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Allianz and Yap Kredi have reached an agreement that provides, among other things, that Allianz will acquire Yap Kredi Sigorta, the property and casualty insurer, including its subsidiary Yap Kredi Emeklilik, the life and pension business. 

Yap Kredi Sigorta is the fifth largest property and casualty insurance company in Turkey with total premiums of EUR 531 million. Yap Kredi Emeklilik holds a top four position in life insurance with premiums of EUR 90 million. The combination of Allianz Turkey with the Yap Kredi insurance operations will create the number one non-life insurer, the number two pensions provider, and the number three life insurer in Turkey. 

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