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Cigna Corp Acquires 51% in Finansbank`s Finans Emeklilik
Cigna Corp announced that it has finalized its purchase of a 51% stake in Finansbank`s insurance subsidiary, Finans Emeklilik, the life and pension product provider in Turkey through in-branch banking channels. Cigna received regulatory approval of the acquisition from the Treasury of Turkey in early November. Finans Emeklilik will be part of Cigna's Global Individual Health, Life & Accident business and will provide Cigna greater access to serve a rapidly expanding middle class market in Turkey through Finansbank`s network of over 500 retail banking branches. Financial terms were not disclosed.
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