The German insurer has acquired a majority stake in two insurance Turkish approximately 373 million euros (593 million dollars). As reported today the German company, Allianz has increased its shareholding in package Koc Allianz Sigort A from 37.1% to 84.2%, for 248 million euros (394 million dollars). In addition, Allianz increased its participation in the life insurance Koc Allianz Hayat ve Emeklilik up to 87%, compared to 38% who had hitherto, for 125.2 million euros (199 million dollars).
The consortium Koc, seller of the shares, is one of the leading business groups in Turkey in the fields of energy, automotive, consumer goods and financial.
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