9/30/2010

Vienna Insurance buys more of Turkey's Ray Sigorta

Reuters - Vienna Insurance Group, emerging as Europe's biggest insurer, has agreed to acquire a stake of around 10 percent in the Turkish non-life insurer Ray Sigorta from the Dogan Group, said the company in a press release. A subsidiary of the Austrian insurer, the majority-owned TBIH Financial Services Group N.V. already holds an 84.3 percent stake in Ray Sigorta. "The expected positive economic development in Turkey points to strong growth in the area of insurance in this future market," said Chief Executive Gunter Geyer in a statement.
turkey; financial services; insurance sector; vienna insurance; ray sigorta; tbih financial services; gunter geyer

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