Turkish Insurance News

Insurance sector will become one of the strategic sector for Turkey!

Insurance sector will become one of the strategic sector for Turkey!
18 Aralık 2017 - 11:58

Nihat Insurance CEO Nihat Kırmızı stated that the sector has become the foreground as one of the sectors with strategic priorities for the economy when the growth rate displayed in the past 10 years is considered.

Doğa Insurance The CEO, Kırmızı, has commented on the insurance sector in the written statement.

Nihat Kırmızı says that the industry is experiencing a rapid growth by considering the growth rate in the insurance sector considering the last 10 years in this sector in order to make an evaluation based on this year.

In addition to their successful performance, Kırmızı stated that they are among the strategic sectors for our country, indicating that they are able to become one of the sectors that provide a great deal of added value to the economy.

The Effects of Ceiling Price Practices Will Be Deleted

Kırmızı said that the ceiling price imposed in April 2017 brought discipline to the sector, and added that there was a decline in prices. indicating that the ceiling price process had a certain level of downward growth at the end of the year, said Kırmızı, however, expecting double-digit growth rates for the year and defended the idea that 2018 will grow independently of the ceiling price process. Add the sector’s growth performance has not only made his words that there is a significant potential for Turkey of more developed insurance industry with new legislation and regulations.

New Instruments will accelerate the development of the Insurance Sector.

On the other hand, Kırmızı said that the Regulation Regulating the Working Procedures and Principles Regarding the Participation Insurance, which had entered into force in 2017, had taken a serious step in expanding participation insurance and contributing to the economy. He added that the year 2018 would bring the insurance sector new instruments and that the insurance industry would make a rapid turn.