It was the first insurance company in Turkey! The company, which has been in operation for 150 years, has officially been sold.

The majority stake of Generali Turkey Insurance, which has been operating in Turkey for over 150 years, has been sold to Kiler Holding and Ekol Girişim. In the statement made to the Public Disclosure Platform (KAP), it was announced that Kiler Holding acquired 42% of Generali Insurance, while group company Ekol Girişim Capital Investment Partnership acquired 9%. In this way, these two groups took over 51% of Generali Insurance's total shares.

AWAITING SDDK APPROVAL

Kiler Holding had previously shared its interest in the financial sector in line with its strategic goals for 2025. The company, which announced its expectations for long-term growth in the insurance sector, made an important move in this sector by acquiring the majority shares of Generali Insurance.

The acquisition is subject to approval processes by the Insurance and Private Pension Regulation and Supervision Agency (SDDK) and the Competition Authority. The transfer of shares will be completed after the relevant approvals are obtained. It was also stated that this announcement was postponed in accordance with the Capital Markets Board's Regulation on Special Circumstances in order to prevent any negative impact on the share transfer, while symbolizing Kiler Group's entry into a new sector.

ESTABLISHED IN ISTANBUL IN 1863

Generali, founded in the city of Trieste, Italy in 1831, is known as Turkey's first insurance company. Generali took its first step in insurance activities by opening its first agency in Istanbul in 1863. In 1989, it established Generali Insurance Joint Stock Company, taking a major step towards localization.