Holding Company in BIST Enters Insurance Sector with Latest Investment
Kiler Holding (KLRHO), through its group company Ekol Girişim Sermayesi Yatırım Ortaklığı, has acquired the operations of Generali Insurance in Turkey, marking its entry into the insurance sector. The share transfer was officially completed following the closing transactions after obtaining the necessary approvals from the Insurance and Private Pension Regulation and Supervision Agency (SEDDK) and the Competition Authority (RK).
Kiler Holding, which is actively engaged in real estate, energy, industry, and services, has demonstrated its ambition in the sector by purchasing 90.5% of Generali Insurance, Turkey's first insurance company. With this strategic move, Kiler Holding has also initiated the first phase of its process to create a financial ecosystem that includes digital banking, portfolio management, and financial leasing.
Kiler Holding's Chairman Nahit Kiler expressed great satisfaction regarding the acquisition, highlighting that this step is a significant part of their growth objectives in the financial sector. Kiler expressed confidence that they will make rapid progress in the insurance sector, thanks to their commercial accumulations and extensive customer base across Turkey.
Additionally, Kiler stated that following the brand restructuring process, their goal is to provide more reliable, innovative, and sustainable solutions to a continually growing customer base. The company aims to go beyond just selling insurance products and position itself as a solution partner for customers' insurance needs, asserting that they will strengthen the existing values of Generali Insurance with their capital resources and aspire to write a new success story in Turkey's insurance sector.
As for the current status of KLRHO shares, they are trading at around 34.8 TL, reflecting a decrease of over 2.5% today. After a rise of about 15% this week, the share price has pulled back its gains to around 6.5%. KLRHO continued to rise by 17.5% in December, achieving an 88% value increase throughout the year; however, due to the volatility experienced over the year, it has returned to the price levels at the beginning of the year.