Allianz has confirmed negotiations with its long-term business partner Koc Holding, on the acquisition of 47.1% of the shares in Koc Allianz Sigorta and 49% of the shares of Koc Allianz Hayat ve Emeklilik, which are currently owned by the Koc Group.
Allianz has a long and successful partnership with Koc Holding, owning already 37.1% of Koc Allianz Sigorta and 38% of Koc Allianz Hayat ve Emeklilik. Furthermore, Rahmi Koc, honorary chairman of the board of directors of Koc Holding, is a member of the international advisory board of Allianz.
Koc Allianz Sigorta is one of the leading companies in the Turkish non-life insurance sector with 9.2% market share and Koc Allianz Hayat ve Emeklilik has 4.8% market share in life insurance sector, as of September 2007.