- In 1959, Başak Sigorta was founded under the leadership of Ziraat Bank.
- In 2006, 56.67 percent of the shares controlled by Ziraat Bank in Başak Sigorta were acquired by Groupama, Europe's leading insurance company. Following the acquisition, the company was renamed to Başak Groupama Sigorta.
- Following its privatization in 2008, Başak Groupama Sigorta merged with Güven Sigorta, one of the oldest insurance companies in Turkey.
- The company was renamed to Groupama Sigorta on September 30, 2009.