Update: Kiler Holding Acquires 90.5% of Generali Insurance

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Update: Kiler Holding Acquires 90.5% of Generali Insurance

Kiler Holding (IS:KLRHO) has acquired the operations of Generali Sigorta, Turkey’s first insurance company, in the country. Nahit Kiler stated that following the brand restructuring, they aim to bring a new breath to the sector, saying, “With our capital strength, we will enhance the existing values of Generali Sigorta and write a success story in the insurance sector.”

Kiler Holding and its group company Ekol Venture Capital Investment Partnership have initiated a new era in the insurance sector by taking over Generali Sigorta's operations in Turkey. The share transfer process was officially completed after obtaining the necessary approvals from the Insurance and Private Pension Regulation and Supervision Authority (SEDDK) and the Competition Authority (RK).

Currently active in the real estate, energy, industry, and services sectors, Kiler Holding has expressed its ambitions in the insurance field by acquiring 90.5% of Generali Sigorta. This move marks the first step in creating a supportive financial ecosystem that includes digital banking, portfolio management, and financial leasing, aligning with Kiler Holding's strategic goals.

Kiler Holding's Chairman, Nahit Kiler, commented on the transfer process, stating: “We are delighted to take over Generali Sigorta, which has been operating in Turkey for 150 years. This step is a significant part of our growth objectives in the finance sector. With our commercial experience and broad customer base across Turkey, we believe we will make rapid progress in the insurance sector. Our goal following the brand restructuring process is to offer more reliable, innovative, and sustainable solutions to our growing customer base every day. We want to bring a new perspective to the sector as a company that acts as a solution partner for insurance needs, not just selling insurance products. We will strengthen the existing values of Generali Sigorta with our capital strength and write a success story in the insurance sector in Turkey.”