CCP approves 100% acquisition of EFU Health by EFU Life

ISLAMABAD: The Competition Commission of Pakistan (CCP) has greenlit a merger within the Health Insurance and Health Takaful sector. 

As per details, the sanctioned transaction involves EFU Life Assurance acquiring 100% shareholding of M/s. EFU Health Insurance Limited.

EFU Life Assurance, a publicly listed company, specializes in life insurance, encompassing ordinary life business and pension fund business. On the other hand, EFU Health Insurance Limited, an unlisted public limited company, primarily offers health insurance and health takaful cover in Pakistan.

The acquisition sees EFU Life Assurance taking over EFU Health from M/s. EFU Services (Private) Limited and six other shareholders. EFU Life will issue its own ordinary shares at a swap ratio to EFU Health's current shareholders.

Following the Phase 1 Review, the CCP concluded that the proposed transaction would not result in the acquirer gaining dominance in the relevant market post-transaction completion, leading to the authorization of the merger.

The approval of EFU Health's acquisition by EFU Life signifies a significant milestone in Pakistan's health insurance and health takaful sector. It underscores the ongoing consolidation and strategic realignment within the industry, potentially leading to enhanced services and offerings for customers.