Jazz International takes control of TPL Insurance after buying 76.33% stake
The Veon backed telecom group completed its purchase on 13 July and has already reshaped the insurer's board and finance team.
Jazz International Holding Limited has taken control of TPL Insurance Limited. The company said it completed the acquisition of 76.33 percent of the insurer's issued share capital on 13 July 2026, according to Profit.
The shares were bought from TPL Corp Limited under a Share Purchase Agreement, alongside a mandatory tender offer to other shareholders. They are now registered in Jazz International's name. The price of the main block was not stated in the report.
The deal took months to close. TPL Corp's board approved the sale in December 2025, with the Veon backed Jazz International named as the buyer. The two sides signed the share purchase deal on 6 March 2026. The Securities and Exchange Commission of Pakistan cleared the controlling stake on 11 February, and Jazz opened a public offer for a further 6.67 percent of the company at Rs30 per share on 20 April.
A new board and finance chief
Control brought immediate changes at the top. Jameel Yusuf Ahmed, who had been chairman, resigned from the board together with Rana Assad Amin and Benjamin Brink. Aamir Ibrahim, Farrukh H. Khan, Ahmet Kayhan and Moin M. Fudda joined.
Aamir Hafeez Ibrahim now chairs a seven member board that also includes Muhammad Ali Jameel, Naila Kassim and Aqueel E. Merchant. The new directors still need approval from the SECP. Shayan Mufti stepped down as company secretary and was replaced by Nadia Parveen Hussain. Khawaja Saad Sohail was appointed chief financial officer.
The companies framed the sale as a distribution and technology play. TPL Corp and TPL Insurance said the insurer's place in the Jazz and Veon ecosystem should bring wider distribution channels, stronger digital capabilities and room to grow technology based insurance products in Pakistan. No specific products or targets were given.
TPL Insurance is a listed company rather than an early stage startup, but the deal matters to the insurtech and fintech scene. It puts one of the country's best known digital insurers under the owner of Pakistan's largest mobile network, which already runs the JazzCash mobile wallet.
Reported from coverage in Profit by Pakistan Today.
