Garanti Sigorta has been operating under the new name of Eureko Sigorta since October 2007 as a result of the new partnership between Eureko B.V. and Garanti Bank. Part of that agreement included a put option for Garanti Bank on the remaining 20 percent of the shares of Eureko Sigorta. Garanti Bank chose to exercise its right to sell the shares.

“With the recent agreement, our collaboration with Eureko will continue at the same pace. We will maintain and further secure our leadership in bank insurance,” said Gökhan Erün, vice president of Garanti Bank.

Finalization of the transaction is subject to approval by the regulatory authorities.