The Securities and Exchange Commission of Pakistan (SECP) has officially revoked the registration of M/s New Hampshire Insurance Company—Pakistan Branch as an insurer, in accordance with sub-section (2) of Section 9 of the Insurance Ordinance 2000.
This move, following the approval of the Scheme of Arrangement by the Honorable High Court of Sindh on September 13, 2023, marks a significant transformation in the insurance sector. The entire business of M/s New Hampshire Insurance Company in Pakistan has been transferred to TPL Insurance Limited under this scheme.
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Consequently, M/s New Hampshire Insurance Company, Pakistan Branch, is no longer authorized to conduct insurance business in the country.
TPL Insurance Limited now assumes all associated business activities and liabilities, and policyholders are urged to contact TPL Insurance Limited for any claims or liabilities related to their insurance policies with M/s New Hampshire Insurance Company – Pakistan Branch. The SECP has issued a notification in accordance with sub-section (1) of Section 10 of the Insurance Ordinance 2000 to formalize this regulatory decision.