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TURKEY's energy company opens tender for risk insurance services
19 April 2018TURKEY: HDI Sigorta Selects the Sapiens Non-Life/General Insurance Suite
19 April 2018TURKISH State Railways to buy insurance policies via tender
19 April 2018STATISTICS: TURKEY, FY2017: MTPL experienced a technical loss of about EUR 120 million
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%).
19 April 2018HOWDEN to acquire majority stake in Turkish broker ACP
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.
12 April 2018TURKEY: Insurance market employs around 20,000 people
The insurance sector has provided employment to 19,901 people in 2017, an increase of 1.2% over 2016, according to figures announced by Turkey Insurance Association (TSB).
15 March 2018TURKEY: Takaful data disclosed separately for the first time
The Insurance Association of Turkey (TSB) has announced for the first time data related to takaful or participation insurance, showing that total contributions generated in the segment amounted to TRY109.47 million (US$28.8 million) for January 2018.
8 March 2018TURKEY: Insurance body to resolve motor issues in holistic manner
The Insurance Association of Turkey (TSB) will take a holistic approach towards resolving problems faced in motor insurance, says the association's Secretary General Mehmet Akif Eroglu. Measures will be taken this year so that in 2019, a new page will turn over in the sector, he adds.
8 March 2018TURKEY: Malaysian sovereign fund plans to sell Turkish health insurer
A unit of Malaysia's sovereign wealth fund plans to sell its Turkish health insurance business to focus on its home market, reported Bloomberg citing three people with knowledge of the matter.
20 February 2018TURKEY: Vision 2023 projects hailed as boon to insurance sector
Turkey retains its attractiveness to foreign investors in the insurance sector because of energy, infrastructure and other new projects undertaken or planned in line with the government's 2023 Vision, says Mr Maximilian Stahl, CEO of Istanbul-based VHV Reassurance. The 2023 Vision seeks to establish Turkey as one of the world's top economies by 2023 which will be the centenary of the proclamation of the Republic of Turkey in 1923.
20 February 2018TURKEY: Mart conditions need to change to push building completion cover
Changes in general conditions are needed for building completion insurance to take off in Turkey, according to an executive at reinsurance broker JLT Turkey.
7 February 2018TURKEY: Traffic Insurance Policies under the Scrutiny of the TCA
Traffic insurance activities of almost the entire Turkish insurance industry have been subject to two examinations of the Turkish Competition Authority ("TCA") in 2017.
31 January 2018TALANX to acquire non-life insurer in Turkey
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.
25 January 2018STATISTICS: Turkey 3Q2017: Major fall in the top insurers' MTPL GWP following tariffs' ceiling
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.
18 January 2018TURKEY: Motor premiums rise by 5%
Compulsory motor third-party liability insurance premiums have increased by 5% since 1 January 2018.
17 January 2018TURKEY: Law to be amended to clarify scope of motor insurance cover
A lawmaker has presented a proposal to amend the Road Traffic Law to clarify definitions so as to make it explicit that vehicle accidents in shopping mall parking lots and underground parking lots will be covered by insurance.
17 January 2018TURKEY: Motor 3rd party premium ceiling to rise by 5%+5% in 2018
The premium ceiling for compulsory motor third-party liability insurance will be increased by 5% at the start of the New Year and by another 5% in the second half of 2018.
10 January 2018TURKEY: Number of uninsured vehicles increases
The number of uninsured vehicles in Turkey has increased by 1.6 million to 7.9 million at the end of November 2017 compared to 12 months previously.
10 January 2018TURKISH insurance company up for sale
14 December 2017Turkey to establish a nuclear insurance pool, under TCIP's management
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.
7 December 2017
