7/11/2008

Aegon finalizes acquisition of Turkish insurance firm

Hurriyet English - "We presented our new group strategy in June and we said we wanted to build scale in emerging markets like Central and Eastern Europe - markets offering a sustainable, profitable growth in the years ahead. The acquisition of Ankara Emeklilik is very much part of this strategy," Gabor Kepecs, the member of Aegon's Management Board said in a company statement. Aegon has appointed Ugur Tozsekerli, former Assistant General Manager of Yapi Kredi Emeklilik as CEO designates of Ankara Emeklilik upon completion of the acquisition. Earlier in February Aegon had agreed to buy Ankara Emeklilik. The acquisition marks the company's first step in the Turkish life insurance market also complements the recent expansion of the Group's business in Central and Eastern Europe.