EFU Life - Window Takaful Operations

What EFU Life - Window Takaful Operations does

EFU Life - Window Takaful Operations operates the Hemayah Takaful window within EFU Life Assurance Ltd, a Pakistan Stock Exchange-listed life insurer headquartered in Karachi. The company provides Shariah-compliant life, health, savings, and protection products under a Window Takaful license regulated by the SECP, with Shariah compliance certification overseen by a dedicated Shariah Advisor. As of 2025, the operation manages PKR 263 billion in funds under management, has insured 14 million+ lives, paid PKR 11.96 billion in claims, and recorded PKR 2.44 billion in profit after tax.

The product portfolio spans Everyday Savings plans (Takaful Savings, Savings Plus, Humsafar travel savings, Nisa women-focused savings, Khushali prosperity plan, Guaranteed Acceptance without medical exam, Group Savings, Pilgrimage Plan for Hajj/Umrah, Accelerated Savings), Building Wealth products (Emerald, Capital Growth), child-focused savings, Corporate Benefits (critical illness, hospital cash, salary continuation, credit protection), Bancatakaful offerings distributed through 10+ Islamic banks (Dubai Islamic Bank, Askari Bank, Bank Islami, National Bank of Pakistan, Faysal Bank, Bank of Punjab, Standard Chartered, UBL, Habib Metropolitan Bank, Bank Alfalah), Inclusive Takaful micro/nano coverage through mobile wallets (Jazz, Jazz Cash, easypaisa, HBL, PayPak), and Digital Takaful via Bykea and Takaful Bazaar. The Thrive mobile app (winner of Best Insurance Tech of the Year at Pakistan Digital Awards 2026) and the PlanIT app provide self-service policy management, while the PRIMUS loyalty program layers merchant discounts onto retention.

Revenue is generated primarily through recurring takaful contributions from individual and corporate policyholders, supplemented by fund management fees on the PKR 263 billion AUM. Distribution runs through five channels: direct sales force, Bancatakaful partnerships with Islamic banks, corporate benefits sales, inclusive takaful through mobile wallets and digital platforms, and digital takaful via fintech partners. Recent strategic activity (2025-2026) has centered on embedding takaful into fintech ecosystems via easypaisa, expanding micro/nano takaful distribution with Bank Islami, Mashwara.ai, and Digitt+, and launching new products including Mukammal Sehat for health coverage, all of which signal an offensive push into digital and mass-market segments beyond the traditional high-net-worth savings customer.

Name

EFU Life - Window Takaful Operations

Legal name

EFU Life Assurance Ltd

Website

https://efuhemayahtakaful.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

EFU Life's Window Takaful Operations (Hemayah Takaful) provides Shariah-compliant life, health, savings, and protection products in Pakistan, distributing through Islamic bank partners, mobile wallets, and fintech platforms to over 14 million insured lives under PKR 263 billion in funds under management.

Ownership category

akta.pro rank

Product category

Family Takaful Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Takaful Bancassurance (Islamic Insurance Distribution) (FSABAGAM)

Keywords

• Family takaful insurance
• Shariah-compliant insurance
• Life and savings takaful
• Bancatakaful distribution
• Micro takaful products

Headquarters

HQ city

Karachi, Sindh

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Takaful Contributions: Recurring contribution payments from individual and corporate policyholders for life, health, savings, and protection takaful coverage under Shariah-compliant window operations
2. Fund Management Fees: Management fees earned from overseeing takaful funds under management totaling PKR 263 billion

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

EFU Life operates the Hemayah Window Takaful Operations, offering Shariah-compliant family takaful products including life protection, savings plans, wealth-building plans, child education planning, health coverage, retirement solutions, and corporate group benefits. Products are distributed through direct sales force, bancatakaful partnerships with 10+ Islamic banks, corporate benefits sales, inclusive takaful through mobile wallets, and digital takaful via fintech partnerships.

Product overview

EFU Life operates as a leading Life and Health Insurer and Family Takaful Operator in Pakistan, offering a comprehensive portfolio of Shariah-compliant insurance and savings products. The core product is Hemayah Takaful, which provides window takaful operations based on mutual cooperation and risk-sharing principles. The product ecosystem comprises multiple interconnected lines: (1) Life and Savings products including Takaful Savings Plan, Takaful Savings Plus Plan, Takaful Humsafar Plan, Takaful Nisa Savings Plus Plan, Takaful Khushali Plan, Takaful Guaranteed Acceptance Plan, Takaful Group Savings Plan, Hemayah Takaful Pilgrimage Plan, and Hemayah Takaful Accelerated Savings Plan under the Everyday Savings category; (2) Building Wealth products including Takaful Emerald Plan and Takaful Capital Growth Plan; (3) Child-focused savings through Takaful Child Savings Plan; (4) Bancatakaful distributed through 10+ banking partners (Dubai Islamic Bank, Askari Bank, Bank Islami, National Bank of Pakistan, Faysal Bank, Bank of Punjab, Standard Chartered, UBL, Habib Metropolitan Bank, Bank Alfalah) with over 30 named plan variants; (5) Corporate Benefits including group takaful, critical illness cover, hospital cash plans, and salary continuation; (6) Inclusive Takaful for micro/nano coverage through digital platforms (Jazz, Jazz Cash, PayPak, HBL, etc.); (7) Digital Takaful via Bykea and Takaful Bazaar; and (8) Health, Retirement, and Wellbeing solutions. The company supports customers through mobile applications (Thrive and PlanIT), the PRIMUS loyalty program, and fund management services including EFU Takaful Conservative Fund, Growth Fund, and Aggressive Fund.

Differentiator

Problem solved

Functional benefit

Brands

• PRIMUS: Loyalty program offering exclusive deals and discounts at leading brands
• Thrive
• WIN
• PlanIT

Products and services

• Takaful Savings Plan Basic savings plan for individual customers offering regular contributions with Shariah-compliant investment returns under Hemayah Window Takaful Operations.
• Takaful Savings Plus Plan Enhanced savings plan with additional benefits and higher contribution limits for individual policyholders seeking greater accumulation.
• Takaful Humsafar Plan Travel-focused savings plan designed for travel enthusiasts to accumulate funds for travel-related goals.
• Takaful Nisa Savings Plus Plan Women-specific savings plan with tailored benefits and flexible contribution options targeting female customers.
• Takaful Khushali Plan Savings plan focused on prosperity and well-being outcomes for individual policyholders.
• Takaful Guaranteed Acceptance Plan Savings plan with guaranteed acceptance and no medical examination requirement for policyholders.
• Takaful Group Savings Plan Group-based savings plan designed for employers and organizations to provide collective savings benefits to members.
• Hemayah Takaful Pilgrimage Plan Savings plan designed for individuals to accumulate funds specifically for Hajj and Umrah pilgrimage expenses.
• Hemayah Takaful Accelerated Savings Plan Savings plan with accelerated contribution options enabling faster fund accumulation for individual policyholders.
• Takaful Emerald Plan Premium wealth building plan with comprehensive coverage and growth features for individual policyholders.
• Takaful Capital Growth Plan Investment-focused plan aimed at capital appreciation through Shariah-compliant investments for individual policyholders.
• Takaful Child Savings Plan Savings plan designed for parents to fund children's education and future financial planning needs.
• Bancatakaful Bancatakaful distribution channel offering takaful products through 10+ Islamic and commercial bank partners across Pakistan, including over 30 named plan variants tailored for each bank's customer base.
• Corporate Benefits Group takaful solutions for employers including critical illness cover, credit protection schemes, fee continuation plans, hospital cash plans, and salary continuation plans.
• Inclusive Takaful Micro and nano takaful products distributed through digital platforms and mobile wallets, designed for mass-market accessibility and underserved populations in Pakistan.
• Digital Takaful Digitally distributed takaful products through fintech partnerships including Bykea and Takaful Bazaar for tech-savvy consumers.
• Retirement Solutions Retirement planning takaful products providing secure income for individuals during post-employment years.
• Health Products Health insurance solutions including the Mukammal Sehat Plan and corporate health coverage offerings.
• Wellbeing and Lifestyle Wellness-focused takaful products empowering well-being at every life stage for individual policyholders.

Quantifiable outcome

• PKR 11.96 Billion claims paid in 2025
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

24 partnerships are on record, tiered core and minor.

• easypaisacoreStrategic or Co-development Partner · 1 January 2026Strategic partnership to unveil Shariah-compliant takaful savings solution, marking a new milestone in their strategic partnership. The collaboration enables easypaisa users to access Islamic-compliant savings and protection products.
• Bank IslamicoreChannel Partner/ Reseller/ Distributor · 1 January 2026EFU Life and EFU General Insurance expanded partnership with Bank Islami to expand access to digital micro and nano takaful plans. Bank Islami serves as distribution channel for micro takaful products.
• Discount WorldminorGTM or Marketing Partner · 1 January 2026Strategic alliance to elevate PRIMUS Loyalty Program, providing exclusive deals and discounts at leading brands to EFU Life customers through Discount World's merchant network.
• BykeaminorChannel Partner/ Reseller/ DistributorDigital Takaful distribution partnership enabling Bykea's ride-hailing ecosystem to access micro takaful products through the app.
• Takaful BazaarminorChannel Partner/ Reseller/ DistributorDigital Takaful platform partnership for online distribution of takaful products to tech-savvy consumers.
• Dubai Islamic BankcoreChannel Partner/ Reseller/ DistributorBancatakaful partnership offering EFU Takaful Sarmaya Plan, EFU Takaful Child Saving Plan, and EFU Accelerated Savings Plan through bank branches.
• National Bank of PakistancoreChannel Partner/ Reseller/ DistributorBancatakaful partnership offering EFU Takaful Savings Plan and EFU Takaful Education and Marriage Plan through NBP branches.
• Standard CharteredcoreChannel Partner/ Reseller/ DistributorBancatakaful partnership offering EFU Zaman and EFU Takaful Bunyaad Plus Plan through Standard Chartered branches.
• JazzcoreChannel Partner/ Reseller/ DistributorInclusive Takaful partnership for digital distribution of micro takaful products through Jazz's mobile ecosystem.
• HBL (Habib Bank Limited)coreChannel Partner/ Reseller/ DistributorInclusive Takaful partnership for digital distribution through HBL's mobile and digital banking channels.
• Askari BankcoreChannel Partner/ Reseller/ DistributorBancatakaful partnership offering EFU Takaful ILM Plan and EFU Takaful Sarmaya Plan through Askari Bank branches.
• Faysal BankcoreChannel Partner/ Reseller/ DistributorBancatakaful partnership offering EFU Mustaqbil Takaful Plan, EFU Takaful Zenith Plan, and EFU Takaful WIN Fitcover Plan through Faysal Bank branches.
• Bank of PunjabcoreChannel Partner/ Reseller/ DistributorBancatakaful partnership offering EFU Takaful Saving Plan, EFU Takaful Child Savings Plan, EFU Takaful High Value Savings Plan, and EFU Takaful Women Savings Plan through BOP branches.
• UBL (United Bank Limited)coreChannel Partner/ Reseller/ DistributorBancatakaful partnership offering EFU Better Life Takaful Savings Plan, EFU Better Life Takaful Child Savings Plan, and EFU Better Life Takaful Shaheen Plan through UBL branches.
• Habib Metropolitan BankcoreChannel Partner/ Reseller/ DistributorBancatakaful partnership offering EFU Takaful Asaan Bachat Plan, EFU Takaful Kamyab Mustaqbil Plan, EFU Ladies Takaful & Investment Plan, and EFU Takaful Mustahkim High Value Saving Plan through HMB branches.
• Bank AlfalahcoreChannel Partner/ Reseller/ DistributorDual partnership through Bancatakaful (EFU Takaful Savings Plan, EFU Takaful Accelerated Savings Plan, EFU Takaful High Value Savings Plan, EFU Takaful WIN Savings Plan) and Inclusive Takaful for digital distribution.
• Bank IslamicoreChannel Partner/ Reseller/ DistributorBancatakaful partnership offering EFU Takaful Spiritual Journey Plan, EFU Nigehbaan Plan, EFU Takaful Accelerated Savings Plan, and EFU Takaful WIN Savings Plan through Bank Islami branches.
• Jazz CashcoreChannel Partner/ Reseller/ DistributorInclusive Takaful partnership for digital distribution of micro takaful products through Jazz Cash mobile wallet.
• ABL AMCminorChannel Partner/ Reseller/ DistributorInclusive Takaful partnership for cross-selling takaful products through ABL Asset Management Company's customer base.
• HBL AMCminorChannel Partner/ Reseller/ DistributorInclusive Takaful partnership for cross-selling takaful products through HBL Asset Management Company's customer base.
• SmartchoiceminorChannel Partner/ Reseller/ DistributorInclusive Takaful partnership for digital distribution of micro takaful products.
• PayPakminorChannel Partner/ Reseller/ DistributorInclusive Takaful partnership for distribution through PayPak digital payment network.
• Habib Metro BankminorChannel Partner/ Reseller/ DistributorInclusive Takaful partnership for digital distribution through Habib Metro Bank's mobile and digital banking channels.
• Waada DigitalminorChannel Partner/ Reseller/ DistributorInclusive Takaful digital platform partnership for micro takaful distribution.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• EFU General Insurance Limited: Sister company of EFU Life under the EFU Group offering general (non-life) insurance and family takaful. Operates in the broader Pakistani insurance market under the same parent brand with overlapping bancatakaful distribution.
• State Life Insurance Corporation of Pakistan: Pakistan's largest state-owned life insurer with an extensive branch and bancassurance network. Larger and broader incumbent in the same life insurance category, though historically more focused on conventional than takaful products.

Direct peers

• Pak-Qatar Family Takaful Limited: Specialized family takaful operator in Pakistan focused on Shariah-compliant life and health takaful. Direct competitor in the same niche with similar bancatakaful partnerships and savings-led product positioning.
• Jubilee Life Insurance Company Limited: One of Pakistan's largest listed life insurers offering both conventional and family takaful products through a similar bancatakaful and direct sales distribution model. Direct competitor in the same Pakistani Shariah-compliant insurance space with comparable bancassurance partnerships.
• Takaful Pakistan Limited: Pakistani family takaful operator offering Shariah-compliant savings and protection plans. Directly comparable in product focus, distribution approach, and target market, competing for the same bancatakaful shelf space.
• Adamjee Life Assurance Company Limited: Major Pakistani life insurer offering family takaful alongside conventional life insurance. Comparable in product portfolio, bancatakaful distribution approach, and target customer segments within the same Pakistani market.
• Dawood Family Takaful Limited: Pakistani family takaful specialist offering Shariah-compliant savings and protection products. Directly comparable in business model, Shariah-compliant underwriting approach, and target retail/corporate customers.

Regional players

• SALAMA Islamic Arab Insurance Company: UAE-based Islamic insurance company offering family takaful across the MENA region. Comparable in Shariah-compliant product structure and fund management model, though operating in a different geography.
• Amana Takaful Life PLC: Sri Lankan family takaful operator offering Shariah-compliant life insurance products with bank distribution. Comparable in takaful business model and bancassurance distribution, though operating in a different South Asian market.
• Etiqa Family Takaful Berhad: Leading Malaysian family takaful operator with Shariah-compliant life and health products distributed through bank partnerships. Comparable in business model and bancatakaful approach, though operating in the Malaysian market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@EFULifeOfficial
• Facebookfacebook.com/EFUHemayah
• LinkedInlinkedin.com/company/hemayahtakaful
• TikToktiktok.com/@efulifeofficial

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EFU Life - Window Takaful Operations