275:Nishat Power
1235:Mughal Steel
1195:Lucky Cement
1175:Kohat Cement
1070:Fauji Cement
995:Bank Alfalah
852:
825:
808:
791:
782:
761:. Retrieved
757:
748:
737:. Retrieved
733:
724:
713:. Retrieved
709:
700:
689:. Retrieved
685:
676:
665:. Retrieved
661:
652:
640:
628:
616:
604:
592:
580:
568:
556:
544:
532:
520:
491:
479:
467:
455:
443:
431:
419:
407:
390:
371:
368:Subsidiaries
362:
358:
338:
323:
311:
279:Aga Khan III
267:
222:
201:
197:
196:
187:efuinsurance
161:Subsidiaries
116:Headquarters
1425:Unity Foods
1420:United Bank
1400:Tariq Glass
1220:Meezan Bank
1125:Honda Atlas
1095:Ghani Glass
1080:Faysal Bank
970:Atlas Honda
965:Askari Bank
960:Allied Bank
950:AGP Limited
658:"Efu Group"
597:Ansari 2010
341:Khuda Buksh
330:Khuda Buksh
274:Murshidabad
1454:Categories
1170:K-Electric
1110:HabibMetro
775:References
763:2020-07-12
739:2020-07-04
715:2020-07-04
691:2022-11-11
667:2020-07-04
633:Rahim 2011
561:Rahim 2011
549:Rahim 2011
525:Rahim 2011
513:Buksh 2010
484:Rahim 2011
472:Rahim 2011
424:Rahim 2011
346:Afro-Asian
315:Chittagong
243:in 1971.
241:Bangladesh
223:After the
131:Key people
48:Trade name
1035:DG Cement
1020:Cnergyico
844:769102385
393:EFU House
387:EFU House
295:Hyderabad
216:based in
95:Insurance
86:component
62:Traded as
17:EFU Group
1215:MCB Bank
1120:Highnoon
985:Avanceon
817:47623993
800:47623996
229:Pakistan
218:Calcutta
152:Products
124:Pakistan
91:Industry
1375:Service
1165:Javedan
344:in the
326:Karachi
247:History
214:Muslims
182:Website
120:Karachi
106: (
101:Founded
84:KSE 100
78::
70::
39:Karachi
1365:Sazgar
940:Abbott
859:
842:
832:
815:
798:
299:Bhopal
285:(last
1390:SNGPL
1380:Shell
1310:PIBTL
1130:Hubco
399:Notes
350:Japan
270:Surat
1340:Ptcl
1280:OGDC
857:ISBN
840:OCLC
830:ISBN
813:OCLC
796:OCLC
391:The
281:and
235:and
206:Urdu
189:.com
108:1932
104:1932
80:EFUL
72:EFUG
1290:PEL
1105:HBL
1100:GSK
204:, (
76:PSX
68:PSX
1456::
838:.
756:.
732:.
708:.
684:.
660:.
503:^
317:,
301:.
220:.
208::
122:,
913:e
906:t
899:v
883:.
874:.
865:.
846:.
819:.
802:.
785:.
766:.
742:.
718:.
694:.
670:.
110:)
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