2/18/2011

Ageas acquires 31 percent of Turkish insurer Aksigorta

Dünya - Belgian insurance company Ageas has announced the acquisition of a 31 percent share in Aksigorta, one of Turkey’s leading insurers. Ageas will take over half the shares of Sabanci Holding’s 62 percent, meaning that Ageas and Sabanci will have equal control in Aksigorta’s management. The remaining shares are publicly traded in the Istanbul Stock Exchange (ISE).

“Turkey is a fast developing country with its attractive growth potential in terms of non-life insurance and low insurance penetration levels,” said Ageas Chief Executive Bart De Smet in a statement on the acquisition deal.
turkey; financial services; insurance market; ageas; aksigorta; turkish insurance sector

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