Acquisition and Merger of Public Insurance and Pension Companies Successfully Completed

Türkiye Wealth Fund (TWF) has successfully finalized the repayment of the TRY 6.9 billion financing used for the acquisition of public insurance and pension companies—marking the final stage of a comprehensive transformation process initiated by merging these companies under the Türkiye Sigorta and Türkiye Hayat Emeklilik brands. With this milestone, all phases of the strategic merger have now been completed.

A Strategic Acquisition and Restructuring Journey

In line with its mission to support the development and deepening of financial markets, TWF acquired shares in Güneş Sigorta, Halk Sigorta, Ziraat Sigorta, Vakıf Emeklilik ve Hayat, Halk Hayat ve Emeklilik, and Ziraat Hayat ve Emeklilik from three state-owned banks in 2020 through paid transactions. These companies were then consolidated under the Türkiye Sigorta and Türkiye Hayat Emeklilik brands, creating a strong and integrated structure in the sector.

The initial financing of TRY 6.4 billion was provided through Special Tranche Government Domestic Borrowing Securities (GDDS) and was later refinanced in 2022 with TRY 6.9 billion worth of Private Sector Bonds (PSBs) issued by TWF.

As of June 10, 2025, the repayment of these PSBs has been fully completed, successfully concluding the financing process behind the unification of public insurance and pension companies under one roof.

Value Creation by TWF: Türkiye Sigorta

The transformation process initiated by TWF in 2020 stands as a clear example of value creation—not just through restructuring, but also through strategic efforts to develop the non-banking financial sector in Türkiye.

Thanks to its strong performance throughout this transformation, Türkiye Sigorta has become the most valuable and most profitable publicly traded insurance company in the sector. With a 15.5% market share in premium production, Türkiye Sigorta continues to lead the industry. Currently, 19% of its shares are publicly traded on Borsa Istanbul, and the company’s market capitalization stands at approximately USD 2.1 billion.

TWF’s initial investment of around USD 285 million for an 81% stake in the company has now reached a value of USD 1.7 billion, clearly demonstrating the economic value generated by this strategic decision.

TWF’s Contribution to the Sector

At TWF, we take great pride in having successfully completed this transformation process—founded on principles of effective governance, sustainable growth, and financial responsibility—through the consolidation of public insurance and pension companies.

We firmly believe that this process, which has delivered lasting value to Türkiye’s insurance sector, will continue to bear fruit through the ongoing success of Türkiye Sigorta and Türkiye Hayat Emeklilik in the years ahead.