28 March 2024

AGENDA

Company ProfileBusiness PerformanceAwards and Achievements

Q & AFuture Plans

COMPANY PROFILE

First private sector Life Insurance Company of Pakistan.

Company is part of the EFU Group which also includes EFU General and EFU Health - Largest insurance group in Pakistan - PKR 81bn in 2023

Launched Window Takaful Operations in 2015

Product range covers Conventional and Takaful products; savings and protection

Distribution channels: Sales Force, Bancassurance, Group Benefits, Digital & Inclusive - covering ~8 million lives

First life insurance company in Pakistan to be ISO certified; currently is ISO 9001:2015 certified

EFU Life is reinsured by leading Reinsurers in the market (Hannover Re, Munich Re & Swiss Re)

CREDIT RATING

EFU Life Assurance Limited has been assigned Insurer Financial Strength rating of "AA++" (Double A Plus Plus) by VIS Credit Rating Company Limited and outlook on the assigned rating is 'Stable'.

The rating signifies company's exceptionally strong capacity to meet policyholders' and contractual obligations.

KEY FINANCIAL INDICATORS - 2023

AWARDS & ACHIEVEMENTS

Honored with the prestigious

'Corporate Excellence Award' for Life Insurance

Company at the 38th Corporate Excellence Awards 2023 by the Management Association of Pakistan (MAP).

Conferred with the most prestigious 'Brand of the Year

Award 2022' for Best Life Insurance Company by the Brands

Honored with the 'Best Life Insurance Company' at the

17th Consumers Choice Award 2022-23 for the 14th consecutive year.

AWARDS & ACHIEVEMENTS

Received 'International Environment, Health & Safety Award' for 'Best Environmental

Practices' at the 9th International Summit & Awards on Environment, Health, and

Safety.

Received the 'CSR Award 2023' in the 'Social Impact' category at the 12th CSR Summit & Awards for the commitment to social development and sustainability initiatives in the country.

Confered with 'Certificate of Merit' for the Best Presented Annual Report 2022 in the 'Life Insurance' category by the South Asian Federation of Accountants (SAFA).

PRODUCTS

EFU Life's product range is designed around needs of various socio-economic segments of society - ranging from the mass market to high net worth segments with a strong focus on financial inclusion.

During 2023, several innovative financial solutions were launched- via branchless banks, telcos, micro finance institutions, and technology platforms covering an additional 5.5 million lives

Products were launched for various bank partners focusing on needs of child financial planning, wealth accumulation and insurance protection.

OUR BANK PARTNERS

PROFIT AND LOSS ACCOUNT

PKR Million

Profit and Loss Account

2023

2022

Change

Gross Premium/ Contribution Revenue Net Premium/ Contribution Revenue Investment Income, Net realized gain(loss)

37,467 36,404 39,347

39,565 -5%

38,471 -5%

14,535 171%

Total Net Income

75,751

53,006

43%

Net Insurance Benefits

32,122

26,601

21%

Net Change in Insurance Liabilities Acquisition Expenses

Marketing and Administration Expenses, others

28,932 7,279 3,253

13,083 121%

7,896 -7.8%

2,542 28%

Total Expenses

39,631

23,563

68%

Profit before Tax 3,998

Profit after Tax 2,066

Earnings per share - Rupees 20.66

2,842 41%

1,692 22% 16.92

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EFU Life Assurance Ltd. published this content on 26 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2024 08:43:10 UTC.