Vienna Insurance Group (VIG) is expanding its presence in the Turkish market with the acquisition of health insurer Demir Sağlık ve Hayat Sigorta A.Ş. (Demir).
This strategic acquisition will broaden VIG’s product range within Türkiye’s lucrative and rapidly expanding health sector and contribute to the diversification of portfolios in the region.
Demir has been operating in the Turkish market as a specialist in health insurance for over 30 years and works with over 1,800 contracted healthcare facilities nationwide.
Its product offering encompasses private, supplementary, and corporate group health insurance. Additionally, Demir is considered one of the leading providers of travel insurance and health insurance for foreign nationals.
Through the acquisition of Demir, VIG is also establishing a presence in the field of health tourism, while broadening its product range within Türkiye.
Commenting on the acquisition, Gerhard Lahner, VIG’s Second Deputy CEO and VIG Managing Board member responsible for Türkiye, said: “Türkiye is a dynamic market for VIG, showing high growth potential, particularly in the health insurance segment.
“The area of healthcare is of great strategic importance to our Group and, thanks to the acquisition of Demir, is now also prominently positioned in the Turkish market. We are delighted to be providing a strong impetus for further profitable growth.”
“We would like to thank the management and all employees at Demir for their commitment and successful collaboration. Combining Demir’s health insurance expertise with VIG’s presence in Türkiye and Central and Eastern Europe opens up new development prospects for the company,” says Peter Lovas, Chairman of the Board at Demir and founder of EMF Capital Partners, the selling shareholder.
Viktor Hodara, CEO of Demir, commented: “We are proud that our achievements and health expertise have been recognized by a leading insurance group like VIG and we are looking forward to our next chapter with many growth opportunities both locally and internationally.”
The acquisition comes at a time when access to healthcare plays a particularly important role in Türkiye, as highlighted by the VIG Risk Literacy Study across 12 European nations.
Six in 10 Turkish respondents perceive a high personal risk of missing needed medical care, while nearly half underestimate how often care is missed due to costs, wait times, or distance.
By acquiring Demir, and its network of over 1,800 facilities, VIG will be helping to directly address this demand for reliable care.
The Vienna Insurance Group has been operating in Türkiye since 2007 and, in 2025, generated a premium volume of around 1.2 billion euros through the non-life insurer Ray Sigorta and the life insurer Viennalife.
The transaction is subject to the necessary official and regulatory approvals.
