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Arex Sigorta, one of the youngest companies in the sector, has officially acquired Generali Sigorta, Turkey's oldest insurance company.
Arex Group announced that the process of acquiring the shares of Generali Türkiye Sigorta A.Ş. has been completed, and as of December 19, the share and management transfer procedures have been finalized.
On September 17, 2024, Arex Sigorta and Arex Yatırım Holding signed a Share Transfer Agreement with Kiler Holding AŞ and Ekol Girişim Sermayesi AŞ to purchase the shares of Generali Sigorta from Generali Türkiye Holding B.V. Following the approvals from the Competition Authority and the SEDDK (Insurance and Private Pension Regulation and Supervision Authority), the share transfers were completed on December 19, 2024, and the company management was officially handed over during the General Assembly held on the same date.
Following the acquisition by Arex and Kiler Group, Generali Sigorta, Turkey's most established insurance company, has become fully locally owned.
According to information received from Arex Sigorta, the two companies will not be merged. They plan to continue operations as independent entities in terms of management and capital, each specializing in their respective areas. It has been revealed that Generali Sigorta will continue with a new title, a new brand, and a fresh vision built upon the knowledge accumulated from the past. The new brand and vision will be announced soon.
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