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03 Sep 2019, Gergana Bencheva, EMIS Editor

Turkey’s HDI Sigorta completes purchase of Ergo

Turkish insurer HDI Sigorta, a member of German insurance giant Talanx Group, has completed its acquisition of non-life insurance company Ergo, bne Intellinews reported. 

The move will help HDI International get closer to its ambition to become one of the top five insurance companies in Turkey. According to data from the Insurance Association of Turkey, at the end of July, HDI Sigorta was the eighth largest player in the non-life segment by premium generation.

This is not HDI’s first acquisition for 2019. At the beginning of this year, it bought local insurance company Liberty Sigorta, bne Intellinews noted.

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Original source: bne Intellinews