Turkish insurers are facing one of their most challenging operating environments of the past decade, with earnings and capital adequacy likely to come under severe strain in 2022-2023, Fitch Ratings says in a new report. According to Fitch analysts, the …
The Borsa Istanbul Insurance Sector Index dropped as much as 2.5 percent on Friday after a brief but ferocious storm in Istanbul on Thursday showered the city with hail as large as golf balls, shattering windows, denting vehicles and damaging …
Coordinated suicide attacks at Istanbul’s international airport killed at least 40 people, tearing through the terminal at one of the busiest travel times of the year as Turkey struggles to contain the spillover from Syria’s civil war. Islamic State is …
Insurers from Europe, Asia and the United States are among some 20 potential bidders in the sale by Turkey’s state-run Halkbank of its pension and insurance arms, three sources close to the process said on Wednesday. Halkbank said in July …
The ACE Group announced that it has established a new business region, Eurasia & Africa, as part of its Overseas General division – the general insurance operations of the company outside North America. Regional headquarters is to be based initially …
European banks have loaned in excess of $3 trillion to emerging markets, more than four times U.S. lenders and putting them at greater risk if financial market turmoil in countries such as Turkey, Brazil, India and South Africa intensifies. The …
A bulletin from Aon Global Risk Consulting, the risk management arm of Aon plc, using responses from 100 senior risk industry professionals at its annual Client Symposium, indicates that “organizations in Central and Eastern Europe and additional emerging markets are …
The Dubai Group has sold its Turkish insurance arm to Starr Insurance and Reinsurance Ltd., a company owned by former AIG chief executive Maurice “Hank” Greenberg, and to a unit of Dubai lender Mashreq Bank, as the state investment firm …
Willis Re, the reinsurance arm of Willis Group Holdings, announced the appointment of Kieran Angelini-Hurll as Regional Director of its Indian Sub-Continent, Middle East, North Africa and Turkey operations, a newly created post within the group. He will be based …
Catastrophe modeling firm AIR Worldwide estimates that insured losses from the magnitude 7.2 earthquake that struck eastern Turkey Sunday, October 23rd, near the city of Van, will be between 100 million TRY ($56.5 million) and 300 million TRY ($170 million). …
