Jazz International Holding Limited, a subsidiary of global telecom group VEON incorporated in the UAE, has signed a definitive agreement to acquire a controlling stake in TPL Insurance Limited, a publicly listed insurance company in Pakistan. The acquisition deal is valued at approximately Rs4.15 billion, marking a significant development in Pakistan’s digital financial services landscape.
TPL Insurance operates as a digital-first insurance provider, offering a range of insurance products including auto, health, fire, and property coverage. The company has built a strong presence in Pakistan’s InsurTech sector with a technology-driven operating model and established distribution network.
According to company data, TPL Insurance recorded Gross Written Premium (GWP) of Rs5.7 billion and issued more than 277,000 insurance policies as of December 31, 2025. The company holds a general insurer license and maintains an AA credit rating, reflecting its financial stability and operational performance in the insurance sector.
The acquisition aligns with Jazz’s broader strategy to expand its digital services ecosystem and strengthen its presence in financial technology and digital financial services.
Aamir Ibrahim, Chief Executive Officer of Jazz, stated that the acquisition represents a key milestone in the company’s long-term vision of creating a comprehensive digital platform that extends beyond telecom services.
He noted that integrating insurance services into Jazz’s digital financial portfolio, which includes JazzCash, Mobilink Bank, and FikrFree — will enable the company to provide broader financial protection services to millions of users across Pakistan.
Pakistan’s insurance penetration remains significantly low compared to global averages, leaving a large portion of the population without financial protection against risks. Industry experts believe that digital distribution channels can play a major role in bridging this gap by making insurance products more accessible and affordable.
Through this acquisition, Jazz aims to leverage its large digital user base and fintech infrastructure to scale technology-driven insurance products and accelerate the adoption of digital insurance services in the country.
The transaction is expected to close in the second quarter of 2026, subject to necessary regulatory approvals. The deal between TPL Corp Limited and Jazz International Holding Limited will also require clearance from the Competition Commission of Pakistan (CCP) before completion.
Once finalized, the acquisition could significantly strengthen the digital insurance ecosystem in Pakistan and contribute to expanding financial inclusion through integrated fintech and insurance services.