VEON completes TPL Insurance acquisition

• VEON completed the acquisition of a 76.33% controlling stake in TPL Insurance for about PKR 4.55 billion.
• TPL Insurance reported PKR 5.7 billion in gross written premiums and issued more than 277,000 policies during 2025.
• VEON said the acquisition adds insurance to a Pakistan digital financial ecosystem serving more than 100 million customers.

VEON (NASDAQ:VEON) completed its acquisition of 76.33% of TPL Insurance for approximately PKR 4.55 billion, or US$16.4 million.

The final consideration exceeded the PKR 4.15 billion purchase price announced in March after Jazz International completed the mandatory tender offer.

TPL Insurance reported PKR 5.7 billion in gross written premiums and more than 277,000 policies, while VEON said the transaction would not materially affect its current consolidated financial position.

The acquisition adds digital motor, health, fire and property insurance to JazzCash and Mobilink Bank under the wider JazzWorld ecosystem.

The transaction received Pakistani competition approval in April and was completed on July 13 after the shares transferred to Jazz International.