VEON Completes Acquisition of Majority Stake in TPL Insurance
KARACHI: VEON Ltd. has completed the acquisition of a 76.33% controlling stake in TPL Insurance Limited through its subsidiary Jazz International Holding Limited (JIHL). The transaction, valued at approximately PKR 4.55 billion (US$16.4 million), follows the successful completion of a mandatory tender offer and strengthens VEON’s presence in Pakistan’s digital financial services sector.
TPL Insurance, an AA-rated InsurTech company, offers a fully digital platform for motor, health, fire, property, and general insurance products. As of the end of 2025, the company had issued more than 277,000 policies and recorded PKR 5.7 billion in gross written premiums. The acquisition adds insurance services to JazzWorld’s ecosystem, which already includes JazzCash and Mobilink Bank and serves over 100 million customers across Pakistan.
JazzWorld Expands Digital Finance Ecosystem with TPL Insurance Deal
VEON and JazzWorld said the deal will help expand access to affordable digital insurance products in one of the world’s most underinsured markets. Company executives described the acquisition as a major step toward building Pakistan’s most comprehensive digital financial services ecosystem by combining TPL Insurance’s expertise with JazzWorld’s nationwide digital reach and distribution network.
