11/18/2009

Turkey’s insurance sector sees premium growth in 2010

Guardian.co.uk - Anadolu Sigorta, Turkey's second largest insurer, expects premiums to grow eight percent in 2010, in line with the sector, as the USD 600 billion economy returns to growth, said Chief Executive Mustafa Su. He added that the insurance industry's expected expansion will revive interest from foreign investors. Anadolu Sigorta is aiming for a market share of 12 percent next year, up from 11.3 percent in 2009, and 10.8 percent in 2008, said Su. That growth potential is appealing to foreign investors, as there is little room to expand in their own market, Su emphasized. Dutch Group Eureko, Spain's Mapfre SA, Axa Group of France, Germany's Allianz, France's Groupama and Netherlands-based ING Group have bought seven Turkish insurers since 2007 at a combined consideration of USD 2.43 billion.
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