Magazine date:
Jun 2016 The Gulf Insurance Group has purchased 90% stake in capital of the Turkish non life insurer Turins Sigorta.
The agreement approved by the Turkish regulatory authorities has been concluded for an amount of 2.9 million KWD (9.6 million USD).
Created in 2013, Turins Sigorta operates in classes of business such as personal accident, property damage, marine, motor, ...
This acquisition is part of the strategy of the Kuwaiti group to expand internationally. Gulf Insurance Group operates in several countries of the Middle East and North Africa, including Egypt, Jordan and Algeria. The company achieved, in 2015, a turnover of 613 million USD.