Islamabad: EFU General Insurance Limited has announced a significant development concerning its subsidiary, EFU Life Assurance Limited. According to a disclosure made on October 12, 2026, the Board of Directors of EFU Life Assurance Limited has opted not to proceed with the proposed acquisition of Waada Digital (Private) Limited. This decision was confirmed through a public disclosure viewed on PUCARS, a platform for public company announcements.

The announcement was made in compliance with Section 96 and Section 131 of the Securities Act 2015, and Regulation 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited. The information was disseminated to ensure transparency regarding the dealings of listed securities.

EFU Life Assurance Limited had initially disclosed its interest in acquiring 100% of the issued share capital of Waada Digital (Private) Limited. However, after mutual agreement between both parties, the decision was made to halt the acquisition process. The Board of Directors of EFU Life Assurance Limited confirmed this decision, emphasizing the mutual nature of the agreement to withdraw from the acquisition.

According to information available from the Pakistan Stock Exchange (PSX), this move marks a notable shift in the strategic direction of EFU Life Assurance Limited. The cancellation of the acquisition underscores the dynamic nature of corporate agreements and the evolving landscape of company strategies.

EFU General Insurance Limited, headquartered at Kamran Centre, 1st Floor, 85 East, Jinnah Avenue, Blue Area, Islamabad, remains committed to maintaining transparency with its stakeholders. The disclosure was formally communicated by Mr. Amin Punjani, the Company Secretary, ensuring that all pertinent information is accessible to investors and the public.