Ground breaking growth from Sompo Sigorta…
Emphasizing that there are only few companies sustaining the growth and profitability at the same time Sompo International Retail Platform and Sompo Sigorta CEO Recai Dalaş stated that they went beyond the ordinary and became the company with the best combined ratio with 95.7% among the companies using all distribution channels effectively and increasing the profitability while growing.
Sompo Sigorta became the company with the best combined ratio with 95.7% among the companies using all distribution channels effectively according to the first quarter of 2019 results. Although it is ranked 7th in the total production, it ranks 3rd in the accounting profit result. Sompo Sigorta becoming leader in the ratio of balance sheet to the net premium among the companies using all distribution channels effectively once more, kept its 3rd rank in the equity size. On the other hand, it ranked first in the return-on-equity ratio which is the most determinant ratio for the capital among the companies using all distribution channels in the average of last 3 years.
Stating that the sector could not profit technically in the first quarter of 2019 in his evaluation of the sector, Sompo International Retail Platform and Sompo Sigorta CEO Recai Dalaş said that: “The sector declaring a loss around 800 Million TRY could succeed to profit around 980 Million TRY especially with the financial returns in the high profit environment. However, a breakdown especially in the combined ratio compared to same period of the last year attracts the attention. A breakdown in the combined ratio which is accepted as the most basic performance indicator of the insurance sector threats a sustainable and healthy growth. Hence the combines ratio which was 101.7 in the first quarter of 2018 is now 110.8.”
Dalaş: “Considering the growth performance of the four-month premium production, our sector achieved a growth rate of 20.4% in parallel to inflation, but in fact we cannot talk about growth in real terms today. Actually, the sustained growth of our sector generally growing above the inflation depends on the ability of the non-life insurance industry to produce technical profit which is seen as the main performance. It is because that, as the main non-operating high profits derived related to financial instruments and conjuncture are not sustainable and the fact that to which extent the assets are developed or protected for the shareholder after tax is paid is an is disputed”.
Stating that they aim to improve their customer scores every day while continuing their investments in the brand, Deputy General Manager of Sales and Marketing of Sompo Insurance Özer Şimşek said that: “We carefully analyze the results of our survey that we conducted two months ago evaluating the quality of our service in all customer contact points and we constantly develop ourselves. In the last two months, it was found out that 15,000 of our customers scored us 4.2 in the five-point scale. This ratio, which is above the sector average, is not enough for us. We aim to reach the 4.5 ratio. We work with great determination with our business families for this purpose. ”