This newsletter gives us a periodic opportunity to keep you, our clients, abreast of the progress of your Company and the future developments in the pipeline.
I am pleased to confirm that despite the ongoing challenging times your Company continues to go from strength to strength. The total gross premium of the Company last year was over Rs 10 Billion and the market value of the policyholders’ funds we manage now exceed Rs. 24 Billion. Our main policyholders’ fund, Managed Growth Fund
(market value of around Rs. 23 billion) has also provided good long term returns to our policyholders with a return, net of all charges, of 13.31% p.a. over the last 10 years as at December, 2011.
This year too we will continue to explore ways to improve our products offering and our level of service to you. A byproduct of this journey of improvement is that the Consumers Association of Pakistan has, once again, chosen us as the best Life assurance company for 2011-the fourth consecutive year!
I am also pleased to inform you that EFU Life’s credit rating has been reaffirmed AAOutlook (Stable) by Japan Credit Rating Agency Ltd. This rating signifies the Company’s longstanding tradition of exceptional performance, continued financial growth, enlightened management practices and ethical business conduct. In conclusion, please accept my heartfelt thanks for your continued support of our Company.