EFU General Insurance Ltd

The Board of Directors of EFU General Insurance Limited on 25th February 2021 approved the annual financial statements for the year ended 31 December 2020.

Despite the Covid 19 Pandemic the Company holds a leading position in non-life insurance business. It created another history by becoming the first company to underwrite premiums (including Takaful Contributions) of Rs. 22.6 billion.

The underwriting profit for the year was Rs. 739 million as compared to Rs. 505 million in the preceding year i. e. increased by 46%. The after tax profit was Rs. 2,371 million (earning per share was Rs. 11.85).

The market value of investments and properties increased from Rs. 28 billion in the preceding year to Rs. 30 billion.

The Board of Directors recommended final cash dividend @ of Rs. 5.50 per share (i.e 55%) in addition to already paid three interim cash dividends of Rs. 1.50 per share i.e 15% in each quarter, making total distribution for the year to 100 % (i.e Rs. 10.00 per share).

The Company received this year Pakistan Stock Exchange Top 25 Companies award 2019. Pakistan Stock Exchange confers this award to companies listed on PSX based on their performance of governance and financial performance.

The Company is rated by A. M. Best, the world’s specialized insurance rating agency and has assigned Financial Strength Rating of “B+” and a Long-Term Issuer Credit Rating of “bbb-” with Stable Outlook for both. The Company is also rated by two national rating agencies i.e. VIS Credit Rating Company Ltd. and Pakistan Credit Rating Agency. Both the rating agencies have assigned rating of AA+ with stable outlook.***