Privatisation of Garanti Sigorta

Several foreign large insurers along with local operators are after the company Garanti Sigorta whose capital is to be privatised during the current year.

In the meantime, the French Groupama absorbed Basak Insurance and Basak retirement; the German HDI International bought out shares in Ihlas Insurance; Ergo took over Isvirce Insurance and so did the American Liberty Mutual with Secker Insurance, and GEM Global Equittos with Emek Life.
Foreign insurance and reinsurance companies are controlling 60% of the Turkish market.