June 14, 2022 (MLN): TPL Insurance Limited (TPLI) has decided to make an equity investment of Rs200 million in the associated company TPL Life Insurance Limited, a notice issued to the bourse showed today.
In this regard, the extraordinary general meeting of the company will be held on July 6, 2022, wherein the shareholders approved the aforesaid resolution.
As per the notice, the company is desirous of making an investment in TPL Life Insurance Limited. The equity investment of Rs200 million has been approved/recommended by the Board of Directors of the Company on June 14, 2022.
The investment in TPL Life Insurance Limited would enable TPLI to expand its footprints in the life insurance market. The Company would be able to use TPL Life’s expertise and relationships to grow its non-life business.
TPL Life Insurance Limited is a subsidiary of TPL Corp Limited, the parent company of TPL Insurance Limited. Mr Muhammad Aminuddin, the CEO of TPL Insurance Limited, is a member of the Board of Directors of TPL Life Insurance Limited.
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