TPL Trakker Ltd. plans to acquire Asia Care Insurance

TPL Trakker Ltd, a sister corporation of TPL Direct Insurance has deliberated to acquire Asia Care Life and Insurance company which is an associate company of different micro-finance banks to intensify its insurance business at micro level.

TPL Direct Insurance offers Home, Travel, Auto and Health insurance. The management has now decided to engage into micro-finance which is growing at a rapid pace in Pakistan. According to an official notification relayed to stock, TPL Trakker has started a process to assess and evaluate the feasibility of potentially acquiring upto 100% paid up capital of Asia Care and Life Insurance Company.

Keeping this in perspective, the company is currently recruiting advisory and consultancy firms for the legal settlements and the financial transaction will only take place after an approval from the board of directors and regulatory authorities. As of now, health woes and medical expenditures have become an important concern for those who cannot afford quality medical treatment. Asia Care offers a comprehensive solution to such issues and has introduced health plans via the platforms of micro-finance bodies including the First Micro-Finance Bank, Khushhali Bank and Tameer Micro-Finance Bank. All of which offer affordable health plans to the masses.

Asiacare has also launched multiple products for the retail market including Prepaid Health Insurance Card which offers various benefits including out-patient, cashless claim, emergency care and etc at a reasonable premium amount.

Khurram Zahid