EFU Life Assurance received approval to launch Takaful operations in February. DESIGN: CREATIVE COMMON
KARACHI: The Board of Directors of EFU General Insurance Limited at its meeting held on February 14, 2016 approved the annual accounts of the company for the year ended December 31, 2016. The after tax profit of the company was Rs2,392 million with earnings per share for the year of Rs11.96. The Board declared the final cash dividend of Rs7.00 per share ie 70% in addition to already paid interim cash dividends of Rs3.00 per share, making total distribution for the year to 100% (ie Rs10.00 per share). The company wrote total Rs17.2 billion of business including Takaful contributions of Rs1 billion. The company continues to be the market leader for both, the conventional and Takaful business segments. Its shareholders equity was Rs16.9 billion and total investment in equity, fixed income securities and bank balances stood at Rs25.9 billion.
Published in The Express Tribune, February 17th, 2017.
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