Vienna Insurance Group (VIG) is acquiring Demir Sağlık ve Hayat Sigorta A.Ş. (Demir), a Turkish health insurance specialist, from EMF Capital Partners.
Financial terms were not disclosed. The acquisition is subject to the necessary official and regulatory approvals.
Demir has operated in the Turkish market as a health insurance specialist for over 30 years. It offers private, supplementary, and group health insurance, and is one of the leading providers of travel insurance and health insurance for foreign nationals. The company works with over 1,800 contracted healthcare facilities nationwide.
According to the release, the deal also establishes a VIG presence in health tourism.
"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," said Gerhard Lahner, Second Deputy CEO and VIG Managing Board member responsible for Türkiye.
"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," said Viktor Hodara, CEO of Demir.
VIG has operated in Türkiye since 2007. In 2025, it generated premium volume of around EUR 1.2bn in the country through non-life insurer Ray Sigorta and life insurer Viennalife.
The release also cites the VIG Risk Literacy Study, which found that in Türkiye six out of ten respondents consider their risk of not receiving a necessary medical examination or treatment to be high.
Vienna Insurance Group is a listed insurance group headquartered in Vienna. Demir is being sold by EMF Capital Partners, its owner.
