Karachi July 16 2022: TPL Insurance Limited, a subsidiary of TPL Corp Limited, has successfully completed transaction for acquisition of 17.59% shareholding by Finnish Fund for Industrial Cooperation Limited, a Private Limited Company incorporated in Finland, (“Finnfund”), a major development financier and impact investor, investing in responsible and profitable businesses in the developing countries.
This is second such investment by an impact investor following DEG acquisition of equity stake of 20% in TPL Insurance Limited. TPL Insurance Limited’s technologically-driven business model supplemented by Finnfind’s global experience and knowledge, shall result in the enhancing its CSR footprint by introducing new product lines.
TPL Insurance:
TPL Insurance Limited was incorporated in Pakistan in 1992 as a public limited company under the Companies Ordinance, 1984 (now Companies Act, 2017) to carry on general insurance business. The Company was allowed to work as Window Takaful Operator on 04 September 2014 by Securities and Exchange Commission of Pakistan (SECP) under SECP Takaful Rules, 2012 to carry on General Window Takaful Operations in Pakistan. The Company is owned 73.38% by TPL Corp Limited.
TPL Corporation Limited:
TPL Trakker Limited (the Company) was incorporated in Pakistan on December 04, 2008 as a private limited company under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). The name of the Company has been changed to TPL Corp Limited. The principal activity of the Company is to make investment in group and other companies.
