AKIN KOZANOGLU JOINS THE GENEVA ASSOCIATION, LEADING ORGANIZATION OF GLOBAL INSURANCE INDUSTRY

23.05.2008

Akin Kozanoglu, President of the Sabancı Holding Financial Services Group, has joined The Geneva Association.  Invited to The Geneva Association, Akin Kozanoglu is the first and only Turkish member of the global organization where the world's most important insurance companies are represented.  The Sabancı Holding Financial Services Group presided by Kozanoglu includes AVIVASA and AKSIGORTA in the field of insurance.

Sabancı Holding Financial Services Group President Akin Kozanoglu stated in this regard:  “Turkey is one of the fastest growing insurance markets in the world. The sector has consistently expanded at a real growth rate at least twice the GDP growth of the country for the last decade.  We expect this trend to continue for at least 5 more years.  As a top 5 player Aksigorta is one of the country's leading elementary (non-life) insurance companies.  It also owns nearly 50% of AVIVASA, the leader of the life and pension market of Turkey.  In this context, I believe we will be helping The Geneva Association and its members grow their reach in Turkey and the region.  I am also confident that the Turkish market will find a lot of opportunities to benefit from the vast experience of the Association.  I believe my membership will therefore be beneficial for both sides, and I am delighted to represent Turkey in this respect.”

Patrick M. Liedtke, Secretary General of The Geneva Association, added in his statement: "We are delighted to welcome Sabancı Holding Financial Services Group President Kozanoglu as our first Turkish member.  By extending our reach to Turkey we demonstrate our commitment to one of the world's most dynamic emerging insurance markets.  With this accession, we particularly look forward to promoting a mutually beneficial exchange of ideas and knowledge between the global insurance industry and the domestic marketplace in Turkey.”

Headquartered in Switzerland, The Geneva Association is known as the major private insurance think-tank of the world.

About The Geneva Association
Founded in 1973, The Geneva Association is a unique global think-tank formed by the chairmen and CEO from the most important insurance companies from various regions of the world.  The Geneva Association’s main goal is to research the growing importance of worldwide insurance activities for economic growth and societal progress. Further, The Geneva Association acts as a forum for its members.  The annual General Assemblies of the Association provide a platform for its members consisting of the top insurance general managers and chairmen of the leading insurance companies worldwide to exchange ideas and discuss key strategic issues.  The Geneva Association also organizes platforms for member companies' Chief Financial Officers (CFO’s), Chief Risk Officers (CRO’s), Chief Economists, and Chief Communication Officers.