Ceyhan Hancıoğlu, General Manager of HDI Sigorta, gave a statement about the current topics on Turkey’s agenda such as investments and foreign exchange rates. He reminded that Talanx Group bought HDI Sigorta in 2006 and had been operating successfully in Turkish insurance market ever since. “Our group is focusing on Turkey as one of our priority markets,” he said.

Hancıoğlu added as follows: “As in all of our target markets, our strategic target in Turkey is to become one of the 5 leading companies in the market. In accordance with this target, Talanx aims to continue growing in Turkey both organically and inorganically. In parallel with this vision, our Group acquired 99.4 percent of the shares of Liberty Sigorta in January, before the latest developments in the foreign exchange rates. Although these developments bring both technical and financial challenges, Talanx Group will continue to selectively increase its market share in Turkey as one of its target markets, and keep monitoring any potential opportunities of acquisitions and mergers.”

As the owner of HDI Sigorta in Turkey, German insurance giant Talanx also acquired 99.4 percent of the shares of Liberty Sigorta, a subsidy of US-based Liberty Mutual Group. HDI Sigorta has been operating in Turkish non-life insurance market since 2006. The company offers insurance services with 305 employees, 9 regional offices, more than 1350 insurance agencies and through 1200 bank branches.