While much of Europe is struggling to overcome current economic difficulties, Turkey is enjoying steady growth in the insurance and reinsurance market, according to a recent blog post by Namik Gulsun.
Gulsun, executive director, Europe Middle East and North Africa at Faber Global, trading division of Willis Group Holdings, found that there is huge potential for reinsurance growth in Turkey.
“Domestic insurers must take advantage of this growth by promoting the use of more specific insurance covers for the new assets it is creating.”
“While they cruise slowly but surely towards increasing insurance penetration in the country, Turkish insurers must also adapt and become more responsive to new types of risks that they consider ‘unusual’ in terms of sophistication or size.”
