Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Mar 2024

Turkey: Car leasing firm acquires Allianz's insurance unit

Source: Middle East Insurance Review | Jul 2018

Turkish car leasing company Borlease Otomotiv has purchased Magdeburger Sigorta from German insurance group Allianz.
 
Borlease, which started to engage in the insurance sector when it earlier acquired the loss adjustment firm Alesta Insurance and the insurance agency Ayka Insurance, is expected to accelerate its growth in the insurance market with this latest purchase, according to local media reports.
 
Magdeburger Insurance was 80% owned by Allianz Insurance and 20% by Allianz Life and Pension Company.
 
Borlease Group chairman Ozgur Cem Hancan said, “The sectors we are operating in consist of the most important components of the insurance sector. For this reason, our experience in this field and our success have brought us to the point of making a bigger investment in the field of insurance.”
 
The Borlease group aims to be among the important players in the insurance and fleet leasing sectors. It currently has a fleet of around 6,000 vehicles. M 
 
| Print
CAPTCHA image
Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.