Kuwait's Gulf Insurance acquires acquires 100 percent stake in Turkey's AIG Sigorta Anonim Sirketi for USD 47.9 million.
Having been assigned as the Assistant General Manager of Groupama in
2008 following the acquisition of Guven Insurance and reassigned as the
General Manager of Groupama Insurance Inc. and Groupama Pension Inc.,
Ramazan Ulger will be retiring from office on April 30th, 2017 as a
result of the mutual decision made with the Group Management.
Recruitment process is continuing for the new General Manager and will
be announced briefly.
However, there are many definitions for an entrepreneur, we can briefly
define it as a person who takes risks. Yet, we should note also that an
entrepreneur never takes uncalculated risks. An entrepreneur tries to
make his/her desires come true taking the risk at the right time having
tracked the opportunities.
On March 11th, 2017 it was announced that the landing permit was revoked
for Mevlut CAVULOGLU, Minister of Foreign Affairs of Turkish Republic.
In this process, the Turkish government announced that they are going to
impose sanctions against the Netherlands if such practice continues.
In 2016 there were a number of huge leaks of personal data of Turkish
citizens online. It's created a massive demand for products to insure
individuals and businesses from losses caused by cyber crime. Yilmaz
Yildiz, CEO of Zurich Turkey, outlines the first product they've brought
to market to address this demand.
Meliha Yardim is assigned as the Human Resources Director of NN Life
Insurance and Pension Previously was serving as the Director of
Expertise Center and Business Partnership, Meliha Yardım will be
responsible for the functions of HR in her new assignment.
Turkish insurer ANADOLU Sigorta, one of the largest providers of non-life insurance services in Turkey, with over 1 billion Euro in GWP in 2016, has announced that is live with FRISS solution Fraud Detection at Claims. The company turned to FRISS because the insurer is aware of the threat from fraudsters.
Not another day pass without the bad news of fire incidents. We are bound to read a number of big or small fire incidents. These fire hazards are causing significant losses both material and immaterial. The total number of fire incidents only in 2016 in Istanbul adds up to 28,586. According to the statistics of Istanbul Fire Department, among these incidents 5,910 were residential and 153 were manufacturing plants. Almost 40% of all the fire incidents in Istanbul last year were due to smoking. Electrical malfunction follows smoking with a whopping 21.5%. As one may see, it is possible to eliminate at least 40% of the fire hazards if we were to observe the non-smoking warnings in commercial and industrial facilities.
As a customer, what do you see when you look at the insurance business?
Complex processes, hard to read and hard to understand policies, strict
procedures... As a person working in this sector for 16 years, I must
admit that this is the picture in my mind.
As a humane urge to secure one's future, individuals are encouraged to
invest as much as their budgets allow. These investments are sometimes
involving purchasing real estate or automobiles and other times starting
one's own business. The research showed that real estate is still the
number one choice of Turkish people as an investment. However, it is
important to secure such an investment against the risks as it is the
fruit of years of labor.
According to the announcement made by the Competition Authority on its
official website, the transfer of the Isık Insurance Corp., once was
controlled by the Asia Participation Bank Corp., to Turkish Agricultural
Credit Cooperatives Central Association is approved.
Vice President, Mehmet Simsek, was on the live broadcast of NTV.
"Traffic insurance is an obligatory insurance type," said Mr. Simsek,
having explained that they are working towards a new model for traffic
insurance emphasizing the drawbacks of the current system. "The system
is designed to compensate the damage one causes to the other. Therefore,
the one needs to be insured is rather the driver, not the vehicle. Say,
the vehicle is insured but it was trusted to an inexperienced driver.
Such factors are leading to increased premium payments. I instructed the
Treasury and they are working on it. There is a similar system in
effect in the UK where the driver is insured. Such a system considers
not only the risks the vehicle is exposed to but also the risks drivers
are exposed to. With this system we believe the number of traffic
accidents and damages will be reduced, which in return will lower the
premiums," he added.
Total GWP in the Turkish insurance market exceeded TRY 40 billion (about EUR 11 billion) last year, an increase of more than 30% compared to the previous year, according to preliminary data from the Insurance Association of Turkey - TSB. The TSB figures also show that Turkey's insurance sector grew by 20.2% in real terms last year when the annual inflation rate was 8.5%.
Aksigorta pioneers in Turkey and in its sector with the automation project which is introduced as part of the company's digitalization program. Virtual employees assigned as part of the Automation Project are providing 24/7 services while increasing the efficiency more than 8-fold.
Drawing attention with its projects building on the company's mentality of Easy Insurance, Generali Insurance announced the winner of its campaign which offered a FIAT Egea Hatchback to any vehicle owners who received a quote for either one of the traffic insurance or Casco products in a minute without any charges.
Making a difference in the sector with its innovative approach, MetLife has announced its results for 2016. The company has increased its total premium production in life and personal accident insurances by 49% in one year adding up to TL477 million by the end of 2016 and listed among the first 3 companies in the market. MetLife preserved its leading position in personal accident field among all pension and life insurance companies with its market share of 36.6%. On the other hand, the company has grown in personal pension insurance at a higher rate when compared to the sector and reached at a cumulative fund value of more than TL1.18 billion.
NN Group announced that Marius POPESCU (currently CEO of NN Romania) will be appointed CEO of NN Hayat ve Emeklilik Turkey, effective 1 April. He succeeds Frank EIJSINK which was named CEO of NN Life Japan. NN Group pointed out that Marius POPESCU's successor will be announced in due course: "On an interim basis, Mihai MUNTEAN, Chief Sales Officer, will assume responsibility as CEO NN Life Insurance Romania".
Vodafone Turkey started offering an alternative to paying for work or home insurance premiums via its 'Cep cuzdan' mobile payment service. Anyone working with a mobile wallet can pay for his daily insurance premiums by text messaging a text corresponding to an insurance to a specific number and receive its insurance in less than 10 days. Vodafone enables the payment of insurance premiums through its e-payments system VPAS. The system enables the payment of an insurance premium of TRY 1.19 per day which is obligatory to pay for work accidents and damages to homes.
The Turkish side is considering urgent payment of compensations to the
affected villagers of Dacha SU nearby Manas airport, where cargo Boeing
747 crashed in the morning of January 16.
The airline's insurance company will pay compensation to the families of victims and cover material damage as a result of the cargo plane crash, said Turkish Ambassador to Kyrgyzstan.