Tuesday , 23 January 2018
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National-Bank signed a Bancassurance agreement with EFU Life

National-Bank of Pakistan has recently signed a Bancassurance agreement with EFU Life which is one of the country’s leading life insurance company. The agreement was signed in a ceremony held at NBP’s Head Office to commemorate the partnership in the wake of the expanding market for Bancassurance. The agreement signing ceremony occasion was graced by. Mudassir H. Khan – SEVP/Group Chief, CRBG-NBP and HuseinSachak – Director Bancassurance, EFU Life.

Mudassir H. Khan, GC CRBG- NBP, speaking on the occasion said that NBP and EFU Life joined hands by entering into a Bancassurance accord for selling life insurance products of EFU Life through NBP’s branch network and introduce a cross sales culture throughout the organisation. The alliance would serve to cater towards savings and protection needs of NBP’s clients. He added that NBP believes in creating value and convenience for their customers and continues to provide innovative financial solutions.

NBP is the largest state-owned financial institution of Pakistan and biggest strength of NBP is its widest penetration across all corners of the country with huge customer-base which makes NBP an ideal business place. Commenting on the occasion, HuseinSachak-Director Bancassurance, EFU Life, said that EFU Life is the leading private life insurance provider in Pakistan and is a part of EFU Group, comprising EFU General, the largest general insurance company & EFU-Allianz Health, a specialised health insurance Company in Pakistan.

Together the three companies form the largest insurance group of Pakistan having a history of over 80 years of caring & sharing. As a leading life insurer in the private life insurance sector, our Market share is 42% as of December 2015 based on the gross premium income and 48% by size of assets. He further said that EFU life credit rating assigned by JCR VIS is ‘AA+’ (Double A plus), with Outlook on the assigned rating ‘Stable’, which is a testament to the company’s strong capitalisation level vis-à-vis the nature of risks underwritten and a very high capacity to meet policyholders’ obligation.

He continued that it is a momentous occasion to be partnering with a brand like NBP, which is synonymous with trust, integrity and service quality. The ceremony was also attended by NBP and EFU Life officials including Syed Tariq Hasan SVP-Wing Head, Adnan Ahmed AVP-Product Manager Banca, Shoaib Hassan Rind Manager-Marketing & Sales, Sohail Ahmed-Banca Operations whereas on behalf of EFU Life. Kamran Ansari CEO-Allianz EFU, Ms Sumera Farooq Head of Bancassurance – Allianz EFU witnessed the occasion