25 Mayıs 2024, Cumartesi

The competition in the insurance sector increased again; the first 10 companies must take responsibility

nipponGeneral Manager of Türk Nippon Sigorta, Dr. E. Baturalp, said, “The competition in the Turkish insurance sector raised especially in the last 3 months period. The first 10 insurance companies must take responsibility to overcome the extreme competition environment and non-profitability.” According to Pamukçu, the first 10 companies in the Turkish insurance sector must take responsibility. Pamukçu said, “The first 10 companies of the insurance sector write 75 percent of the premiums in the non-life branches. If these given companies consider profitability as well as their will to write premiums, the profitability of the whole sector will rise, too.”

The growth rate of the Turkish insurance sector will plunge down

Pamukçu highlighted that despite the nominal growth of the insurance sector in the first 9 month period, the dominant of that performance was the liability automobile insurance that increases the premiums production for about 43 percent. Stating that the insurance sector will grow 23-24 percent at the end of the year, the growth rate of the insurance sector will fall visibly.

As giving his opinions about the general situation of Türk Nippon Sigorta to SİGORTALI, Pamukçu said, “Türk Nippon Sigorta aims to be a dominant actor in all the branches that brings profit. We, as Türk Nippon Sigorta, have the target of 75-80 million TL of premium production in 2014. Alp SÜER


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