Jazz International Holding Limited has formally confirmed its intent to acquire shares and assume control of TPL Insurance Limited, replacing VEON Group Holding Company Ltd and its affiliates as the acquiring entity. The announcement was made through a company statement issued today, with Arif Habib Limited acting as the Manager to the Offer and submitting the relevant addendum on behalf of Jazz International Holding.
The addendum specifies that the acquisition of TPL Insurance shares and control will now proceed under Jazz International Holding Limited, in coordination with Pakistan Mobile Communications Limited. The process will be conducted in accordance with the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
This development formalizes Jazz International Holding’s commitment to consolidating its position in Pakistan’s insurance sector through strategic acquisition, while complying with legal and regulatory requirements governing substantial share acquisitions.
The addendum is scheduled to be published in leading newspapers, including Business Recorder and Nawa-i-Waqt, on December 17, 2025. Publication of the addendum marks a key procedural step, informing shareholders, regulators, and the public of the updated acquisition framework and ensuring transparency in the transaction.
Analysts note that this move reflects Jazz International Holding’s broader strategy to expand its financial services footprint in Pakistan, leveraging synergies with Pakistan Mobile Communications Limited and enhancing operational control of TPL Insurance. By replacing VEON Group as the acquiring entity, Jazz International Holding signals its readiness to take on direct management responsibilities and strategic oversight of the insurance business.
TPL Insurance Limited, a prominent player in Pakistan’s insurance industry, will now be under the stewardship of Jazz International Holding, with anticipated operational and strategic alignment to support growth initiatives. The acquisition is expected to strengthen TPL Insurance’s market positioning, service capabilities, and integration with the wider corporate and mobile ecosystem of its new parent company.
Stakeholders, including investors, regulators, and market participants, will closely monitor the progress of this acquisition as it moves through formal regulatory filings and shareholder approvals. Jazz International Holding’s approach underscores a disciplined and compliant acquisition process, aligned with corporate governance and market standards in Pakistan.
With this acquisition, Jazz International Holding aims to reinforce its presence in the financial services sector, enhance shareholder value, and create opportunities for growth and innovation in insurance offerings, while consolidating its role as a leading corporate player in Pakistan’s evolving financial landscape.
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