12/9/2009

Turkish insurers soar on report AIG seeks partner

Bloomberg - Yapi Kredi Sigorta AS and Aksigorta AS gained on a report that American International Group Inc. wants to partner a Turkish insurer. Yapi Kredi Sigorta added Ykr 30, or 3.3 percent, to TRY 9.35 at the close of trading on the Istanbul Stock Exchange, the highest increase since October 22. Insurer Aksigorta AS, owned by Haci Omer Sabanci Holding AS, advanced Ykr 24, or 5.1 percent, to TRY 4.96. Chartis Inc., a unit of AIG, is looking at “inorganic growth” and Yapi Kredi Sigorta and Aksigorta are among its targets, said Goktug Gug, Chief Executive Officer of Chartis in Turkey, Referans newspaper reported.