June 15, 2010
Corporate Name: NKSJ Holdings, Inc.
Representatives: Makoto Hyodo, Chairman and Co-CEO
Masatoshi Sato, President and Co-CEO
Securities Code: 8630, TSE, OSE
Acquisition of Shares in Turkish Non-Life Insurance Company, Fiba Sigorta
NKSJ Holdings, Inc. is pleased to announce it has reached an agreement with Fiba Holding Anonim Sirketi
and its affiliates to acquire, through NKSJ Holdings, Inc.’s subsidiary, Sompo Japan Insurance Inc.
(hereinafter “Sompo Japan”; Masatoshi Sato, President and CEO), 93.36% of the common shares in Fiba
Sigorta Anonim Sirketi (hereinafter “Fiba Sigorta”), a Turkish non-life insurance company. Sompo Japan
will also purchase all or any of the remaining 6.64% common shares in Fiba Sigorta if so requested by the
relevant shareholders, who are Fiba Sigorta’s current and former directors and employees (hereinafter and
together with the purchase from the major shareholder, collectively the “Transaction”).
If all of the common shares in Fiba Sigorta are acquired, the purchase price is 485 million Turkish lira
(approximately 28.1billion yen), which will be the largest ever investment made in an overseas insurance
company by the NKSJ Group.
1. Background to the Share Acquisition
Alongside its domestic non-life and life insurance businesses, the NKSJ group’s overseas insurance
businesses are one of its main revenue drivers, and will be actively grown through M&A. Per NKSJ
Group’s stated “Medium-Term Targets”, investments of up to as much as 200 billion yen will be made
during the three years from 2010 to 2012, with the aim of boosting adjusted consolidated income from
overseas insurance business to 16 billion yen in the fiscal year 2014. The Transaction is NKSJ Holding’s
first overseas insurance investment following its incorporation.
Turkey is, alongside the BRIC countries, one of the most promising countries for insurance business, with a
population of over 72 million1 and a low average age of 29. While its GDP per ca