ABS & Co acted as the transaction advisors on Waada Holdings (Pvt) Limited’s acquisition of MicroEnsure Pakistan (Pvt) Limited. This represents the second M&A transaction to have been concluded by ABS & Co’s lawyers in a space of a few weeks.
With the acquisition, Waada is on a mission to become the leading brand of insurance in Pakistan, distributing 10 million policies in the next three to five years. Ishaq Kothawala, CEO & founder of Waada, said, “Pakistan Insurance penetration is 0.7%, the lowest in the region. Technology can play a huge role to tap that gap, specifically through creating the gig economy for agents and underwriters. This acquisition gives us the strength to lead that innovation from the front.”
The lawyers in Pakistan working on this matter included Samar Masood, Natalia Najam and Manahil Gilani who are leading the firm’s expansion into venture capital and the start-up industry.