Hierarchy EFU

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FINAL PROJECT

Submitted To: Ms Ayesha Anwar

Submitted By: Sibtain Abbas (101481)

Ali Musyab Naqvi (131811)

Institute of Management Sciences


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Table of Contents

Background 5Mission Statement 6

Vision 6

Organizational Chart 7

Efu Group 8

System Related Information 9

Financial Statements 11

Condensed Interim Balance Sheet 11

Condensed Interim Profit and

Loss Account

13

Condensed Interim Statement of

Comprehensive Income

13


Changes in Equity

14


Cash Flows

14


Premiums

15

EFU Branches 16


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EFU House, 6D Jail Road Lahore

Ph.: 35715616-8

Website:http://www.efuinsurance.com/

E-mail:[email protected]
http://www.efuinsurance.com/http://www.efuinsurance.com/http://www.efuinsurance.com/mailto:[email protected]:[email protected]:[email protected]://www.efuinsurance.com/


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Background

In 1932, Mr. Ghulam Mohammad, a far sighted man, established Eastern Federal UnionInsurance Company (EFU) with financial assistance from the Aga Khan III and the Nawab of

Bhopal. Mr. Abdur Rehman Siddiqui became the founder chairman. The company was originallyregistered at Kolkata.

In 1947, EFU found a new home in a new country. In Pakistan, EFU rapidly established itself asa progressive and innovative insurer. It gave the emerging insurance industry the leadership, the

manpower and the drive needed to grow in a situation where at one time, three-fourths of

insurance was held by foreign companies.

By 1961, EFU had become the flag bearer of Pakistan's insurance industry on the world stage

and the largest life company in Afro-Asian countries (excluding Japan) under the leadership of

Mr. Roshen Ali Bhimjee.

It remained so until 1972 when Life Assurance business in Pakistan was nationalized. ThereafterEFU operated solely as a General Insurance Company, and was subsequently renamed EFU

General Insurance Limited. Now EFU General is the largest non-life insurance company in the

country and the mother company of other insurance organizations of EFU Group.

Traditionally the EFU name has become synonymous with progressiveness and prompts claim

settlement and now the EFU being the largest insurance group provides a full range of general,

life and health insurance services.


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Vision

Our Vision is to make EFU Life one of the most respected and successful financial services

organization in the world. Our strategy to achieve our vision is: build our core capabilities, serveour clients beyond their expectations, adhere to our core values and be a good corporate citizen.

To continue our journey to be better than the best.

Mission

To provide services beyond expectation with a will to go an extra mile. In the process, continue

to upgrade technology, human resource and reinsurance protection.

Values

Our philosophy is to be the leading company with service above par, with integrity, excellenceand professionalism. Following are our core values:

Integrity & Ethics

Conduct business with ethics, dignity, fairness and transparency.Excellence

We measure our performance by results but more by quality of service.

Professionalism

We believe professionalism is perfection. Business resources are utilized in a manner to achieve

optimum returns on resources.

Our people

In EFU we work like a family. Everyone is treated with respect and without any discrimination.

Corporate Social Responsibility

We donate to various institutions in health and education sectors, for improving the lifestyle ofcommon man.


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EFU GROUP

EFU General Insurance Limited

Rating AA Stable Outlook

Shaping the future of insurance in Pakistan

EFU Life Assurance Limited

ISO 9001 CertifiedPakistans largest private sector life assurance company

Allianz EFU Health Insurance Limited

Pioneer and LeaderPakistans only specialized health insurer


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System Related Information

ORACLE

Database Oracle 11g

Developer Oracle Corporation

Type Object Relational Database

Management System

(ORDBMS)

Front End Delphi

Source Code Assembly language, C, C++

Operating System Windows 32 bit, 64bit

Application Category Acquired System

DB/File Structure Oracle

Hardware Platform SODM

Supporting Resources Tuning Pack, Data Integrator

Real Application Cluster


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System Related Information (continued)

EFU General Insurance runs their Core Insurance Application on Oracle Exadata V2 which is

World's First Online Transaction Processing (OLTP) Database. The Oracle Exadata Machine V2

made by Sun and Oracle replaced Efu Legacy system.

This provides cost-effective storage management by automating processes, minimizing costly

I/O operations, compressing data and maximizing the utilization of tiered storage resources for

all your enterprise databases.

Deals with transactions made under different accounts head and modernize its IT systems and

serve as the underlying data and storage infrastructure for its new insurance application.

EFU replaced its obsolete/legacy system to respond better and faster to business challenges. WithOracle, EFU will be able to open more sales channels via the Web and facilitate integration with

other companies. As a result, more quality services can be offered to its customers via the Web

because of the more agile and reliable IT infrastructure. With the deployment of this database as

it provides better performance, reliable information and manageable IT infrastructure to EFU,

enabling them to deliver the highest quality of service at low cost and it will also lower their

operational cost due to centralized environment.

EFU previous Software

COBOL was the first and previous software used by EFU and it is one of the oldest

programming languages. Though it is not much efficient and fast as compared to ORACLE. As

the time passes and change in technology and to meet business challenges EFU replace their

software. But there is one drawback of ORACLE, internet disconnection causes in ORACLE to

stop their work.


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FINANCIAL STATEMENTS

Condensed Interim Balance Sheet as at 31 March 2013


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Condensed Interim Profit and Loss AccountFor the three months period ended 31 March 2013

Condensed Interim Statement of Comprehensive IncomeFor the three months period ended 31 March 2013


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Condensed Interim Statement of Changes in EquityFor the three months period ended 31 March 2013

Condensed Interim Statement of Cash FlowsFor the three months period ended 31 March 2013


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Condensed Interim Statement of PremiumsFor the three months period ended 31 March 2013 (Unaudited)


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EFU Offices in Pakistan

Karachi Lahore City Branch Islamabad

Head Office City Branch 2nd

Floor, Dodhy Building

EFU House 32, C-1 Ghalib Road 52-E Blue Area Jinnah Avenue

M.A Jinnah Road Ph: 37352934 Ph: 2604772-4

Ph: 32313471-90

Karachi Lahore Division Rawalpindi

City Branch Co-operative Building 23 2nd

Floor, Ferozsons Building

6th

Floor, Efu House Shahrah-e-Quaid-e-Azam Rawalpindi Cantt

M.A Jinnah Road Ph: 37312166 Ph: 55143235563065

Ph: 32201567-68

Karachi Clifton Branch EFU House, Ground Floor Multan

311 & 312 Clifton Centre 6-D Jail Road Lahore Rajput Commercial Centre

Ph: 35873151-3 Ph: 35790757 Ph: 478037245800901

Abbottabad D.G. Khan Faisalabad

116 Iqbal Shopping Street No.2 Block-Z Ahmed Plaza Bilal Road

Complex Mall Road Model Town Faisalabad

Ph: 23333 Ph: 0642-469360 Ph: 2610363

Vehari Bahawalpur Chichawatni

56-B, Grain Market Circular Road 44 Railway Road

Ph: 06733-62900 Ph: 2884624 Ph: 040-5486848

Chishtian Layyah Rahim Yar Khan

105-E Opposite Bank of Punjab 7-Shaheen Market

Chishtian Chowbara Road Shahi Road

Ph: 0632-503989 Layyah Ph: 5873794

Gujranwala Hyderabad Mardan

3rd

Floor .Din Plaza Al-Falah Chambers Dr. Zawar Hussain Building

G.T. Road Jinnah Road 337-B The Mall Mardan

Gujranwala Ph: 2611397 Ph: 0937-862294

Ph: 845883-84

Sahiwal Quetta Peshawar

1st

Floor, Sattar Complex 42-Reagal Plaza 7-10, Upper Ground Floor

Stadium Road Circular Road Azam Tower

Sahiwal Quetta Jamrud Road Peshawar

Ph: 4220522 Ph: 2822926 Ph: 5846120

Sargodah Sialkot Sukkur

1st

Floor, Improvement 1st

Floor, Riaz Plaza 9, Glammour Centre

Trust Plaza 26, Fatima Paris Road 1st

Floor Mission Road

Jinnah Road Sialkot Sukkur

Sargodah Ph:4267001-3 P.O. Box No. 179

Ph: 3721381 Fax:052-4267583 Ph: 5823936

Fax: 3721586 Fax:5626512


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Some Questions about EFU?

1) What is the background of EFU?2) What is the vision of your company?3) What is the mission statement of EFU?4) What is the Accounting system of EFU?5) What software is used by EFU?6) What is your previous software?7) What is the Hardware platform and OS of ORACLE?8) Any Drawback of ORACLE?9) What are the financial statements of EFU?10) Tell us about EFU groups and their ratings?

Hierarchy EFU

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