The Finnish Fund for Industrial Cooperation Limited (Finnfund) has acquired a 17.59 percent stake in TPL Insurance, a subsidiary of TPL Corporation.
According to the stock filing, TPL Insurance Limited, a subsidiary of TPL Corp Limited, has completed the transaction for the acquisition of a 17.59 percent shareholding by Finnfund, a Private Limited Company incorporated in Finland, a major development financier and impact investor, investing in responsible and profitable businesses in developing countries.
This is the second such investment by an impact investor following Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG)’s acquisition of an equity stake of 20 percent in TPL Insurance Limited.
The filing stated that TPL Insurance Limited’s technologically-driven business model, supplemented by Finnfind’s global experience and knowledge, shall result in enhancing its CSR footprint by introducing new product lines.