"We are looking for a life insurer in Turkey, a market with an important growth potential, considering the population of 75 million people", stated Daniyl KHACHATUROV, the businessman that controls ROSGOSTRAKH.
He considers that acquiring a local company is more appropriate that founding a new insurer, as license procedure can take approximately 2 years.
According to his statement, they price is the most important key in negotiations and a possible transaction could be concluded in late autumn.
ROSSGOSTRAKH-Group is market leader on the local market, with total premiums written in 2009 of around EUR 2,2 billion, an increase by 109% comparing to 2008. Also, company reported for the previous year a profit of EUR 6,4 million.
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Source : 1asig.ro
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