Turkey’s Halk Sigorta to be privatized

Business Materials 23 July 2014 20:48 (UTC +04:00)

Baku, Azerbaijan, July 23
By Rufiz Hafizoglu - Trend:

Part of the shares of Turkey's Halk Bankası state insurance company will be put up for privatization, the country's Hurriyet newspaper reported on July 23.

The shares of the Halk Sigorta will be fully or partially put up for sale in coming months, according to the newspaper.

Halk Sigorta was founded in 1958.

Around 70 insurance companies currently operate in Turkey, and four of them are specialized in life insurance.

To date, around eight insurance companies are in the process of registration, according to Turkey's Insurers Association.

The official exchange rate on July 23 is 2.1179 TRY/USD.