EFU Life launch Window Family Takaful Operations

EFU Life Assurance Ltd, the leading life insurance company of Pakistan introduces first Window Takaful Operations licensed by Securities & Exchange Commission of Pakistan. EFU Life Window Takaful Operations are being launched under the brand name ‘Hemayah’. The word ‘Hemayah’ is a derivative of the word ‘Himayat’ meaning protection and support in Arabic. Hemayah offers a full range of Shariah compliant Family Takaful solutions for both individuals and corporates. The individual family takaful products are catered to the needs of savings, child financial planning, retirement, investment and saving for Hajj and Umrah and pure Takaful coverage. For Corporates, Takaful solutions are being offered under the Group Takaful cover. The penetration of family takaful in the life insurance industry of Pakistan is only 5% in terms of gross premiums. Being the leading life insurer for over 20 years, with Insurers financial strength rating of ‘AA’ (Outlook: Stable) by JCR VIS, EFU Life through its Window Takaful operation aims to provide the much needed impetus to the local takaful market to reach its full potential