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Türkiye Wealth Fund (TWF) completed the sale of a 5% stake in insurer Türkiye Sigorta to international institutional investors through an accelerated bookbuilding process, raising roughly ₺6.75 billion ($150 million), the sovereign wealth fund announced Friday.
The deal brought Türkiye Sigorta to its highest market capitalization to date in both Turkish lira and U.S. dollar terms at ₺147.5 billion ($3.2 billion), according to the statement.
The fund initially planned to sell shares with a nominal value of ₺450 million, but increased the size of the offering by ₺50 million after strong investor demand during the bookbuilding process.
TWF stated that the transaction was intended to support capital markets and help deepen Türkiye’s financial markets. Following the sale, TWF’s ownership in Türkiye Sigorta fell to 76.1%, while the portion of shares publicly traded on the stock market rose to 23.9%.
The fund added that strong demand from international institutional investors reflected continued foreign interest in Türkiye’s financial sector and confidence in Türkiye Sigorta’s market position.
Founded in 2020 through the merger of state-owned insurance and pension companies, Türkiye Sigorta has become the country’s largest non-life insurer, holding a 14.1% market share in 2025. The company reported ₺147.1 billion in premium production and ₺19.4 billion in net profit that year.
Owned entirely by the Turkish government, Türkiye Wealth Fund (TWF) manages stakes in major state-backed companies across sectors including finance, insurance, telecommunications, transportation, energy and mining, with holdings in firms such as Turkish Airlines, Ziraat Bank, BOTAS and Türk Telekom.
TWF entered the world’s top 10 sovereign wealth funds by total assets in 2025 after surpassing the United Arab Emirates’ Mubadala, reaching approximately $360 billion in assets.
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