March 07, 2026 (MLN): Jazz International Holding Limited, the UAE-incorporated subsidiary of VEON and operator of Jazz in Pakistan, has signed an agreement to acquire a controlling stake in TPL Insurance Limited for approximately Rs4.15 billion.

The deal, involving shares held by TPL Corp Limited, is expected to be completed in the second quarter of 2026, subject to regulatory approvals including clearance from the Competition Commission of Pakistan (CCP) , according to a press release issued.

TPL Insurance is a digital-first insurer offering auto, health, fire, and property insurance products through its established distribution network.

 As of December 31, 2025, the company reported Gross Written Premium (GWP) of Rs5.7bn and had issued more than 277,000 policies.

An AA-rated insurer, TPL Insurance is widely recognized as one of Pakistan’s leading InsurTech players, supported by a fully digital operating model that enables scalable, technology-driven insurance solutions.

The acquisition, according to Aamir Ibrahim, Chief Executive Officer of JazzWorld, represents an important step in the company’s mission to build a comprehensive digital services ecosystem aimed at expanding financial inclusion in Pakistan.

He emphasized that integrating insurance into Jazz’s broader digital financial services portfolio including JazzCash, Mobilink Bank, and FikrFree would create new avenues for millions of Pakistanis to access financial protection in addition to payments.

He further highlighted that Pakistan remains significantly underinsured, noting that digital platforms offer a strong opportunity to help bridge the country’s protection gap.

Through the collaboration with TPL Insurance, the company aims to scale modern, technology-driven insurance solutions that are accessible, affordable, and aligned with the needs of Pakistan’s rapidly growing digital population.

The acquisition represents a key step in Jazz’s strategy to expand its digital financial services footprint by adding insurance to its growing fintech ecosystem.

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