KARACHI, April 29: The EFU General Insurance in its 73rd annual general meeting of the shareholders held in Peshawar declared a post-tax profit of Rs506 million, a press release of the company said on Saturday.

The meeting, which was presided over by Chairman Rafique Bhimjee, approved the 2005 accounts that showed company’s premium at Rs6.64bn indicating a rise of 32 per cent.

The shareholders decided an increase in the authorised capital to Rs1.5 billion.

The 14th annual general meeting of the shareholders of the EFU Life Assurance was held on Friday in Islamabad with Saifuddin Zoomkawala in the chair. The meeting was informed that the company earned a post-tax profit of Rs95 million in the year 2005.