{"id":5840,"date":"2025-09-04T17:17:13","date_gmt":"2025-09-04T12:17:13","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=5840"},"modified":"2025-09-04T17:17:13","modified_gmt":"2025-09-04T12:17:13","slug":"veon-group-expresses-intention-to-acquire-pakistans-tpl-insurance","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=5840","title":{"rendered":"VEON Group expresses intention to acquire Pakistan\u2019s TPL Insurance"},"content":{"rendered":"

VEON Group Holding Company Ltd<\/a>, a subsidiary of the Nasdaq-listed VEON Ltd, has expressed its intention to acquire shares and control in TPL Insurance Limited, marking a possible entry into Pakistan\u2019s insurance sector.<\/p>\n

The development was disclosed by TPL Insurance Limited in its notice to the Pakistan Stock Exchange (PSX) on Thursday.<\/p>\n

According to a public announcement of intention, the proposed transaction remains subject to obtaining the requisite regulatory approvals, including clearance of fit and proper criteria from relevant regulatory authorities.<\/p>\n

VEON has not yet disclosed the number of shares or purchase price, as the agreement is contingent on due diligence and execution of definitive agreements.<\/p>\n

If the acquisition proceeds, VEON would be required to make a public offer for at least 50% of the remaining voting shares of TPL Insurance.<\/p>\n

TPL Corp Limited is the majority shareholder in TPL Insurance with 52.87% stake, followed by the Finnish Fund for Industrial Cooperation Ltd with 17.02%, and Entwicklungsgesellschaft MBH with 15.87%.<\/p>\n

The insurer has a paid-up capital of 198.39 million shares.<\/p>\n

Sharing its financial details, TPL Insurance reported total assets of Rs8.46 billion as of June 30, 2025, with shareholders\u2019 equity standing at Rs2.68 billion. The company posted a loss of Rs12 million in the first half of 2025, compared to a profit of Rs72 million in 2024.<\/p>\n

VEON Group, headquartered in Dubai, operates across five countries, including Pakistan, Ukraine, Kazakhstan, Uzbekistan, and Bangladesh.<\/p>\n

In Pakistan, VEON Group has a strong operational footprint through Pakistan Mobile Communications Limited (operating under the brand Jazz), the country\u2019s leading mobile operator, with over 70 million subscribers.<\/p>\n

VEON Group has demonstrated deep market understanding, regulatory compliance, and long-term investment commitment in Pakistan\u2019s telecom and digital sectors.<\/p>\n

Source: Business Recorder<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

VEON Group Holding Company Ltd, a subsidiary of the Nasdaq-listed VEON Ltd, has expressed its intention to acquire shares and control in TPL Insurance Limited, marking a possible entry into Pakistan’s insurance sector. The development was disclosed by TPL Insurance Limited in its notice to the Pakistan Stock Exchange (PSX) on Thursday. According to a […]<\/p>\n","protected":false},"author":1,"featured_media":5841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t