TPL Life Insurance soon to be listed on PSX
TPL Life insurance Limited (formerly AsiaCare Health & Life Insurance Company Limited) has proposed an initial public offering (IPO) of shares and listing of the company on the Pakistan Stock Exchange (PSX).This was informed in a notice sent to the PSX. The IPO and the listing is subject to be in compliance with applicable laws and requisite approvals of the PSX and the Securities and Exchange Commission of Pakistan (SECP).
TPL Life Insurance is a subsidiary of TPL Trakker Limited. TPL Trakker recently signed a Share Purchase Agreement with AsiaCare Health and Life Insurance Company. The agreement allowed TPL to acquire 100% ownership of AsiaCare Health & Life Insurance Company to bring Life Insurance under its name. On July 16, 2016 AsiaCare Health and Life Insurance Company was reintroduced as TPL Life Insurance Limited.
With low insurance penetration in the country, TPL Life aims to develop and provide innovative life and health and insurance products based on global standards.