Vienna Insurance Group (VIG) has agreed to purchase health insurer Demir in an effort to broaden its footprint in Türkiye.
Demir has operated in the Turkish market for more than 30 years and works with an affiliated network numbering more than 1,800 contracted healthcare facilities across the country.
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Its product line encompasses private and supplementary health cover, group policies for commercial clients and their staff, travel insurance, and medical coverage designed for foreign nationals.
The purchase also represents VIG’s entry into the health tourism sector.
VIG deputy CEO and managing board responsible for Türkiye member gerhard lahner 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.”
The investment corresponds with conclusions drawn from the group’s recent VIG Risk Literacy Study, which evaluated how the public perceives risk across 12 European countries.
According to the acquirer, within Türkiye, six out of ten respondents indicated a high perceived risk regarding an inability to access necessary medical examinations or treatment.
In addition, close to half of those surveyed underestimated how frequently people go without medical care because of financial costs, waiting periods, or distance.
VIG has maintained operations in Türkiye since 2007.
In 2025, the group achieved approximately €1.2bn ($1.33bn) in premium volume in the country through its life insurance arm Viennalife and non-life underwriter Ray Sigorta.
The completion of the deal remains dependent on securing official and regulatory approvals.
Demir CEO Viktor Hodara added: “We are proud that our achievements and health expertise have been recognised by a leading insurance group like VIG and we are looking forward to our next chapter with many growth opportunities both locally and internationally.”
