General Directorate of Insurance of the Ministry of Treasury and Finance has approved the acquisition of ERGO Sigorta by HDI Sigorta.
General Directorate of Insurance of the Ministry of Treasury and Finance approved the application of HDI Sigorta for the acquisition of non-life insurer ERGO in May. With this most recent acquisition, HDI International has further reinforced its existence in Turkey, a country regarded as one of their core markets; thereby getting closer to its target of becoming one of the top 5 insurers in Turkey. Following the acquisition of ERGO, HDI Sigorta has climbed up from rank 11 to 7 among non-life insurance companies according to the December 2018 statistics.
Ceyhan Hancıoğlu, General Manager of HDI Sigorta Turkey, stated that the recent acquisition was the most significant proof of their Group’s commitment to Turkey; which helped HDI Sigorta realize one of their most important targets. “HDI Sigorta has further reinforced its existence in Turkey with ERGO Sigorta’s life insurance accumulations and its network of nearly 1.500 experienced agents. It is completely safe to say that our agents and customers are entering a new term when they will receive much better services than they already do. HDI Sigorta will maintain its strategy for Turkish Insurance Market. In other words, we will continue to be an agent-oriented company; and will never give up our target of providing the best services for its business partners and customers,” he said. Hancıoğlu added that they will be happy to see their new colleagues, agents and business partners that they will gain from the acquisition of ERGO Sigorta under the roof of HDI Sigorta family.
HDI Group had acquired Liberty Sigorta in the beginning of 2018, a transaction that was finalized only in five months.