Current Situation:

In 1990, the Government of Pakistan reopened the life insurance business to the private
sector organisations and EFU Life Assurance Ltd started operations in November 1992
as the first private sector life insurance company. In early 1993, EFU Life commenced
its Group life insurance business and by March 1994, the company began writing its
individual life business.

Current Performance:
 Strongest Financial base in the private sector
 Highest paid up capital of Rs. 1 Billion
 One of the leading Asset Managers in Pakistan
 Diversified Portfolio offering Best Value Products
 Launched the First Window Family Takaful Operations under the brand name ‘Hemayah’
 Providing coverage to more than 1.5 million lives.

 . Launched the First Mobile app – EFU Life PlanIT

 The largest salesforce in the private life insurance sector
 Introduced MPOS System to facilitate online payments.
 State of the art customer service
 Prompt claim settlement
 First life insurance company in Pakistan to be awarded the ISO 9001:2008
certification
 “Insurer Financial Strength” rating of AA+, Outlook: Stable, by JCR-VIS, an
affiliate of Japan Credit Rating agency

The Company has a growing branch network of over 200 branches throughout the
country. For Bancassurance, the Company has a relationship with over 16 major
Banks for insurance products & 7 Banks for BancaTakaful offering various life
insurance products. For Group Benefits, EFU Life has a marketing team which
focuses on providing life insurance coverage to corporate entities and bank
clients.
Strategic Objectives:

• Retain leadership position in the market.

• Explore opportunities by introducing new products and diversifying current product portfolio.

• Pursue continuous improvement and technological advancement.

Enhance corporate capabilities and motivation through skill enhancement, management

development and reward programs.

Future Strategy:

Our strategy for 2017 is designed to deliver sustainable, profitable growth in a changing and
competitive business environment in order to maintain leading position in the industry.

To take EFU General to the greater height, we are focusing more closely on the markets and
customers segments where we have a competitive edge, those where we can offer a superior
value proposition to our customers.

The Company’s Window Takaful Operations have grown manifold since its start in 2015. We
see further penetration in Takaful market in 2017.

We continue to invest in our people and systems and processes to better understand our
customer's needs, serve them in the way they require, increase collaboration and improve
efficiency.

Vision:
To continue our journey to be better than the best.
Mission:
To provide services beyond expectation with a will to go an extra mile. In the
process, continue to upgrade technology, human resource and reinsurance
protection.

Our Values
Our philosophy is to be the leading Company with service above par, with
integrity, excellence and professionalism. Following are our core values:

INTEGRITY & ETHICS

Conduct business with ethics, dignity, fairness and transparency.

EXCELLENCE We measure our performance by results but more by quality of

service.

PROFESSIONALISM

We believe professionalism is perfection. Business resources are utilized in a

manner to achieve optimum returns on resources.

OUR PEOPLE

In EFU we work like a family. Everyone is treated with respect and without any
discrimination.

CORPORATE SOCIAL RESPONSIBILITY

We donate to various institutions in health and education sectors, for improving the
lifestyle of common man.

Culture

Embed a high performance culture that points the organization towards the
common good and creates an intense passion for achievement at all levels.

Policies:
 Statement of Ethics

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.

Corporate Governance:
SAIFUDDIN N. ZOOMKAWALA(Chairman)

HASANALI ABDULLAH(Managing Director & Chief Executive)

RAFIQUE R. BHIMJEE(Director)

ABDUL REHMAN HAJI HABIB(Director)

MAHMOOD LOTIA(Director)

MUNEER R. BHIMJEE(Director)

TAHER G. SACHAK(Director)

MOHAMMED IQBAL MANKANI(Director)

ALI RAZA SIDDIQUI(Director)

Management:

Managing Director

Hasanali Abdullah, F.C.A.

Senior Deputy Managing Director

Mahmood Lotia, A.C.I.I.

Qamber Hamid, LL.B., LL.M.

Deputy Managing Director

Abdur Rahman Khandia, A.C.I.I.

Jaffer Dossa
M. Akbar Awan

Nudrat Ali

S. Salman Rashid

Senior Executive Directors

Altaf Qamruddin Gokal,( F.C.A.)

Khurram Ali Khan,( B.E.)

Muhammad Iqbal Lodhia

Shaukat Saeed Ahmed

Syed Muhammad Haider,( M.Sc)

Executive Directors

Darius H. Sidhwa, F.C.I.I.

Imran Ahmed, M.B.A., B.E., A.C.I.I.

K. M. Anwer Pasha, B.B.A.

Kamran Arshad Inam, M.B.A., B.E.

M. Shehzad Habib
Mohammad Iqbal Dada, M.A., A.C.I.I.

Salim Razzak Bramchari, A.C.I.I.

Syed Kamran Rashid

Syed Rizwan Hussain, M.B.A.

Deputy Executive Directors

Abdul Hameed Qureshi, M.Sc.

Abdul Sattar Baloch

Abdul Wahid

Aftab Fakhruddin, B.E., Dip C.I.I.

Ali Kausar

Javed Iqbal Barry, M.B.A., L.L.B., F.C.I.I.

Khalid Usman

Khurram Nasim, B.S. (Ins. Mgmt)

M. Shoaib Razzak Bramchari

Muhammad Sohail Nazir, M.Sc., A.C.I.I.

Musakhar-uz-Zaman, B.E.

Senior Executive Vice Presidents

Abdul Majeed

Abdul Qadir Memon, M.Sc.

Arshad Ali Khan, F.C.M.A.

Aslam A. Ghole, F.C.I.S.

Atif Anwar, F.C.C.A., M.B.A.

Faisal Gulzar

Farrukh Aamir Beg, M.B.A.

Irfan Raja Jagirani

Liaquat Ali Khan, F.C.I.I., A.M.P.I.M.

Mansoor Abbas Abbasi, B.E.

Masroor Hussain

Mazhar H. Qureshi
Mohammad Afzal Khan, E.M.B.A.

Mohammad Amin Sattar, M.Com

Mohammad Arif, M.A.

Mohammad Kamil Khan, M.A.

Mohammad Naeem Shaikh, A.C.I.I.

Mohammad Shoaib, M.A.

Muhammad Arif Khan

Muhammad Najeeb Anwar

Muhammad Rashid Akmal, M.B.A.

Muhammad Shakil Khan, M.B.A., B.E.

Muhammad Sohail

Muhammad Yousuf Jagirani, M.A.

Murtaza Noorani, F.C.C.A, C.A.T.

Nadeem Ahmad Khan

Pervez Ahmad, M.B.A.

Shaharyar Jalees, M.A.

Shahzad Zakaria

Executive Vice President

Abdul Bari

Abdul Hameed

Abdul Mateen Farooqui, M.Sc.

Abdul Rashid

Ali Asghar, B.E.

Ali Ghulam Ali, A.C.A.

Ali Raza

Anjum Kamal Khan, M.B.A.

Asghar Ali

Fakhruddin Saifee

Farman Ali Afridi, B.E.

Fatima Bano, M.B.A., A.C.I.I.

Ghulam Haider, M.Sc.

Iftikharuddin, L.L.B.

Imran Saleem, M.B.A., M.C.S.

Javed Iqbal Khan

Kamran Bashir, M.B.A.

Kashif Gul, B.E.

M. A. Qayum, M.Com

Malik Firdaus Alam

Mohammad Haji Hashim, L.L.B.

Ms. Ansa Azhar, A.C.I.I.

Muhammad Arshad Khan

Muhammad Azhar Ali

Muhammad Hussain

Muhammad Ilyas Khan, A.C.I.I.

Muhammad Mujtaba

Muhammad Razzaq Chaudhry

Muhammad Tawheed Alam, M.B.A., B.E.

Nadeemuddin Farooqi, L.L.B.

Quaid Jauhar

Rao Abdul Hafeez Khan

Riaz Ahmad

Rizwan Ahmed, M.B.A.

S. Anwar Hasnain, M.B.A.

S. M. Aamir Kazmi, L.L.B.

 Senior Vice Presidents

Abdul Aziz

Abdul Shakoor Piracha

Agha Ali Khan

Amanullah Khan

Amir Arif Bhatti

Asadullah Khan

Ashfaque Ahmed

Asif Mehmood

Atif Haider Khan, M.B.A.

Dr. Ghulam Jaffar, Ph.D.

Ejaz Ahmed Khan, M.B.A.

Farhat Iqbal

Hasan Riaz, M.B.A.

Haseeb Ahmad Bajwa, L.L.B.

Imran Yasin, M.B.E., A.C.I.I.

Kaleem Imtiaz, M.A.

Khalid Rafiq, M.B.A.

Liaquat Imran

M. Asif Ehtesam, M.B.A.

Mansoor Ahmed

Mansoor Hassan Khan

Mirza Mutahir Hussain

Mohammad Adil Khan

Mohammad Hanif

Mohammad Idrees Abbasi

Mohammad Saleem

Muhammad Ikram, M.B.A.

Muhammad Khalid Ahmed Khan, M.B.A.

Muhammad Naeem Ahsan

Muhammad Naseem

Muhammad Salahuddin

Muhammad Shahjahan Khan

Muhammad Sirajuddin

External Environment:
SWOT Analysis
Societal environment :
Political –legal Analysis:
Within Pakistan political ambitions and rise of communalism, fissiparous tendencies
areon the rise and may well continue for quite some time to time. Therefore, it
expectedthat the assurance companies might consider offering political risk coverage also.The only
area where Pakistan insurers consider giving cover is with regard to customsduty change
under certain conditions.Certain type of political risk at the international level has serious
implications forexporters. The term µpolitical risk has a wider connotation than
commonly understoodor assumed. It covers events arising not just from politics, but risks in the
course of international transactions. In this connection, it may be noted that export creditassurance
has evolved out of uncertainties relating to international trade, particularly due to
problems arising out of foreign legal jurisdiction, political changes and
currency exchange difficulties faced by many developing countries.The political
situation of Pakistan is not stable and after the war on terror it has gone worse especially
for the business sector, and due to inconsistent policies of governmentevery new
government set different policies which make difficult for the businesses togrow and be
consistent in their performance.
ECONOMICAL FACTORS
Interest rate at bank and interest rate of P.F variation very much affect to
insuranceindustry, because people always attract by higher return. Therefore, they do
not preferlower return policy.Unemployment also affects assurance industry, because
the unemployment people willnot have earning, so saving also affect to insurance sector
insurance industry willdirectly affected by Earthquake, Monsoon, and Natural calamity.
Because of theseevents turns into lots of damages, so the insurance companies have to
pay claim against policy.
Social Factor
The basic social factors that affect the life assurance sector are as under:

Population

Life style

Educational level

Level of earning

Societal benefits
TECHNOLOGICAL FACTORS
Internet as an intermediary in the current Pakistan market customer is not aware
aboutthe intrinsic value of insurance. He thinks of insurance only in the mount of March
as a tax saving measure.The security provide by an insurance cover is rarely thought
about. In such a scenarioInternet can be an effective medium for educating the
consumers about insurance. Itserves as a single window for disseminating product, process and
proceduralinformation to the consumers.Product development and target marketing through
the Internet with increase in thenumber of insurance companies there will be a need for market
segmentation andsubsequently product designed for each of them. In such a scenario
Internet can be aeffective channel for pushing product specific information to a
particular marketsegment.Consumer feedback about a particular product as well as
suggestions for different typesor covers can also be generated through the Internet.Retail
marketing is a commonly expected concept and the providers of the retailproducts and
service will try out for larger market and market share. There would be cutthrough
competition and the real benefit would be to the customers in terms of betterproducts,
distribution, pricing, post transaction service and technology.

Opportunities

• We expect expansion in Window Takaful Operations in coming years.

• New business particularly related to CPEC.

Threats

• Increased competition
• Shortage of technical personnel

Internal Environmet (SWOT)

Strengths
 Related with banks.
 Trust increase of customers due to trust on banks.
 Customer having a trust on efuas it older insurance company operating in Pakistan.
 Market in very largas efuin engagedin every bank.

Weakness
 Less competitive staff
 Product rangeis lessthan the competitors.
 Communication gap between management and lower staff

Corporate structure:
Human Resource Mangement:
Employees are the most important asset of any organization. The future of the
firmdepends on the performance of its employees. The role of a human resource
manager ispivotal in managing the expectations and performance of the employees.
Read on toknow more about human resource manager's job description, human resourcemanager's
duties, and the requirements of a human resource manager.

Human resource management refers to the coherent and strategic approach tounderstand the needs
of the people working in a firm. Undoubtedly, the growth of a firmis totally based on the
individual and the collective efforts of its workers.Human resource management evolved as
a serious discipline in the business world when it wasunderstood that employees are not
mere business units, like machines and automobiles.Instead, they are a valuable human
manpower and have personal, emotional, andfinancial needs. When it was realized that human
beings are not unidimensionalentities, human resource management was developed to
cultivate a positive work culture in the organization, motivate employees, streamline the
recruitment process,and provide employee training.

The penalties for not being correctly staffed are costly. Understaffing loses the businesseconomies of
scale and specialization, orders, customers and profits. Overstaffing
is wasteful and expensive, if sustained, and it is costly to eliminate because of modernleg
islation in respect of redundancy payments, consultation, minimum periods of notice,
etc. Very importantly, overstaffing reduces the competitive efficiency of the business.Sta
ffing level planning requires that an assessment of present and future needs of
theorganization be compared with present resources and future predicted
resources. Appropriate steps then be planned to bring demand and supply into
balance.Thus the first step is to take a 'satellite picture' of the existing workforce
profile(numbers, skills, ages, flexibility, sex, experience, forecast capabilities,
character,potential, etc. of existing employees) and then to adjust this for 1, 3 and 10
years ahead by amendments for normal turnover, planned staff movements,
retirements, etc, in line with the business plan for the corresponding time frames.The
result should be a series of crude supply situations as would be the outcome of present
planning if left unmodified. (This, clearly, requires a great deal of informationaccretion,
classification and statistical analysis as a subsidiary aspect of personnelmanagement.)

What future demands will be is only influenced in part by the forecast of

the personnelmanager, whose main task may well, is to scrutinize and modify the crude predictions
of other managers. Future staffing needs will derive from:

Sales and production forecasts

The effects of technological change on task needs

 Variations in the efficiency, productivity, flexibility of labor as a result of training, work
study, organizational change, new motivations, etc.

Changes in employment practices (e.g. use of subcontractors or agency staffs,hiving-off tasks,

buying in, substitution, etc.)

Variations, which respond to new legislation, e.g. payroll taxes or their abolition,new
health and safety requirements

Hr performe the following duties

 RESOURCE HUNTING AND RECRUITMENT

 COACHING THE EMPLOYEES

 MOTIVATION AND PERFORMANCE APPRAISAL

 SALARY AND PAYROLL NEGOTIATIONS