AXA to acquire Groupama's activities in Turkey

The AXA Group is acquiring Groupama's life and non-life insurance activities in Turkey. It will purchase 100% of the shares of Groupama Sigorta and Groupama Hayat, held by Groupama Investment Bosphorus Holding.

The transaction, still pending the approval of the relevant authorities, would allow the French insurer to strengthen its position in the country, increase its market share and expand its distribution network.