Business

EFU Life, First Women Bank sign agreement

Written by The Frontier Post

F.P. Report

KARACHI: EFU Life Assurance Ltd., the country’s leading private life insurance provider, has recently expanded its Bancassurance business through a strategic partnership with First Women Bank Limited.

The Agreement signing ceremony was held at the EFU Head office in Karachi. It was signed by Mr. Taher G. Sachak – Managing Director & Chief Executive of EFU Life & Mr. Farrukh Iqbal Khan – President & CEO of First Women Bank Ltd. The ceremony was also attended by Mr. Mohammed Ali Ahmed – Deputy Managing Director of EFU Life, and other senior officials of both organizations.

Financial planning is an integral part of a woman’s life regardless of occupation, and it helps them secure their future through convenient investment options. For a nation to succeed, female financial inclusion should be an utmost priority. First Women Bank, as its name suggests, caters to women and focuses on creating a dynamic environment that promotes economic development.

EFU Life has launched several initiatives in this domain, and its partnership with First Women Bank is another important milestone leading toward this goal. The proposition with First Women Bank is specially designed catering the needs of the female segment, e.g., Built-In Lifecare Female Benefit. Lifecare Female Benefit is a critical illness protection benefit that provides women coverage against 20 of its covered illnesses.

Speaking on the occasion, Mr. Taher G. Sachak – Managing Director & Chief Executive, EFU Life, mentioned, “EFU Life which is a leading Life Insurance brand in the country, is known for designing innovative solutions catering to various customer segments. Our partnership with the First Women Bank will enable us a unique platform to provide Bancassurance products and services to the female segment.

We are hopeful that through this partnership, we can cater to both the saving and protection needs of the bank’s new and existing female accountholders.
Mr. Farrukh Iqbal Khan – President & CEO of First Women Bank Ltd added “We at FWBL believe in creating a value and convenience for our customers and that this alliance would serve to cater to their savings and protection needs.”

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