Vienna Insurance Group (VIG) is expanding its presence in the Turkish market, by acquiring a health insurer, Demir Saglik ve Hayat Sigorta (Demir).
In a statement, VIG said, “This strategic acquisition broadens the product range in the profitable and rapidly growing health insurance segment, thereby contributing to the diversification of portfolios in Turkiye.”
With the acquisition of Demir, VIG is also establishing a presence in health tourism.
Demir has operated in the Turkish market as a health insurance specialist in health insurance for over 30 years and works with over 1,800 contracted healthcare facilities nationwide. Its product portfolio includes private health insurance and supplementary health insurance, as well as group health insurance for companies and their employees. Furthermore, Demir is a leading provider of travel insurance and health insurance for foreign nationals.
The acquisition, which is subject to official and regulatory approvals, comes at a time when access to healthcare plays a particularly important role in Turkiye. This is also underscored by the findings of the latest VIG Risk Literacy Study. One of the study’s key areas of focus is health-?related risks.
In Turkiye, six out of 10 respondents consider their personal risk of not receiving a necessary medical examination or treatment to be high. At the same time, almost half underestimate how frequently people do not receive necessary medical care due to costs, waiting times or distance. These findings highlight the importance of reliable access to healthcare services.
VIG has been operating in Turkiye since 2007 and, in 2025, generated a premium volume of around EUR1.2bn ($1.3bn) through the non-life insurer Ray Sigorta and the life insurer Viennalife.