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TPL Life Insurance has expanded its partnership with Mobilink Microfinance Bank to introduce unit-linked Takaful plans and allow existing insurance products to be converted into Shariah-compliant solutions, broadening access to Islamic insurance and financial protection.
TPL Life Insurance Limited has expanded its strategic partnership with Mobilink Microfinance Bank Limited to introduce unit-linked Takaful plans and facilitate the conversion of existing insurance products into Shariah-compliant solutions.
According to Profit Pakistan Today and Mobilink Bank, the expanded arrangement will allow Mobilink Bank customers to access investment-linked protection products designed around Shariah principles.
TPL Life said the initiative is aimed at broadening the financial protection options available to customers while supporting greater financial inclusion through insurance and Takaful products.
The company said the partnership would introduce “unit-linked Takaful plans” and enable customers to convert existing insurance products into “Shariah-compliant solutions,” giving customers additional options for combining protection with investment.
Mobilink Bank already distributes a range of TPL Life insurance products, including health and family protection plans. Its official product platform lists offerings such as Sehat Yaqeen, Bodyguard, Critical Illness, Ortho Plan, Cardiac Plan and Cancer Plan.
TPL Life’s partnership network also includes several major financial institutions, reflecting the company’s focus on using banking and digital channels to expand insurance access. The insurer describes its partnerships as collaborations with “trusted allies” aimed at supporting its broader vision of innovation and accessible protection.
The latest development comes as Pakistan’s financial sector continues to expand digital and Shariah-compliant financial products, particularly for customers who remain underserved by conventional insurance and banking services.
The partnership also has significance in light of the wider changes taking place within TPL’s insurance business. In July, Jazz International Holding Limited completed the acquisition of a controlling stake in TPL Insurance, bringing the company into the Jazz and VEON ecosystem.
Jazz International acquired 76.33% of TPL Insurance’s issued share capital after completing the transaction and mandatory tender offer. Jazz said the acquisition is intended to expand access to digital insurance and integrate insurance into its broader digital financial-services ecosystem.
Jazz CEO Aamir Ibrahim previously said the acquisition would help build “a comprehensive digital services ecosystem that expands financial inclusion in Pakistan,” while noting that insurance could be integrated with services including JazzCash and Mobilink Bank.
He also highlighted the country’s insurance gap, saying, “Pakistan remains significantly underinsured,” and that digital platforms could help close that protection gap through accessible and affordable products.
The expanded TPL Life-Mobilink Bank partnership therefore comes at a time when insurance, digital banking and Islamic finance are increasingly converging. By combining Takaful products with established banking distribution channels, the initiative could help make Shariah-compliant financial protection more accessible to a wider customer base.
TPL Life said it would continue to keep shareholders informed about material developments in accordance with applicable regulatory requirements. The company remains focused on expanding its insurance offerings while responding to growing demand for digital, accessible and Shariah-compliant financial solutions.
