Nishat Group of Companies and Packages Limited plans to purchase 82% stake in MetLife Alico Pakistan from American Life Insurance Company (Pakistan) Ltd. IGI Insurance Limited, owned by Packages, and Adamjee Life Assurance Co. Ltd, subsidiary of Adamjee Insurance Company Limited owned by Nishat Group, showed its interest in acquiring 82% of MetLife Alico. There are other smaller players from Karachi like TPL Direct Insurance Ltd which intends to acquire 82% stake in MetLife Alico.

Top executives of all the three bidders of the MetLife did not comment, Daily The Pak Banker, reported. A spokesperson of MetLife, said, “It is our responsibility to consider any serious offers for our assets around the world. We are in very early stages in this situation.

It is too early to talk about any decisions.”