EFU Life and Soneri Bank sign a Strategic Partnership Agreement

EFU Life and Soneri Bank Limited have signed a landmark agreement for distributing life insurance products through Soneri Bank’s Digital and Alternative Channels. The digital signing ceremony was held at both organizations’ Head Office in Karachi. The agreement was signed by Mr. Taher G. Sachak, Managing Director & Chief Executive – EFU Life and Mr. Muhtashim Ashai, President & CEO- Soneri Bank Ltd. The ceremony was also attended by senior officials of both organizations.

EFU Life is a leading life insurance company in Pakistan and a key player in driving the inclusive insurance market for financial inclusion in Pakistan. As part of the largest insurance group in Pakistan, EFU Life protects millions of Pakistani’s through various insurance products.

Soneri Bank is one of the leading banks of Pakistan (within the medium sized bank category) and has an extensive distribution network with over 300 branches and ATMs nationwide. It continues to work towards the financial betterment of its customers and highly values to the patronage given by them.

Speaking at the occasion, Mr. Taher G. Sachak, Managing Director & Chief Executive Officer EFU Life, said “It gives an immense pleasure to have Soneri Bank on board as our strategic partner to launch a range of life insurance products. This partnership will provide both of us an opportunity to contribute towards the goal of financial inclusion through focused insurance solutions for various customer segments available at the entire Soneri Bank network. The penetration of life insurance is still too low i.e. 0.56% of total GDP and by launching such inclusive products, both organizations can work towards bringing large population of Pakistan in the financial safety net.”

Speaking at the occasion, Mr. Muhtashim Ashai, President & CEO of Soneri bank said “This partnership with EFU Life is important to the bank as it will bring an opportunity for Soneri Bank to provide one-window banking solutions to our customers as well as build propositions for long-term relationships with them. The bank is on its track to progress and such strategic alliances will result in innovative products and services for our customers.”

With this strategic alliance, EFU Life and Soneri Bank looks forward to serving its customers with top-of-the-line insurance products and cater to the needs and provide best financial solutions.