International,
18
January
2019
|
09:47
Europe/Amsterdam

Bupa completes acquisition of Acıbadem Sigorta, Turkey’s second largest health insurer

Summary

Bupa, the international healthcare company, today announces it has completed the acquisition of Acıbadem Sigorta, Turkey’s second largest health insurer.

Acıbadem Sigorta is a specialist health insurance provider with both corporate and individual customers. Headquartered in Istanbul, it has over 500 employees and covers 600,000 lives. In 2017 Acıbadem Sigorta generated gross written premiums of TRY913m.

Simeon Preston, CEO of Bupa International Markets, said: "We are delighted to announce that Bupa’s acquisition of Acıbadem Sigorta is now complete. Bupa will benefit from Acıbadem Sigorta’s local market knowledge, and their customers and employees will benefit from the strength of our expertise and experience. We look forward to welcoming Acıbadem Sigorta into the Bupa family.”

Gökhan Gürcan CEO of Acıbadem Sigorta added: “We’re delighted to join Bupa. Together we will build on Acibadem Sigorta’s successes from the last 26 years and support the continued development of the Turkish health insurance market.”

Notes to editors

For more information please contact:

Fran Chambers, Customer and Corporate Affairs Director, Bupa International Markets
E: fran.chambers@bupa.com / T: 07815 851690

Acıbadem Sigorta

Headquartered in Istanbul, Acıbadem Sigorta is a specialist provider of health insurance services for the corporate and individual segments. From 2013 to 2017, Acıbadem Sigorta increased its GWP market share from 12% to 18% and became the number one Turkish health insurer in corporate business and number two overall. Acıbadem Sigorta is managed by an experienced executive team – each member of the senior management team has over 20 years of experience in the industry.

Acıbadem Sigorta is the largest health insurer in the Turkish Corporate PMI segment with a 27% share of GWP. In the individual PMI segment it is the third-placed player with a 9% market share.

Boilerplate

About Bupa

Bupa's purpose is helping people live longer, healthier, happier lives.

With no shareholders, our customers are our focus. We reinvest profits into providing more and better healthcare for the benefit of current and future customers.

We serve 15.5m health insurance customers, provide healthcare to over 14.5m people in our clinics and hospitals and look after over 22,000 aged care residents.

We directly employ over 78,000 people, principally in the UK, Australia, Spain, Poland, Chile, New Zealand, Hong Kong, the USA, Brazil, the Middle East and Ireland. We also have associate businesses in Saudi Arabia and India.

Health insurance accounts for the majority our business. In some markets we also operate clinics, dental centres, hospitals, and care homes and villages.

For more information, visit www.bupa.com.