EFU LIFE INSURANCE

EFU Group, originally Eastern Federal Union Insurance Company Limited, is a

Pakistan based insurance company. It was the first insurance company in India
founded in (1932) owned by the Muslims based in Calcutta. After the partition
of India the company moved to Pakistan and operated in East
Pakistan and West Pakistan. The company ceased to exist in East Pakistan after
it became Bangladesh. Pakistan subsequently reorganized the company to EFU
Group which comprises the following three companies:

 EFU General Insurance Limited

 EFU Life Assurance Limited

 Allianz EFU Health Insurance Limited

MANAGEMENT:

Managing Director & Chief Executive

Taher G. Sachak

Directors
Rafique R. Bhimjee
Saifuddin N. Zoomkawala
Taher Ghulamhusein Sachak
Hasanali Abdullah
Syed Salman Rashid
Ali Raza Siddiqui
Daanish Bhimjee
Rukhsana Shah
Ruhail Muhammad
Ahsen Ahmed

Corporate Secretary
Abbas Hussain

Legal Advisor
Mohammad Ali Sayeed, M.A.B.L.

Registered Office

Al-Malik Centre
70 W, F-7/G-7 Jinnah Avenue
(Blue Area), Islamabad
Ph: +92 51 2820989
SOCIAL RESPONSIBILITY
Our social responsibility is to contribute to the development of the civilized and prosperous and
respected Pakistan in which all the people live in harmony. To fulfill our obligations, we shall act
responsibly to make a difference by contributing to these activities that have the greatest visible impact
on the betterment of the society with emphasis on education and health.

EFU Social Goals:

EFU Life and Bank Alfalah strengthen their relationship by Launching Income Continuation Benefit for
Consumer Banking
EFU Life and 1LINK partner for PayPak Loyalty Program to provide Insurance coverage to PayPak
Cardholders
EFU Life wins ‘Best Insurance Tech of the Year’

ORGANIZING:

All Directors and Staff are required to:

Act with integrity, dignity and in an ethical manner when dealing with the public, clients and peers.
Protect the confidentiality of client information at all times except where required by law to disclose
it.
Protect the confidentiality of information relating to the Company both during the course of
Directorship or employment (as the case may be) and after its termination (regardless of reason).
Obtain written permission from the Company’s Compliance Officer (or the Chief Executive Officer in
the event that the Compliance Officer is unavailable) to hold any position (paid or unpaid) with any
outside party, firm or organization. For clarity, positions covered include but are not limited to
consultant, employee, Director, representative and agent. Furthermore, all staff must disclose in
writing to the Company, any such positions they currently hold at the time of signing this statement.
Directors are exempt from this requirement.
Maintain accurate records of business transactions related to the Company or its clients.
Report any business or professional activities or any beneficial interests that may result in a conflict
with or be competitive with the interests of the Company.
Report any person or activity to the Compliance Officer or CEO that in their opinion is in violation of
this statement.
Disclose their shareholding in the Company’s Securities upon signing this agreement and any changes
in shareholding within 24 hours of any such change.
Board of Directors

Rafiq R. Bhimjee
Mr. Rafique R. Bhimjee is B.Sc (Hons) in Management Science,
University of Warwick, MBA in Finance from City University, London
and a “Certified Director” from Pakistan Institute of Corporate
Governance.He has worked overseas in Merrill Lynch Asset
Management, New York and Abu Dhabi Investment Authority.Mr.
Rafique Bhimjee was the Chairman of EFU General Insurance Ltd.
from February 1999 to July 2011 and became Chairman of EFU Life
Assurance Ltd in July 2011. He is also a Director of Allianz EFU Health
Insurance Ltd. and EFU Services (Pvt.) Ltd.
Saifuddin N. Zoomkawala
Mr Saifuddin N. Zoomkawala has been associated with EFU Group
since 1964. He served as Managing Director of EFU General
Insurance Ltd from 1990 till 2011 when he was elected Chairman of
the Company. He is also the Chairman of Allianz EFU Health
Insurance Ltd. He was also Chairman of EFU Life Assurance Ltd. from
1999 to 2011.He is also on the Board of Governors of Shaukat
Khanum Memorial Trust; SIUT; Burhani Hospital; and Fakhr-e-Imdad Foundation.

Taher G. Sachak
Mr. Taher G. Sachak has studied in UK and is a graduate in Business Studies from Bournemouth
University, and also has a post-graduate Diploma in Management Studies from Liverpool University.
Following his studies, he joined the British Civil Service and after 5 years decided to pursue a career in
life assurance. He held executive positions in major UK Life Assurance Companies, Allied Dunbar, Trident
Life and finally Century Life before coming to Pakistan in 1994 to join EFU Life.He is also Chief Executive
& Managing Director of EFU Life Assurance Limited and Vice Chairman of Allianz EFU Health. He is also a
“Certified Director” from Pakistan Institute of Corporate Governance.
Hasanali Abdullah
Mr. Hasanali Abdullah is Chartered Accountant and “Certified Director” from Pakistan Institute of
Corporate Governance (PICG). He has been associated with EFU General Insurance Ltd. since 1979 and is
Managing Director & Chief Executive of the company from 2011. He is Director of Allianz EFU Health
Insurance Ltd., EFU Services (Private) Ltd., Tourism Promotion Services (Pakistan) Limited (owners of
Serena Hotels in Pakistan), Honorary Treasurer of Aga Khan Hospital & Medical College Foundation,
Member of National Committee of Pakistan Branch of Aga Khan University Foundation Geneva. Director
of Institute of Financial Markets of Pakistan.He has served on the Boards, Council and Committees of
various Aga Khan Development Network institutions from 1976 to 2002. He has been Director of PICG in
2011, Chairman of Insurance Association of Pakistan for the year 2008, 2010 – 11 and 2016 – 2017,
Executive Committee Member of Federation of Pakistan Chambers of Commerce & Industries for 2011 &
2017 and also served as Chairman of Pakistan Insurance Institute till 28th July 2020.

COMMITTEES
Audit Committee

Mr. Ruhail Muhammad (Chairman – Independent Director)

Mr. Hasanali Abdullah (Member – Non Executive Director)
Mr. Saifuddin N. Zoomkawala (Member – Non Executive Director)
Mrs. Rukhsana Shah (Member – Independent Director)
Mr. Daanish Bhimjee (Member – Non Executive Director)
Mr. Ali Raza Siddiqui (Member – Non Executive Director)

Ethics, Human Resource & Remuneration Committee

Mrs. Rukhsana Shah (Chairperson – Independent Director)

Mr. Rafique R. Bhimjee (Member – Non Executive Director)
Mr. Saifuddin N. Zoomkawala (Member – Non Executive Director)
Mr. Taher G. Sachak (Member – Chief Executive Officer)

Investment Committee
Mr. Rafique R. Bhimjee (Chairman – Non Executive Director)
Mr. Saifuddin N. Zoomkawala (Member – Non Executive Director)
Mr. Taher G. Sachak (Member – Chief Executive Officer)
Mr. Hasanali Abdullah (Member – Non Executive Director)
Mr. Daanish Bhimjee (Member – Non Executive Director)
Mr. Omer Morshed (Member – Appointed Actuary)
Mr. Shahid Abbas (Member – CFO)
Mr. Mohammad Ali Ahmed (Member – Actuary)

Underwriting Committee
Mr. Taher G. Sachak (Chairman – Chief Executive Officer)
Dr. Tajuddin A. Manji (Member)
Mr. Zain Ibrahim (Member)
Mr. Hasan Sheikh (Member)
Dr. Asadul Hadi Siddiqui (Member)

Risk Management & Compliance Committee

Mr. Taher G. Sachak (Chairman – Chief Executive Officer)
Mr. Mohammad Ali Ahmed (Member)
Mr. Zain Ibrahim (Member)
Mr. Shahid Abbas (Member)
Mr. Ali Qureshi (Member)
Mr. Abbas Hussain (Member)n
Mr. Abdul Mujeeb (Member)