Thousands of foreign aid workers have arrived in Turkey and the first UN aid convoy has entered Syria after this week’s twin earthquakes. The World Bank announced a $1.78 billion relief package as well. The death toll surpassed 20,000 across …
Two powerful earthquakes, which hit southeastern Turkey on Feb. 6, 2023, deliver another blow to the local re/insurance industry, according to commentaries from AM Best and GlobalData. While it is likely that international reinsurance markets will pick up a proportion …
Turkey declared a three-month state of emergency in areas struck by two massive earthquakes earlier this week, allowing the government more leeway for rescue and reconstruction efforts. Emergency teams are racing against the clock to save potentially thousands of victims …
Turkey’s insurance association is in talks with the country’s Treasury on a potential inflation-indexed bond issue, the group’s head told Reuters, as insurers seek a new mechanism to protect their capital from soaring inflation. Turkey’s inflation rate hit 73.5% in …
U.S. insurer Chubb Ltd has agreed to buy health insurer Cigna Corp’s life, accident, and supplemental benefits businesses in Asia Pacific and Turkey for $5.75 billion in cash, both insurers said, marking the latest consolidation in Asia’s insurance sector. In …
Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced it has purchased a majority stake in Turkish specialty broker Brokers’ House (BH Sigorta ve Reasürans Brokerligi A.S.). Terms of the transaction were not disclosed. Based in Istanbul, Brokers’ …
BMS, the London-based independent specialist insurance and reinsurance broker, announced it has launched operations in Turkey. Called BMS Sigorta ve Reasürans Brokerliği, or “BMS Turkey,” the business is headquartered in Istanbul. Servet Gurkan, chairman, will lead the new operation along …
The German insurer Talanx has acquired the property/casualty insurer ERGO Sigorta A.S. from a Munich Re subsidiary. Financial details of the transaction where not disclosed. Talanx purchased ERGO Sigorta from ERGO International, which is a unit of ERGO, the primary …
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 …
