Vienna Insurance Group in Turkey: Acquisition of a 10 percent stake in Ray Sigorta is completed
Vienna Insurance Group entered the Turkish insurance market via TBIH in 2007. Ray Sigorta is a listed Turkish insurance company based in Istanbul with around 260 employees. The company, which was founded in 1958, provides non-life insurance services with a focus on motor insurance. In 2010, Ray Sigorta generated a total premium volume of about EUR 122 million, according to preliminary results. Ray Sigorta benefits from a well-established distribution network with eight regional offices and a network of around 800 brokers and agents.
Turkey is one of the emerging insurance markets. The potential of the market is highlighted by its insurance penetration (insurance premiums as a percentage of Gross Domestic Product) of just 1.3 percent, compared to an average insurance penetration of 8.7 percent in the EU15 markets in Western Europe.
Přiložený dokument ke stažení
RM-SYSTÉM, česká burza cenných papírů a.s.
- Vienna Insurance Group - reports top results after first three quarters of 2021 (18.11.2021 12:24)
- Vienna Insurance Group - results for the first half-year 2021. (24.08.2021 15:00)
- Vienna Insurance Group - the results for the first half-year 2021 (20.08.2021 10:24)
- Vienna Insurance Group - 3M 2021 Results (25.05.2021 14:55)
- Vienna Insurance Group - Annual General Meeting 2021 (05.05.2021 16:06)