Duch NN Group announced the completion of the sale of its Turkish operations to Zurich Turkiye. The completion of the transaction follows the fulfilment of the customary closing conditions, including receipt of all necessary regulatory approvals. The agreement on the sale of NN Hayat ve Emeklilik was announced on 25 September 2024.

Frank Eijsink, CEO of NN International Insurance: ‘Today we officially hand over our Turkish operations to Zurich Türkiye. On behalf of the NN Group Management Board, I would like to thank our colleagues and our agents in Turkey for the great collaboration and their valuable contribution and dedication over the past 15 years. We are confident they are well positioned to further develop the business and we wish them all the best with Zurich Türkiye going forward.’

Since 2009 NN has been present in Turkey offering pension, life insurance, and complementary health insurance products. With more than 180 employees, NN Hayat ve Emeklilik serves its customers through a strong network of independent agencies. The contribution of NN Hayat ve Emeklilik to NN Group’s operating result is limited and the sale is expected to have a negligible impact on NN Group’s Solvency II ratio.