EFU Life Assurance Limited (PSX: EFUL) is considering the acquisition of Waada Digital (Private) Limited, a Pakistani insurtech startup, after its Board of Directors approved the proposed transaction at a meeting held on June 29, 2026, according to a material information notice submitted to the Pakistan Stock Exchange (PSX).
The company said the proposed acquisition remains subject to due diligence, commercial negotiations, execution of definitive transaction documents, and all necessary corporate and regulatory approvals before it can be completed.
EFU Life is one of Pakistan’s largest private-sector providers of life, Takaful, and health insurance and operates as a subsidiary of EFU General Insurance Limited.
Founded in 2020 by Ishaq Kothawala, Waada Digital is a Karachi-based insurtech startup focused on making digital, Shariah-compliant insurance affordable and accessible for underserved and emerging consumer segments through technology-driven insurance solutions.
The proposed acquisition comes as EFU Life continues to expand its digital and financial inclusion strategy.
Earlier this year, the company entered into a strategic partnership with ABHI Microfinance Bank Limited to provide life insurance products to the bank’s customers, aiming to broaden access to financial protection across Pakistan.
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