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Equity growth of Maher Holding Insurance Group reported as 160% for 2019

Levent Uluçeçen, CEO to grow. “Total equity of Maher Yatırım Holding’s Insurance
of Maher Holding, stat- Group reached 246.2 million TL as of 31.12.2019. Quick
ed that Quick Sigorta Sigorta, first insurance investment of our Group, increased
and Corpus Sigorta, its equity worth up to 209.9 million TL, while Corpus Sigor-
subsidiaries of Maher ta’s equity reached 36.2 million TL.
Holding, grew substan-
tially in terms of equi- Saying that equity growth is one of the most important indi-
ty value. “According to cators of healthy growth and structure for companies, Levent
the financial results for Uluçeçen added: “According to 2018 financial results Quick
2018, Quick Sigorta had Sigorta had an equity worth of 81.8 million TL, and Corpus
an equity worth of 81.8 Sigorta of 12.9 million TL, bringing the overall equity of the
million TL, and Corpus Group to 94.7 million TL. Compared to those results, Quick
Sigorta of 12.9 million TL, bringing the overall equity of the Sigorta increased its equity by 157%, and Corpus Sigorta
Group to 94.7 million TL. Compared to those results, Quick by 181%. Therefore, overall equity of our insurance group
Sigorta increased its equity by 157%, and Corpus Sigorta reached 246.2 million TL in 2019, growing by 160%.”
by 181%. Therefore, overall equity of our insurance group
reached 246.2 million TL in 2019, growing by 160%,” he Underlining that their Group achieved a high equity growth
said. with 160%, Levent Uluçeçen said: “Despite all the chal-
lenging circumstances, we will keep working during 2020
Levent Uluçeçen, CEO of Maher Holding, said both insurance towards increasing our equity to even higher rates than in
companies performed very well in 2019 in term of structuring 2019. I would like to thank all my colleagues who had a role
and growth. He said Quick Sigorta managed to own leader- in this achievement. Maher Holding’s target for 2020 is to
ship positions in some insurance lines and types; while Corpus raise the equity of Quick Sigorta from 246.2 million TL to
Sigorta quickly finalized its restructuring and already began 750 million TL.”

Big step from Turkey Wealth Fund

“Within the scope of the project that includes the consolida- about these transactions
tion of insurance companies owned by government Lenders can be found at Public
under a single roof, shares of Güneş Sigorta AŞ, Halk Sigorta Disclosure Platform an-
AŞ, Ziraat Sigorta AŞ, Vakıf Emeklilik ve Hayat AŞ, Halk nouncements made by
Hayat ve Emeklilik AŞ, and Ziraat Hayat ve Emeklilik AŞ T.C. Ziraat Bankası AŞ,
that were previously owned by government Lenders and other Türkiye Halk Bankası
related parties were acquired by Turkey Wealth Fund Finan- AŞ, Türkiye Vakıflar
cial Investment Company. Bankası TAO, and above-
mentioned insurance and
Press release by Turkey Wealth Fund said: pension companies.

“With our press release on 13 December 2019, Turkey This step marks the completion of the initial phase of our pro-
Wealth Fund had announced the project to consolidate the ject to consolidate the insurance companies owned by govern-
insurance companies owned by government Lenders under a ment Lenders under a single roof, as we have taken over the
single roof as a part of the reforms planned for the insurance shares of those companies owned by the government lenders
and pension market in order to develop the savings base of and other related parties in exchange for an investment of
Turkish economy and non-bank financial industry, and within 6.54 billion TL.
the scope of the New Economy Program by the Ministry of
Treasury and Finance. This project, which originally aimed to bring a more dynamic
and robust structure to insurance market, is also regarded as
As our subsidiary, TWF Financial Investment Company has a strong move for our missions to finance Turkey’s strategic
so far acquired the shares of Güneş Sigorta AŞ, Halk Sig- investments and support improvement and deepening of fi-
orta AŞ, Ziraat Sigorta AŞ, Vakıf Emeklilik ve Hayat AŞ, nancial markets.
Halk Hayat ve Emeklilik AŞ, and Ziraat Hayat ve Emeklilik
AŞ that were previously owned by government Lenders and We will keep informing the public on developments about this
other related parties within the scope of this project. Details project.”