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.

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.

SAPIENS International Corporation, a leading global provider of software solutions for the insurance industry, with a growing presence in the financial services sector, announced on January 5, 2017 the opening of a new center in Istanbul, Turkey to support its growing business and strategic customers in the region, including Anadolu Insurance Company (Anadolu).

First three quarters of 2016 represented for the Turkish insurance market a nominal growth in written premiums of 32.1%, up to TRY 29.1 billion (EUR 8.7 billion), according to the data published by the Association of Insurance and Reinsurance Companies of Turkey.

JLT Turkey insurance company has insured the Yavuz Sultan Selim Bridge, which is the third new bridge over the Bosphorus, from terrorist attacks and fire, reads a news published by the Trend News Agency quoting a message posted on the company's website Nov. 22.

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB), Aktif Yatirim Bankasi A.S. (Aktif Bank), the largest privately-owned Investment Bank in Turkey and Ijara Management Company (IMC), a specialized company offering comprehensive solutions for new and existing Islamic leasing (Ijara) companies; signed a Shareholders Agreement on 1 September 2016 to collaborate as the new shareholders of Halic Finansal Kiralama A.S. (Halic Leasing), a financial leasing company that was established since 2004.

Today kicked off in Istanbul the 8th Edition of the International Istanbul Insurance Conference, which focuses on the topic of digital insurance market. "We decided to continue with the organization of this traditional event, despite passing through a difficult situation in Turkey. We believe in our country", Menekse UCAROGLU, President of IUC, stated in the opening of the event which is hosted by MILLI Re. 

The 8th International Istanbul Insurance Conference, organized by the Insurance Practitioners' Association, which takes place between the 6th and the 7th of October, 2016, in Istanbul, brings into debate the concept of digitalization in the insurance industry.

Blockchain technology will allow for a change of enterprise processes - from manual ones to digital, according to the Assistance Vice President of PCS, Tom JOHANSMEYER, who spoke during the 8th edition of the International Istanbul Insurance Conference. Commercial insurers still suffer from the fact that paper-based workflow logic underlies automation. 

Digitalization, a key issue in any insurance company's evolution, will be the focal point of the 8th Istanbul Insurance Conference which will take place on the 6th and 7th of October in Istanbul.

Moody's Investors Service has today downgraded the insurance financial strength rating (IFSR) to Baa2 from Baa1 of Allianz Sigorta AS ("Allianz Turkey"), the main Turkish subsidiary of Allianz SE (Aa3 IFSR, stable). The outlook on Allianz Turkey is stable in line with the outlook on the Turkish sovereign. This concludes the review for downgrade initiated on 19 July 2016. Moody's has also affirmed the Aaa.tr National Scale insurance financial strength rating (NSR) on Allianz Turkey.

At the end of June 2016, the Turkish insurance sector totaled TRY 20.66 billion (about EUR 6.4 billion), up by 35.6% y-o-y, according to the preliminary data from the Insurance Association of Turkey (TSB). Non-life insurance GWP was up by 37.83% to TRY 18.14 billion while the life insurance segment reported a 19.52% y-o-y growth-rate.