National Insurance Corporation Limited Chairman (NICL) Ayaz Niazi, who was accused of corruption in Lahore and Karachi, surrendered before the Sindh police on Tuesday.
Niazi was wanted by the Federal Investigation Agency (FIA) in five cases of corruption and land scams involving Rs5 billion.
His name was placed in the Exit Control List (ECL) on Monday, while his bank accounts were also frozen.
Niazi was among four directors of NICL who were wanted by police for their alleged involvement in land scams in Lahore and Karachi.
Earlier, Niazi's lawyer had said he was ready for a conditional arrest such that if his family was not bothered with repeated raids, he would appear to face an inquiry.
The FIA had on November 10, declared the NICL chairman, along with members of the board of directors of NICL Qasim Dada and Mohsin Waraich absconders in the scam.