In 1932, Mr. Ghulam Mohammed, future Governor General of Pakistan, co-founded Eastern Federal Union Insurance Company Ltd in Calcutta with H.H. Aga Khan and H.H. Nawab of Bhopal, offering General and Life Insurance.
By 1961, EFU had become the flag bearer of Pakistan’s insurance industry on the world stage, and the largest life company in Afro-Asian countries (excluding Japan) under the leadership of our late chairman Mr. Roshen Ali Bhimjee. It remained so until 1972 when Life Insurance industry in Pakistan was nationalized.
In 1990, the Government of Pakistan reopened the life insurance business to the private sector organizations and EFU Life Assurance Ltd started operations in November 1992 as the first private sector life insurance company.
