Total insurance premiums in Turkey reached TRY 46.5 billion (EUR 10.3 billion) in 2017, 15% up y-o-y, according to data from the Turkey Insurance Association (TSB). Due the depreciation of Turkish lira against Euro by about 20%, the nominal change in European currency was negative (-5.5%).

HOWDEN, part of HYPERION Insurance Group, announced that it has entered into an agreement to acquire a majority stake in Turkey largest independent re/insurance broker ACP from private equity fund MEDITERRA CAPITAL and existing management shareholders.

German insurer TALANX annoucend it has agreed to acquire 99.4% of the shares in LIBERTY Sigorta - the Turkish non-life subsidiary of US-based LIBERTY MUTUAL Group.

During 3Q 2017, Turkish insurers reported aggregate GWP worth TRY 33.43 billion (EUR 7.96 billion), a nominal growth rate of 14.76%, according to the quarterly statistics published by the Association of Insurance and Reinsurance Companies of Turkey.

TCIP - the Turkish Natural Catastrophe Insurance Pool will sett up a nuclear insurance pool to offer EUR 700 million of protection for each of the country's first nuclear power plants, soon to be built in Akkuyu and Sinop, according to Berat ALBAYRAK, minister of Energy and Natural Resources, reports Hurriyet.

Heavy rainfall and flash floods that hit Istanbul in the early hours of July 18 have cost insurance companies TRY 200 million (USD 57 million), according to experts quoted by hurriyetdailynews.com.

A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of MILLI Reasurans Turk Anonim Sirketi (MILLI Re) (Turkey). The outlook remains negative.

Turkish insurance market's GWP was of TRY 12.4 billion (about EUR 3.2 billion) in 1Q2017, 15.7% up y-o-y in nominal terms (and 4% more y-o-y in real terms), according to the preliminary data published by the local association - TSB.

The Turkysh authorities are considering to create a "Pool system" for the distribution of MTPL premiums and claims for high risk groups of vehicles. The pool would be managed by the Turkish Motor Vehicles Bureau, under the Treasury's supervision.

As part of a project launched by Turkish insurers to prevent motor premiums escalation and reduce the number of road accidents, drivers involved in more than three road accident per year may lose their driving licence.

PensionsEurope believes that private pension saving should be encouraged to compensate for potential lower state pension benefits. In particular, we support a regulatory environment encouraging workplace pension membership, Matti LEPPALA, Secretary General CEO, PensionsEurope & Chair, OPSG of EIOPA stated on 16 May, at FIAR.

Are the insurers and the brokers ready for the GDPR challenge? What effects will GDPR have on the Romanian insurance industry and on consumers? What are the main issues in implementing GDPR? These were just a few of the topics debated during the GDPR Workshop taking place at FIAR 2018.

The second part of the REINSURING NATCAT RISKS Conference taking place at FIAR 2018 focused on the best solutions for closing the NatCat insurance gap. Christian KREUTZER, Head Market Underwriting CEE, Swiss Re Europe, and Evgeny POTOKOV, Senior Underwriter South Eastern Europe, SCOR Global P&C Deutschland were among the speakers that joined the debates.

NatCat exposure versus coverage, the largest natural catastrophe risks affecting Europe, as well as the best solutions for closing the insurance gap were just a few of the topics analyzed during the REINSURING NATCAT RISKS Conference taking place at FIAR 2018.

The second day of debates at FIAR 2018 started with The Brokers' Conference, the event dedicated to the mediation market in Romania and in the CEE region. The first part of the conference focused on a market overview and also analyzed the challenges of the IDD implementation, as well as the potential impact of IPID for MTPL and PAD.

The 21st edition of the International Insurance-Reinsurance Forum was officially opened on Monday night, with the XPRIMM Reinsurance Awards.

The INSURANCE IN A DIGITAL WORLD Conference, taking place at FIAR 2018, brought into debate the impact of digitization on the insurance industry. The first part of the conference focused on risks & opportunities of digitalization for both industry and consumers, as well as case studies and best practices: BigData & IoT, BlockChain, Peer-to-Peer, and AI.

During the second part of the Insurance Market Trends Conference, taking place at FIAR 2018, the debates focused on the current situation in Romania and the sustainable development for a growing and stable insurance market, as well as the challenges and opportunities for the local insurers.

The first part of the Insurance Market Trends Conference taking place at FIAR 2018 brought into debate the changing insurance landscape, as well as the CEE markets in the European insurance landscape, but also the concept of mutual insurance and its benefits for shareholders.