CONCEPTS OF CHANGE AND LEADERSHIP IN EFU GENERAL INSURANCE LIMITED
INTRODUCTION
Presently EFU is the leading insurance group in Afro-Asia excluding Japan, providing a full range of insurance services. This includes life, health and general insurance. A pillar of EFU's strength lies in its close and long-term (over 50 years) relationship with its main reinsurer, Munich Re of Germany, largest reinsurance companies in the world.
HISTORY OF LEADERSHIP & CHANGE IN EFU
From 1988 to 1996, EFU was under leadership of Saif Kalani, chairman of EFU. Leadership approach of Mr. Kalani was much directive (Leader-centric), at that time there was no concept of Emergence approach; environment wasn’t complex at that time. And all the major decisions including finance, management, and marketing were taken by Mr. Kalani (top management). During this time, Company was normal success. He retired in 1996, and there comes the new chairman, Umair Memon, who was a retired army officer, who was having reputation of being so harsh. As was expected, he applied strict policies to workforce and fired couple of employees who he didn’t like. Internal environment changed as workforce lost trust from new leader. And external environment begins to change as new competitor came in market. Market share of EFU decline in just one year, as a result, new leader fired some more member of workforce. This created lack of trust between leader and follower. Situation was going from bad to worse, profit was declining as a result of reduced productivity of workers due to change. Companies suffered loss in year 1995. Mr memon resigned and Arsalan Ansari took the charge, and is still in charge. And company has become top among top now.
CHANGE OF LEADERSHIP
Mr. Arslan came in charge when EFU ...