TPLI acquires Pakistani branch of NHIC
MG News | September 22, 2023 at 11:54 AM GMT+05:00
September 22, 2023 (MLN): The acquisition of the net assets of the Pakistani Branch of New Hampshire Insurance Company (NHIC) by TPL Insurance Limited (PSX: TPLI) has been sanctioned by the Honorable High Court of Sindh vide an Order dated September 13, 2023, TPLI’s filing on the local bourse revealed today.
By virtue of the sanctioning of the Scheme of Arrangement, the net assets of NHIC's Pakistan Undertaking (comprising those of the Pakistan Branch) have now been amalgamated with, transferred to, and vested in TPLI.
The company has issued this notice in continuation of the disclosure made on May 26, 2023.
TPLI is owned 73.38% by TPL Corp Limited (PSX: TPL).
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