A Turkish operational leasing firm acquired MAGDEBURGER Sigorta

Turkish operational leasing company BORLEASE Otomotiv acquired MAGDEBURGER Sigorta, a non-life small insurer owned by two local units of German group ALLIANZ: the non-life unit ALLIANZ Sigorta (80%) and the life and pension company ALLIANZ Yasam ve Emeklilik (20%).

Local media wrote that BORLEASE - which currently has a fleet of around 6,000 vehicles, intend to develop its activity in the insurance sector. Thus, previously, BORLEASE purchased the loss adjuster ALESTA Sigorta and the insurance agency AYKA Sigorta.

"The sectors we are operating in consist of the most important components of the insurance sector. For this reason, our experience in this field and our success have brought us to the point of making a bigger investment in the field of insurance", said Ozgur Cem HANCE, Chairman, BORLEASE Group.

Aylin Somersan COQUI, CEO, ALLIANZ Turkey declared that this sale is a part of the strategic objectives of ALLIANZ Sigorta, wrote Daily Sabah. "I wish the new shareholders of MAGDEBURGER Sigorta will extend the service network of the company to provide insurance for wider masses and contribute to the development of the sector", she added.

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