Karachi: VIS Credit Rating Company Limited (VIS) has officially withdrawn the Insurer Financial Strength (IFS) ratings previously assigned to EFU Health Insurance Limited (EFUH), following its amalgamation into EFU Life Assurance Limited (EFUL). The merger, effective as of May 1, 2024, comes under the scheme approved by section 284 of the Companies Act, 2017.

According to VIS Credit Rating Company Limited, the integration of EFUH into EFUL marks a significant transition in the operational structure of the entities involved. This change necessitates the withdrawal of the IFS ratings that were specific to EFUH, as the company no longer operates as a standalone entity.

The amalgamation aligns with strategic business restructuring and is anticipated to streamline operations, enhance service delivery, and strengthen the financial health of the unified entity under EFU Life Assurance's broader corporate umbrella.