TPL Insurance Limited has been renamed JazzSure Insurance Limited effective October 7, after Jazz International Holding Limited, a VEON subsidiary, acquired a 76.33% controlling stake on July 13, the company said.
The listed company disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday.
“Consequent upon completion of the acquisition on 13th July 2026 of a controlling stake in the Company by Jazz International Holding Limited, a subsidiary of VEON Ltd., a global digital operator, Jazz International Holding Limited now holds 76.33% of the issued share capital of the company,” read the notice.
Pursuant to the acquisition, the members of TPL Insurance at their Extraordinary General Meeting resolved to change the name from “TPL Insurance Limited” to “JazzSure Insurance Limited”.
“Consequently, the company’s name has changed from ‘TPL Insurance Limited’ to ‘JazzSure Insurance Limited’ with effect from 7th October, 2026.”
VEON Group Holding Company Ltd, a subsidiary of Nasdaq-listed VEON Ltd, first expressed its intention to acquire shares and control in TPL Insurance Limited on September 4, 2025, signalling a potential entry into Pakistan’s insurance sector. TPL Corp Limited, the majority shareholder in TPL Insurance with a 52.87% stake, granted its in-principle approval for the proposed transaction on September 8, 2025.
Later, on December 16, 2025, Jazz International Holding Limited was confirmed as the new acquirer of TPL Insurance, replacing VEON Group Holding Company Ltd. Jazz International Holding Limited is a subsidiary of VEON Ltd, meaning VEON Group remained the ultimate beneficial owner. The Board of Directors of TPL Corp Limited approved the final signing of a Share Purchase Agreement (SPA) for the sale of TPL Insurance to Jazz International Holding Limited on December 17, 2025.
The Securities and Exchange Commission of Pakistan (SECP) approved the acquisition of a controlling stake in TPL Insurance by Jazz International Holding Limited on February 11, 2026, anticipating an increase in insurance penetration and foreign investment. TPL Corp Limited formally entered into the Share Purchase Agreement with Jazz International Holding Limited on March 5, 2026, for the sale of shares and transfer of control of its subsidiary, TPL Insurance Limited.
On March 8, 2026, Jazz International Holding Limited officially entered into a definitive agreement to acquire a controlling stake in TPL Insurance for approximately Rs4.15 billion. The transaction aimed to expand Jazz’s digital financial services portfolio in Pakistan by integrating insurance with existing services like JazzCash, Mobilink Bank, and FikrFree. The Competition Commission of Pakistan (CCP) authorised the acquisition on April 14, 2026, following a Phase-I review, determining it was a conglomerate merger with no significant competition concerns.
Jazz International Holding Limited completed the acquisition of TPL Insurance Limited on July 13, 2026, acquiring a 76.33% stake and control of the company following the transfer of shares.
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