Turkey News

5 Things Not to do This Thanksgiving

This post is part of a series sponsored by PersonalUmbrella.com A burnt-to-a-crisp turkey served along a side of political discourse is just one potential disaster your insureds might face this Thanksgiving. Help things go without a hitch by sharing these …

Turkey’s Insurers Gear Up for Spate of Claims After 2nd Major Storm in 10 Days

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 …

Terrorist Attack at Istanbul Airport Kills at Least 40; Islamic State Blamed

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 …

Global Insurers to Bid for Insurance, Pension Units of Halkbank in Turkey

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 …

Ward Named to Head New ACE Eurasia & Africa Business Region

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 $3.4 Trillion of Exposures to Emerging Markets

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 …

Aon Outlines Risk Management Approach for Emerging Economies

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 …

Dubai Group Sells Turkey Insurance Unit to Starr, Oman Insurance Group

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 Appoints Angelini-Hurll as Regional Director of APMETA Team

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 …

AIR Estimates Turkey Insured Quake Losses at $56.5 to $170 Million

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). …