4/5/2011

Sompo Japan enters Turkish insurance market

Aksam – Sompo Japan, one of the leading insurance services provider in Japan, enters the Turkish market in a bid to grab a share in the country’s booming insurance industry. The company took over the shares of Fiba Insurance last November and completed the legal proceedings to change its name to Sompo Japan Sigorta AS.
The company’s Senior Managing Executive Officer, Takeshi Oiwa, said that Turkey and Japan had historically a good relationship and that Sompo Japan is providing coverage for Fatih Sultan Mehmet Bridge over the Bosphorus and the underwater tunnel crossing under construction.
Noting the Turkish economy’s rapid expansion, Aiwa said that Sompo Japan was particulary impressed by the country’s small but fast-developing insurance market, seizing the opportunity to transfer its experience and know-how.
Active in 29 countries, Sompo Japan is the fourth biggest company in global insurance business.
Turkey; financial services; insurance market; turkish insurance market; sompo japan; fiba sigorta; japanese investment