VEON and JazzWorld Acquire TPL Insurance to Expand Digital Insurance Access Across Pakistan

VEON and JazzWorld Acquire TPL Insurance to Expand Digital Insurance Access Across Pakistan July 14, 2026 00:15 ET | Source: VEON Ltd. VEON Ltd. Dubai, United Arab Emirates Completion integrates insurance into a digital ecosystem serving over 100 million customers Dubai, New York and Karachi, July 14, 2026 – VEON Ltd. (Nasdaq: VEON, "VEON"), a global digital operator, today announces that its subsidiary Jazz International Holding Limited ("JIHL") has completed the acquisition of a controlling stake in TPL Insurance Limited ("TPL Insurance"), a publicly listed insurance company in Pakistan. Following completion of the transaction, including the successful completion of the mandatory tender offer, JIHL now holds 76.33% of the issued share capital of TPL Insurance. The aggregate consideration for the acquisition, including shares acquired from TPL Corp Limited and through the mandatory tender offer, amounted to approximately PKR 4.55 billion (~USD 16.4 million). An AA-rated insurer and Pakistan's premier InsurTech, TPL Insurance reported Gross Written Premium of PKR 5.7 billion (~USD 20.6 million) and issued more than 277,000 policies as of December 31, 2025. The company operates a fully digital platform offering motor, health, fire, property and other general insurance products. The transaction's current scale is not expected to have a material impact on VEON's consolidated financial position, but it comes with meaningful long-term growth potential given Pakistan's underpenetrated insurance market. VEON and JazzWorld welcome TPL Insurance's talent to the Group. The acquisition expands VEON's digital financial services portfolio by adding insurance to its integrated ecosystem in Pakistan, alongside JazzCash and Mobilink Bank under JazzWorld. Together, these platforms serve more than 100 million customers, creating one of the country's largest digital channels for delivering access...