Jazz Int’l Holding Ltd enters agreement to acquire controlling stake in TPL Insurance

ISLAMABAD: Jazz International Holding Limited, a subsidiary of VEON incorporated in the UAE, has entered into a definitive agreement to acquire a controlling stake in TPL Insurance Limited (TPL Insurance), a publicly listed insurance company in Pakistan, for a purchase price of approximately Rs4.15 billion.

TPL Insurance is a digital-first insurance provider offering auto, health, fire, and property insurance products through its well-established distribution capabilities and holds a general insurer license. The company reported Gross Written Premium (GWP) of Rs5.7 billion and more than 277,000 policies issued as of December 31, 2025. An AA-rated insurer and widely recognized as one of Pakistan’s leading InsurTech players, TPL Insurance continues to strengthen its position through a fully digital operating model that enables scalable, technology-driven insurance solutions.

“The acquisition of TPL Insurance marks an important step in our mission to build a comprehensive digital services ecosystem that expands financial inclusion in Pakistan. By integrating insurance into our broader digital financial services portfolio—including JazzCash, Mobilink Bank, and FikrFree — we are creating new ways for millions of Pakistanis to access financial protection, not just payments,” said Aamir Ibrahim, Chief Executive Officer of JazzWorld.

“Pakistan remains significantly underinsured, and digital platforms provide a powerful opportunity to close this protection gap. Together with TPL Insurance, we look forward to scaling modern, technology-driven insurance solutions that are accessible, affordable, and designed for the needs of Pakistan’s growing digital population,” he added.

The transaction is expected to close during Q2 2026, subject to regulatory approvals, and represents an important step in expanding digital financial services in Pakistan. The transaction between TPL Corp Limited and Jazz International Holding Limited remains subject to clearance from the Competition Commission of Pakistan (CCP).

Copyright Business Recorder, 2026