EFU Life Assurance Limited is in talks to acquire Waada Digital (Private) Limited, a Pakistani insurtech startup, the company disclosed to the Pakistan Stock Exchange (PSX) on Monday.
The acquisition was approved by the Board of Directors of EFU Life at a meeting held on June 29, 2026. The transaction remains subject to due diligence, negotiations, finalisation of definitive transaction documents, and all applicable corporate and regulatory approvals.
Waada Digital was founded in 2020 by Ishaq Kothawala and is headquartered in Karachi. The startup focuses on digital, Shariah-compliant insurance products targeting underserved and emerging consumer segments.
EFU Life is a subsidiary of EFU General Insurance Ltd and operates as one of leading private sector life, Takaful, and health insurance providers in Pakistan.
In April, EFU Life signed a strategic agreement with ABHI Microfinance Bank Limited to provide life insurance solutions to the customers of the bank, as part of efforts to expand financial protection across Pakistan.
