TPL Insurance Limited (KASE:TPLI) agreed to acquire Assets and Liabilities of New Hampshire Insurance Company's Pakistani Branch on May 31, 2023. Board of Directors of TPL Insurance has approved a draft Scheme of Arrangement under Section 279 to Section 282 and Section 285 of the Companies Act, 2017. The successful completion of the transaction is subject to obtaining all necessary regulatory approvals, including the Securities and Exchange Commission of Pakistan's (SECP) endorsement.

Upon approval by the High Court of Pakistan, the Scheme of Arrangement will facilitate the seamless transfer of NHIC?s assets and liabilities to TPL Insurance. As of September 7, 2023, the Competition Commission of Pakistan has approved the merger. The completion of the acquisition is anticipated to take place by December 31, 2023.