SECP Revokes EFU Health Insurance Registration Amid Amalgamation Scheme

The Securities and Exchange Commission of Pakistan (SECP), has revoked the registration of M/s EFU Health Insurance Limited as an insurer under sub-section (2) of Section 9 of the Insurance Ordinance 2000. The registration is revoked by SECP in light of the scheme of arrangement whereby EFU Health Insurance Limited is to be amalgamated with EFU Life Assurance Limited. M/s EFU Health Insurance Limited is no longer authorized to carry on insurance business in Pakistan and, as per scheme, any business activity carried by it or any liability incurred by it shall be payable by M/s EFU Life Assurance Limited, said the statement issued by the SECP. Consequently, all policyholders of EFU Health Insurance Limited may contact M/s EFU Life Assurance Limited for any claim or liability with respect to their insurance policies. The SECP has issued a notification – 1170(I)/2024 dated August 2nd, 2024, in pursuance of the provisions of sub-section (1) of Section 10 of the Insurance Ordinance, 2000.