VEON to acquire TPL Insurance

Jazz has become Pakistan’s first telecommunications company to have a sister insurance company, as VEON Group — the parent company of Jazz — has reached a settlement to acquire shares and management control of TPL Insurance Ltd. The development was disclosed by TPL in a notice to the Pakistan Stock Exchange (PSX), while Jazz confirmed that the acquisition would allow it to offer tailor-made insurance products to its customers through digital platforms. Jazz CEO Aamir Ibrahim said the company has been at the forefront of digitising payments in Pakistan, supporting the Prime Minister’s digital economy agenda by promoting the widespread adoption of Raast QR codes. “Jazz’s ambition is to evolve from a traditional telecom provider to a digital service company, offering a full spectrum of services ranging from broadband and banking to payments, entertainment, and now insurance,” he added.