Aegon has finalized the acquisition of Turkish life insurance and pension provider Ankara Emeklilik.

Aegon said that this acquisition is part of a broader objective to expand Aegon’s presence in Central and Eastern Europe. In addition, the acquisition will give Aegon a strong platform for further growth in Turkey.

With the acquisition finalized, Aegon has appointed Ugur Tozsekerli, former assistant general manager of Yapi Kredi Emeklilik as CEO designate of Ankara Emeklilik.

Gabor Kepecs, the member of management board responsible at Aegon for Central and Eastern Europe, said: In June, when we presented our new Group strategy, we said we wanted to build scale in emerging markets like Central & Eastern Europe – markets that offer sustainable, profitable growth in the years ahead. The acquisition of Ankara Emeklilik is very much part of this strategy.