Groupama to acquire Turkish Guven

May 17, 2008

Groupama which is one of the top Insurance companies in France is said to be toying with the idea of acquiring Turkish Guven which is a leading turkish insurance company. Groupama is expected to make an offer to acquire Guven Sigorta and Guven Hayat for $287 million, in the foreseeable future. Guven Sigorta is a non-life general insurance company while Guven Hayat is a life insurance company. Guven Sigorta has a 2.4% stake in the turkish general insurance market while Guven Hayat has a 1.2% stake in the Turkish general insurance market. Groupama which is an unlisted french insurance company is one of the big 3 insurance companies, the others being AXA and CNP.

Posted in Mergers & Acquisitions