KARACHI, June 9: EFU Life Assurance Limited — a stock market listed company — announced on Monday that it had made pretax profit of Rs40.3 million and after tax profit of Rs24.8 million for the year 2002.

The company declared dividend at 10 per cent and claimed to be “the first private sector life insurance company of Pakistan which had declared dividend after wiping out all accumulated losses.”

EFU Life said it held 57 per cent share of the private life insurance sector with a share of 63.3 per cent in individual life insurance market and 45.6 per cent in group life insurance market. The company was in its 10th year of group benefits and eighth year of individual life operations.

Total gross premium income of EFU Life stood at Rs1.1 billion for 2002 compared with Rs0.7 billion the year ago, showing an increase of 57 per cent.