Insurer Mapfre to enter pension market in Turkey, warms up to acquisitions


Aksam - Spanish insurance company Mapfre’s Turkish operations are set to expand, as Mapfre Genel Sigorta is getting ready to enter the private pension sector of the Turkish market. Stating that their primary objective is to provide a full range of insurance services in Turkey, Mapfre Genel Sigorta Director General Serdar Gul said, “A possible acquisition in the private pension market is on our agenda. We will also assess other investment opportunities in the sector which we deem beneficial.”

Mentioning that they will be investing around EUR 30 million in Turkey over the next five years, Gul said this vision of the Spanish company shows their confidence in the country. Gul added that they established three head offices last year and will be increasing this number to 13 this year.

turkey; insurance sector; insurance business; mapfre; private pension; insurance company; acquisitions