EMF Capital Partners will purchase Turkish insurance company Aviva Sigorta A.S.
EMF Capital Partners announced the purchase of Turkish insurance company Aviva Sigorta belonged to the leading British insurance group Aviva. The purchase will be executed by EMF investors. The deal is expected to be completed in the first half of 2014.
Established in 1988, Aviva Sigorta A.S. offers a combination of personal and commercial insurance products. The company has approximately 200 staff spread across five regional offices and benefits from an extensive distribution network.
The company wrote over TL 270 million of gross written premium in 2013.
Aviva Sigorta A.S. is listed on the Borsa Istanbul.
Peter Lovas, CEO of EMF Capital Partners, comments: “We are excited to announce the acquisition of Aviva Sigorta A.S. which is a key milestone in the development of EMF’s strategy in Turkey. We look forward to working with the management and employees of Aviva Sigorta A.S. to continue building a strong non-life insurer in Turkey.”