English

February-2012

Cuma, 03 Şubat 2012 07:45

Annual premium collection of Anadolu Sigorta near 2 billion lira

Anadolu Sigorta grows 35.6 percent in 2011

Premium collection of Anadolu Sigorta increased by 35.6 percent to 1.926 billion lira in 2011 compared to the previous year. Speaking on the premium collection results of 2011, General Manager Mustafa Su said Anadolu Sigorta achieved a higher-than-expectations growth.

Allianz Turkey CEO Alexander Ankel:
Allianz prefers sustainable and profitable growth

Stressing that non-life insurance companies are at a crossroad following the third quarter results of 2011, Alexander Ankel said, “The insurance companies will either pursue an unhealthy competition in order to increase their market shares or focus on technical profitability for a sustainable and profitable growth.”

Esra Güller highlights the “Beyond the Seen” privileges of AXA SİGORTA
The most significant difference of AXA SİGORTA is its Success and Trust Culture

The only thing that cannot be imitated in AXA SİGORTA management is the company culture said Esra Güller defining the existing company culture as an organization with dedicated human resources which aims at encouraging its employees to be self-improving and to take responsibilities.

Engineering and Liability Insurance Director Ercan Eryaşar:
Professional liability insurances expand

An executive of MAFPRE GENERAL SİGORTA Ercan Eryaşar said the professional liability insurances are developing day by day in Turkey, and highlighted that the regulations on the “Administrative Responsibility Insurance” which has come to the agenda recently should be prepared urgently.

“Disney Live! Mickey’s Rockin’ Road” show opens its curtains for the fourth time under ERGO sponsorship.
ERGO gives a midterm gift to children

The “Disney Live! Mickey’s Rockin’ Road” show was put on stage with the ERGO’s sponsorship between January 18 and February 5, 2012. This musical show which draws huge interest worldwide is the midterm holiday present of Ergo for the children.

Güneş Sigorta enters the New Year with fruitfulness of pomegranate

The employees of Güneş Sigorta welcomed the New Year with the “Pomegranate Party” in the Headquarters and the Regional Headquarters on Sunday, January 1. General Manager Serhat Süreyya Çetin said, “I believe that the Güneş Sigorta family will be successful in every area it desires and feels the heat of.”

Chairman of Generali Sigorta Alessandro Corsi highlighted four principles of Generali Group once again:
Sense of belonging, professionalism, innovation and credibility

Alessandro Corsi highlighted the importance of the Generali Group’s four principles, namely ownership, professionalism, innovation and credibility, adding adoption of these principles in every country Generali Group operates distinguishes the group from others.

ING Emeklilik General Manager Jetse de Vries:
We offer special protection and saving solutions according to preferences and needs

ING Emeklilik General Manager Jetse de Vries said, “As ING Emeklilik reinforces every penny of the investment of its contributors they made to realize the future they dream of, it also provides strong assurances to protect the present.”

HDI Sigorta General Manager Orhan Arıkçı:
Our first target in 2012 is profitability

Orhan Arıkçı said the first target of the HDI in 2012 is the profitability. “Of course, production is also important. However the profitability on product-base is a more important target for us. Another important target we have is to be successful in damage control,” he said, expressing his hopes for 2012.

Marketing Director Feridun Art revealed the change targets in the company’s portfolio to the Sigortacı Newspaper
Ray Sigorta to blow in the insurance market in 2012

Ray Sigorta continues to develop new products in line with the customers’ needs and changing dynamics of the industry, said the Marketing Director Feridun Art, adding the company will bring a breath of fresh air to the industry with the projects they will be launching in the coming period.

Aviva Sigorta General Manager Ertan Fırat underlines the risky building stock in Turkey
Insurers should be at the heart of the urban transformation projects

Aviva Sigorta General Manager Ertan Fırat said the urban transformation which came on the agenda in Turkey is very important. “Insurers can take part in this project and offer longer term assurances for the buildings. In this case, insurers should also be a part of the supervision processes,” he added.

SOMPO JAPAN SİGORTA

Board Member and Vice General Manager of Sompo Japan Sigorta Besim Ergun evaluated the year 2011 on the perspective of the global economy and revealed the targets as well as expectations of the company for 2012. Ergun said the developments in the global markets created challenges for the companies last year and now it is obvious that the companies cannot be managed by simple schemes. He underlined that the agencies should be ready for such developments and should work together with the well-managed companies. Highlighting the stable structure of the Sompo Japan Sigorta, Besim Ergun said the company develops products that will help agencies to gain new customers.

Işık Sigorta General Manager Recep Koçak: We maintain our profitability strategy

Recep Koçak said Işık Sigorta’s strategy not compromising on profitability of will continue in 2012 as well. He said having a profitable year in 2012 would not be an illusion for the industry if the competition conditions violating the insurance techniques are eliminated.

AEGON Turkey Agency Meetings Continue

AEGON Emeklilik and Hayat shared its new product plans with its agencies at a meeting in Istanbul. Also AEGON told its agencies that every phase from application to the issuance of policy will be able to be made electronically starting from the second half of 2012.

The Acting Chairman of the Executive Board of Insurance Agencies Hüseyin Kasap:
Those whose real business is not insurance harm the industry

Kasap said, “A company selling creams offers free personal accident insurance policy. Some banks give 20 percent additional bonus to those buying insurance policies. Such companies undermine the industry whose real business is insurance.”

FROM THE WORLD

Concordia’s damage may reach 1 billion dollars

COSTA CONCORDIA, THE SHIP THAT SANKED IN THE ITALY COAST ON JANUARY 13, HAS BOTH FINANCIAL LIABLITY AND BODY INSURANCE. THE TOTAL INSUREE DAMAGE CAUSED BY THE ACCIDENT IS SAID TO BE AROUND 1 BILLION DOLLARS.

Projects developed under the “Consciousness-raising and Promotion in Insurance Strategy” will be launched
The insurance companies are in push for increasing awareness

Projects demanded by all actors in the industry under the “Consciousness-raising and Promotion in Insurance Strategy” were reviewed by the commission. The projects that will be realized were selected. “Improving the Consciousness of Life with Insurance Project” prepared by the SAB will be implemented in 10 provinces.

TRAFFIC INSURANCE

Insurance industry making losses in traffic ask for full liberalization

FAILING TO STOP LOSSES IN THE TRAFFIC INSURANCES, THE INDUSTRY IS NOW PINNING ITS HOPES FOR REMOVING THE THRESHOLD VALUE. IT IS HIGHLIGHTED THAT THE INSURANCE COMPANIES PAYING THE DAMAGES IN THE INDUSTRY SHOULD SET THE PREMIUMS AND THAT THE COMPANIES SHOULD PROVIDE SERVICES TO ITS OWN CUSTOMERS BY LAUNCHING DIRECT COMPENSATION SYSTEM.

OUTSTANDING CLAIMS

Relieving news for the companies about the outstanding claims practice
Nice surprise for the insurance industry

With a new application of the Undersecretariat of the Treasury, five years statistics of the lawsuits filed against the insurance companies will be produced. According to the findings in these statistics, the companies will be able to transfer 15 to 25 percent of the outstanding claims reserve to their balance sheets and write them as revenue.

The impacts of the Turkish Commercial Law to the industry will be discussed in the upcoming trainings
Countdown to TCL starts at TSEV

The Turkish Insurance Institution Foundation (TSEV) has taken the impacts of the Turkish Commercial Law which will be effective starting from July 2012 to the insurance industry to its program and will discuss the TCL issue in its trainings planned in February, April, May and June.

January - 2012

Salı, 10 Ocak 2012 09:29

Anadolu Sigorta to share its income from sea with TURMEPA
Anadolu Sigorta will allocate a share of its income from insurance policies it sold to the sea vessels to TURMEPA. Speaking on the issue Mustafa Su said, “Anadolu Sigorta, the insurance company of Turkey, is the guardian and supporter of all values of our country.”

TCIP Chairman Selamet Yazıcı: TCIP extends all kinds of support to the agencies
Yazıcı said reminders are sent to the policy holders ahead of the expiration of their policies. “Most of the insurees are willing to renew their policies. In such case, we call the insuree’s agency to have them to start the necessary procedures for the renewal,” Yazıcı added.

Change in the management of MAPFRE GENEL SİGORTA
MAPFRE GENEL SİGORTA’s Vice President Pedro Lopez Solanes succeeded Javier Fernandez-Cid as the Chairman of the Board of Directors. General Manager Serdar Gül has overtaken the Vice President post.

MAPFRE GENEL SİGORTA Auto Underwriting and Agency Marketing Group Director İlker Sırtıkırmızı: Being a MAPFRE agency is a unique experience…
Ilker Sırtıkırmızı said the most important sales channel of the MAPFRE GENEL SİGORTA is the agents. “We do not see them only as our sales channels but also as our business partners, our representative in the market, our spokespeople, our friends who overtake the most important part of our job,” Sırtkırmızı said.

ERGO SİGORTA Vice General Manager Cem Köylüoğlu spoke on the health insurances: We expect supplementary health insurance to begin in 2012
ERGO SİGORTA Assistant General Manager Cem Köylüoğlu said the growth in the health insurance segment will accelerate with the supplementary products, adding that this practice will begin in 2012. Köylüoğlu noted that the ERGOCAN Health Insurance launched in August attracted great interest.

Vice General Manager Taner Senseven:
Güneş Sigorta wins by investing in its employees
The human resources play a crucial role in companies’ efforts to keep the sustainable competitive structures in free market economy of our day, said Taner Senseven adding, the Güneş Sigorta has started to bear the fruits of the investments it made to this area.

Women labor develops with Micro Credit and taken under assurance by MikroSigorta
The works of 55,000 women supported under the “Turkey Grameen Micro Credit” program of the Prevention of Dissipation Association of Turkey have been taken under the coverage of “MikroSigorta” by the Güney Sigorta. Insurance policies were given to the women, one from each province as a representative, using micro credit at the ceremony which was attended by the Nobel laureate economist Prof Muhammad Yunus, the inventor of the micro credit project, as well as Family and Social Policies Minister Fatma Şahin and the European Union Minister Egemen Bağış as the speakers.

Joint policy of HDI management: TRANSPARENT COMMUNICATION
The newly appointed managers of the HDI Sigorta expressed their desire to create a workplace atmosphere in which the employees enjoy. The joint target of the management is to have a transparent communication policy in all business processes.

A huge training push by ING Emeklilik which will train the sales channels with ING School project that will be launched in 2012
ING Emeklilik is set to launch ING School project in order to strengthen its sales network in 2012. Vice General Manager İhsan Çevik said trainings will be provided to ING Emeklilik sales teams and agencies under the ING School project.

Generali Sigorta ambitious for 2012: Generali to be the first company that comes into mind on the house insurance
Mine Ayhan: We are going to launch brand new products alongside with the existing house insurance policies in 2012. Our research and studies on this issue are underway. We are getting ready to develop the most detailed and the most ambitious products in the industry.

AEGON Emeklilik ve Hayat General Manager Uğur Tozşekerli:
Our push in the life segment to continue in 2012
Tozşekerli said the company has recorded 100 percent growth for two consecutive years thanks to the push made in the life segments, adding, “The major drivers of our success are the multi distribution channels strategy, the investments we made in the human resources and technology as well as offering products that are compatible with the customers’ life cycles.”

General Manager Levent Şişmanoğlu: “We are going to be aggressive in profitable segments and deliberate in the segments that are not profitable.” Ray Sigorta focuses on productivity and profit
Ray Sigorta General Manager Levent Şişmanoğlu said the company will pursue an aggressive growth in segments which they believe are profitable, however will be more conservative in the unprofitable branches.

Computer training was provided to 18 young women under the social responsibility project of Aviva Sigorta
KIDS MOVE FROM “Streets to Schools”
The “From Streets to Schools” social responsibility project launched by Aviva Sigorta in 2008 continues to bear its fruits. Seven students of Yeditepe University, a supporter of the project, have collected a record donation of 13,000 lira.

Işık Sigorta General Manager Recep Koçak: Foreign interest to the industry does not slowdown
Speaking on the convergence between the Turkish insurance regulations and the EU legislation and the importance of the Turkey’s geographical advantages, Recep Koçak said, “Moreover, our country continues to be attractive given the minimum impact of the global economic crisis and the fact that it is among the countries which will profit from this period.”

TSRSB executives met press members in Şile
The industrial executives and the members of the press came together at the weekend event organized by The Association of the Insurance and Reinsurance Companies of Turkey on December 2 and 4, 2011. The recent developments in the insurance industry were debated at the event which became more colorful with the backgammon tournament, movie presentation, match broadcasting and sightseeing.

Recent developments in the European insurance industry were discussed
The recent developments in the European insurance industry were discussed with the industry representatives in the light of the Solvency II which the global insurance industry is getting ready for at a discussion panel hosted by TSRSB. Life and non-life segments were among the topics of the panel which also drew huge participation from abroad.

The panel titled “Turkey’s Earthquake Reality” organized by SAB was held in Istanbul on December 14, 2012.
Measures against earthquake are insufficient
The participants of the “Turkey’s Earthquake Reality” panel organized by the SAB Insurance Agencies Association in Istanbul underlined that the measures taken in Turkey against the earthquakes are insufficient and this reality was once again proved by the earthquake in Van.

Insurance Director General of Undersecretariat of Treasury Dr. Ahmet Genç:
Industry does not face non-profitability problem as it did in the past
Genç said a part of the loss has been met, adding, “I think that there is no non-profitability problem compared to the past when the impacts of some new technical reserve practices and the methods of calculation of technical reserves which began to be implemented after 2005.”

Insurance agencies summit in the Black Sea…
The problems of the industry were put on the table at the 8th Insurance Agencies Summit of Turkey in Trabzon organized by TUSAF and hosted by TUSID. The communiqué issued at the end of the summit underlined that the agencies are not the responsible of the technical loss seen in the insurance industry.

Damages from disasters coupled in worldwide compared to the previous year
According to the Sigma report issued by Swiss Re, the total cost of the damages caused by natural and man-induces disasters to the global insurance industry is 108 billion dollars in 2011. The total economic cost of the disasters set a record by exceeding 350 billion dollars.

Hopefully, the new one be better than the old
The year 2011 failed to satisfy the insurance industry as the 2010 did. Even though the production increase in the first nine months was at the satisfying levels, the non-life segments continued to record loss this year. The overall expectation of the industry for 2012 is that it doesn’t be worse than the last year.

Anadolu Sigorta General Manager Mustafa Su:
New foreign investors may come
We expect to see the number of foreign insurance companies to increase due to the potential of the low insurance rate in our country. Besides this, we may see consolidation of some partners because of the negative consequences of the competition.

Güneş Sigorta General Manager Serhat Süreyya Çetin:
Industry changes the course
We have changed the course as a result of the new legislation and the industrial practices. Insurance is a sector which depends on the economic situation. We see strong signs that the economic growth will continue in the coming period as well.

Mapfre Genel Sigorta General Manager Serdar Gül:
We can’t see signs of the bold steps needed in traffic segment
Lack of new measures in the first half of 2011 means losses will be recorded in the first half of 2012. Radical and bold steps should be taken in traffic insurances and unfortunately, we cannot see the signs of this.

Anadolu Hayat Emeklilik General Manager Mete Uğurlu:
2011 was a great year for Private Pension System
The year 2011 was one of the greatest years for the Private Pension System. In the first 10.5 months, the net increase in the number of participants was more than the previous three years. The net increase in the number of the participants, which hovered around 250,000-280,000 in the last years, reached 330,000 before the year end. That means 2011 was a great year

Finans Emeklilik General Manager Ajlan Sözütek:
Number of participants to increase by 13-14 percent
As the employer group pension plans have accelerated in 2010 and 2011, the corporate participations may increase as a result of potential new legal regulations and increased tax advantages.

Generali Sigorta General Manager Mine Ayhan:
Industry should grow in non-auto
All companies are in fierce competition due to the low level of insurance policies. The major driver for development will be to widen the reach of insurances to non-auto segments and to increase the number of the insured.

Ray Sigorta General Manager Levent Şişmanoğlu:
Significant increases to be seen in engine rates in 2012
Ray Sigorta General Manager Levent Şişmanoğlu said the sector generally grew in 2011, however the spare part prices in the automobile industry rose above the inflation rate. He expects to see realistic and significant increases in the engine rates in 2012.

Ergo Sigorta General Manager Mert Ekitmen:
We have reached most of our targets
We have taken important steps to achieve a more balanced and profitable structure in terms of bringing the premium ratios of the segments except the automobile in our portfolio to the market average. We have offered our car insurance policy to our agencies and insurees by making them more compatible.

Milli Reasürans General Manager Hulki Yalçın:
No big price increases expected in reinsurance
The reinsurance rates were expected to increase following the earthquake in Japan. In fact, it is normal to see price increases in the damaged areas; however we did not see any significant price increases in the areas that are not damaged. In some regions, this rate is as low as 5 to 10 percent.

Türk Nippon Sigorta Vice General Manager of Financial Affairs Cem Ekiz:
Growth without profit to continue in 2012
Türk Nippon Sigorta’s Vice General Manager of Financial Affairs Cem Ekiz said the industry is expected to grow by 19 percent in nominal terms and around 8 percent in real terms in non-life segments in 2011.

GESİD Co-Chairman and Board Member and Vice General Manager of Chartis Sigorta Sema Bulutlu:
Tens of thousands of employees serve to the balance sheet losses
Our people spent seriously more than it earns. They count on the stability and this is good for us, the insurance companies. We cannot benefit from this mood. Tens of thousands of employees serve to the losses in the balance sheets.

The Chairman of Insurance Agencies Association of Istanbul Turusan Bağcı: 50 event at the 50th year of ISAD
At ISAD we have planned to organize 50 events in our 50th anniversary. We have planned these activities in the light of the insurance promotion and awareness strategies. The budget of most of the activities are prepared, the preliminary talks and permissions are completed.

December - 2011

Çarşamba, 02 Kasım 2011 14:02

1. Anadolu Sigorta was in the earthquake zone starting from day one

Anadolu Sigorta CEO Mustafa Su stated that the presence of its experts in the region accelerated the process and provided advantages for their insurance policy holders. “Our purpose is to compensate the damages of all of our insureds as soon as possible,” he said.

2. Guaranty of executive liability insurance

Anadolu Sigorta CEO Mustafa Su pointed to the importance of executive liability insurance and stated that insurance demand from board members and CEOs regarding their personal liabilities is increasing.

3. School, medical house and housing in Van from Allianz

Allianz Türkiye management who has completed its field trip amid the earthquake in Van will rebuild the damaged school in Mollakasım village. Allianz has signed up for a sustainable social responsibility project and it will also sponsor the building of a medical house and housing facility.

4. LEADERSHIP CONTINUES

According to the Association of the Insurance and Reinsurance Companies of Turkey (TSRŞB) figures, AXA SİGORTA preserved its leading position in premium generation at the end of 9 month with 1 billion 423 million liras.

5. AXA Holding Chairman and CEO Cemal Ererdi visited Van

Ererdi who travelled to the region to see firsthand the damage caused by the earthquake, also listened to the problems of AXA SİGORTA agents and insured clients. Ererdi stated that the AXA SİGORTA will compensate 23 million liras of the total payments by the industry that he estimates to be worth 60 million liras.

6. Travelers are in safe hands with MAPFRE GENEL SİGORTA

MAPFRE ASISTENCIA was selected ‘The Best Travel Insurance Company’ of 2011 by International Travel Insurance Journal (ITIJ). Tolga Dağlıer, the deputy CEO of MAPFRE GENEL SİGORTA emphasized the importance of assistance in travel insurance customer service.

7. ERGO agents met in St. Petersburg

ERGO, came together with its agents in St. Petersburg, the historic city of Russia between October 13-16 2011. Following the meeting where ERGO’s 2011 annual review and 2012 objectives were discussed; the agents also had a chance to get to know St. Petersburg through pleasant sightseeing tours.

8. Güneş Sigorta’s 9 month profit is 11.5 million liras

Güneş Sigorta increased its technical profit by 159 percent and announced 11.5 million liras of net profit at the end of the third quarter of 2011. CEO Serhat Süreyya Çetin stated that they have reached this result by focusing their premium generation on profitable segments and added that they will continue the same way in 2012.

9. Insurance clients reach HDI with a single message

HDI Sigorta developed a new system compatible with smart phones to enable its customers to reach necessary assistance services more easily. Through another application, SMS system, the insureds can express the assistance service they require with a single message.

10. Support for the disabled from HDI

HDI Sigorta, signed up for cooperation with the ‘Solidarity with the Disabled Association’. Based on voluntary participation from the employees and agents, the company aims to collect donations to provide wheelchairs, scholarships and treatment aid for the organization.

11. HDI agents discovered the history of Sarajevo

The agents who ranked high in the Vital Personal Accident İnsurance campaign by HDI Sigorta between February-June 2011 travelled to Sarajevo.

12. HDI support for stray dogs in Bolluca

HDI Sigorta donated a container to the animal shelter in Bolluca that made the news with the poisoning of many dogs in the past months.

13. ING Emeklilik offers advantageous protection products against unemployment

ING Emeklilik CEO Jetse de Vries stated that they have prepared the ‘Income Protection’ and ‘Credit Card Loan Protection’ packages to provide guaranty against the risk of unemployment. “In order to better answer customer needs we add new products to our range of products every day,” de Vries said.

14. Dubai Group on Anatolian roads

Dubai Group Sigorta CEO Korhan Gürakan and top executives met with agents in separate regional meetings held in Bursa, İzmir and Antalya during October. Dubai Group Sigorta’s future strategies are discussed with the agents in the meetings.

15. Profitable period in Ray Sigorta

Ray Sigorta, began to harvest its strategy of portfolio transformation and productivity focused efforts. CEO Levent Şişmanoğlu stated that Ray Sigorta had a profit of 1.8 million liras at the end of the third quarter in 2011.

16. Ray Sigorta takes its place in the social media

Ray Sigorta which employs an uninterrupted and sustainable communication strategy reaches out to distribution channels, insured clients and target groups through www.facebook.com/RaySigorta and http://twitter.com/#!/Ray_Sigorta.

17. Successful agents in Aviva Premier Club

Those agents who contributed most to Aviva Sigorta’s results will become a natural member of Aviva Premier Club. Premier Club members will attend the annual trips abroad organized by Aviva and will benefit from many exclusive offers.

18. Aviva Sigorta employees meeting in Cyprus

AVIVA Sigorta held its traditional BAP meeting in Cyprus Kaya Artemis Hotel between October 13-16. The agents who attended the meeting held abroad for the first time enjoyed the summer in Cyprus.

19. Halk Sigorta CEO Veli Bal: The industry worked like an NGO in Van

“The fact that our industry penetrated the earthquake zone quickly and that it took part in humanitarian aid efforts with full capacity is both a matter to be appreciated and pleasing in the sense that it has a solid earthquake reflex.”

20. 2011 is a historic year in terms of results in the industry

Sompo Japan Sigorta CEO Recai Dalaş stated that 2011 is a historic year in the sense that particularly in the first half, all the businesses were in red but he added that on the other hand, Turkish insurance industry has recorded a remarkable growth when compared with the global market.

21. Solvency II is a holistic risk management framework for companies

Serhat Yücel expressed his opinion regarding Solvency II framework for which insurance businesses around the world are preparing for. “Capital adequacy measurements should be supported by administrative regulations and controls. In fact, Solvency II means a holistic risk management framework.”

22. Special insurance products for the SMEs from Generali Sigorta

Generali Sigorta CEO Mine Ayhan pointed that the SMEs’ understanding of the significance of insurance is developing fast and that they are developing new special products to answer their needs.

23. Eureko Sigorta and its agents celebrated a successful year in Lisbon

Eureko Sigorta, met with its agents in a four-day trip to the capital of Portugal, Lisbon. Eureko Sigorta employees had a chance to see the history, culture and natural beauties of Lisbon, another city built on seven hills just like Istanbul. They have also discovered the local flavors.

24. Private pension companies unite under the roof of the Association

According to the draft Insurance Law prepared by the Treasury, private pension companies will from now on be members, and thus the name of the Association of the Insurance and Reinsurance Companies of Turkey will be changed to Association of the Insurance, Reinsurance and Pension Companies of Turkey. In case of any problem in providing collateral, the Pool for Extraordinary Risks will step in.

25. BEING AN AXA SİGORTA MEMBER 2011: The Right Strategy Makes a Difference

Following the agents meeting, AXA SİGORTA brought the ‘The Right Strategy Makes a Difference’ concept to its employee meeting. The traditional Being an AXA SİGORTA Member Conference was held in Antalya between October 21-23.

26. WATERS DO NOT CALM DOWN IN Thailand

Initial insured property damage estimations in Thailand that has been flooded for the past 3 months are scary. The damage could reach up to 5 billion dollars in the country which became an industrial hub with automotive, electronics manufacturing and rice production.

27. Insurance giants try to overcome the crisis

World’s insurance and reinsurance giants announced worst results in the third quarter compared to the same period of last year. In the statements, the companies announced that the figures should be considered normal given the excess amount of disasters.

28. Insured property damage in VAN EARTHQUAKE is estimated to be around 50-80 million liras

Van earthquake, a major issue making headlines in Turkey is some sort of a test for the insurance companies. The executives are confident that the industry will easily compensate for the damages and DASK announced that the total amount of payments could reach up to 80 million liras.

29. DASK Chairman Selamet Yazıcı: The number of notices of claim could reach 5,000 buildings out of 7,000 insured ones

Amid two earthquakes in Van, Yazıcı stated that the total number of notices of claims could reach up to 5,000 and added that the total payments would be between 50-80 million liras.

30. Generali Sigorta CEO Mine Ayhan: Low level of insurance penetration shows that we cannot operate the existing mechanism effectively

Ayhan stated that mandatory earthquake insurance penetration is low and it proves that the existing mechanism is not managed properly. “I think we need to take new precautions to make the mechanism work,” he said.

31. Anadolu Sigorta CEO Mustafa Su: Based on notices of claims received by Anadolu Sigorta, estimated damage is 6 million liras in total

Su stated that the estimated damage in the first earthquake is around 2.5 million liras while the figure is around 4 million liras for the second earthquake.

32. ERGO Sigorta CEO Mert Ekitmen: Should disasters raise insurance awareness, we would be the country with highest rate of insurance penetration

Ekitmen stated that insurance penetration is below 30 percent after a decade since the introduction of DASK. “Even after disasters, insurance awareness does not increase,” he said.

33. Işık Sİgorta CEO Recep Koçak: It is called mandatory but no one buys the earthquake insurance

“In new buildings, one should be careful about earthquake zones, no building permit should be granted for areas where the foundation is not solid, and the buildings should be constructed in line with the construction techniques.”

34. Güneş Sigorta Deputy CEO Hasan Altaner: We have a long way to go to increase insurance awareness

Hasan Altaner: “Low penetration levels in even mandatory insurance policies indicate that we have a long way to go.”

35. SAB, inspected the earthquake zone together with ‘Call to Union Platform’

SAB participated into the ‘Call to Union Platform’ established under TOBB and made inspections in Van and Erciş together with representatives from other institutions in the platform. SAB Chairwoman Ayşe Kılıçsaid they have solved housing problem of an agent whose house and office had collapsed in the second earthquake.

36. Actor and dubbing expert Toprak Sergen complains about today’s TV world: There is no solution but to destroy everything and rebuild

TOPRAK SERGEN CATEGORICALLY OPPOSES THE ESTABLISHED CULTURE IN TODAY’S TV WORLD. “THIS SYSTEM NEEDS TO COLLAPSE ENTIRELY SO THAT A NEW AND BETTER VERSION COULD BE ESTABLISHED,” HE SAID. SERGEN ALSO ADDED THAT THERE ARE NO 90-MINUTE SERIES EPISODES LIKE TURKEY HAS IN OTHER PARTS OF THE WORLD AND CONTINUED: “THIS SYSTEM NEEDS TO CHANGE AND IT WILL. MEDIA TERRORISTS ALWAYS DO THE SAME THINGS AND AS A RESULT THE PRODUCTS ARE VERY BORING”.

37. Nothing new on reinsurance front!

It is stated that policy renewals in reinsurance will not be very difficult in Turkey. Despite the catastrophic events of 2011, a major rise in prices is unlikely thanks to excess capacity in world reinsurance market.

38. President of Insurance Practitioners’ Association Fahri Altıngöz: The earthquake in Van will not affect the prices

STD President Fahri Altıngöz evaluated the 2012 reinsurance meeting that took place in Baden Baden and stated that reinsurance prices might increase a little bit however there will be no capacity problem in Turkey.

39. Ziraat Sigorta CEO Naim Temur:
Excess capacity in the reinsurance market will balance the prices

Ziraat Sigorta CEO Naim Temur stated that the catastrophic events of 2011 will not cause a price hike and added: “Thanks to the excess capacity in reinsurance, the market will not get too tough.”

40. Lockton Re Director Okan Çağlayan:
Reinsurance cost in undamaged areas will not change

Lockton Re Director Okan Çağlayan stated that thanks to the balancing of excess supply in the reinsurance market, 2012 policy renewals in undamaged areas and reinsurance will be as usual.

41. Willis Re Director Muzaffer Aktaş: 2011 will be a record breaking year in natural disaster damages
Muzaffer Aktaş stated that the damages that happened in 2011 will increase insurance costs. “Insurance companies’ protection will cost more so they will have to increase their prices to share the burden with policy holders,” he said.

42. Insurance Arbitration Council judge and Expert Timuçin Alpay:
Traffic insurance policy guaranty got lost in the omnibus bill

Timuçin Alpay stated that the omnibus bill indirectly puts a restriction on policy limit and the financial burden is transferred to the insurance policy holder. “This situation is against the equity principle of the constitution,” he said and cautioned that the insurance policy holders will be aggrieved.

November - 2011

Salı, 01 Kasım 2011 14:02

1. Anadolu Sigorta wins recognition with its ‘One Master One Thousand Masters’ commercials
The commercials of Anadolu Sigorta’s Social Responsibility Project, ‘One Master, One Thousand Masters’ were aired on TV channels and gained recognition. The commercials are about an Edirnekâri master (a historic wood lacquering technique) teaching his art to the new generations with the help of Anadolu Sigorta.

2. Microsite service from Anadolu Sigorta to its agents
Thanks to Anadolu Sigorta’s newly designed “Leaflet Centre” microsite, the agents can pick the leaflet or handout layouts they need, add their agency name and contact info and get ready for print. http://brosurmerkezi.anadolusigorta.com.tr/

3. The 4th installment of Private Savings Insurance is free from Allianz
Allianz which offers solutions for its customers’ insurance needs from A to Z has launched a new campaign for its newly expanded Private Savings Insurance. Allianz offers the 4th installment of the insurance for free for up to 250 TL.

4. Allianz includes Skoda Car Insurance to its branded car insurances
Allianz offers its clients the Skoda Car Insurance product developed in cooperation with Yüce Auto and vdf Sigorta.

5. Allianz Agency Club Elite members met in Istanbul
Istanbul meeting of Allianz Agency Club Elite, the second meeting of its kind this year, took place between September 16-18.

6. ‘The Right Strategy Makes a Difference’
About 800 people attended AXA SİGORTA’s 2011 annual agencies meeting with “The Right Strategy Makes a Difference” theme in Antalya Rixos Sungate hotel between October 6-9.

7. MAPFRE GENEL family got together
MAPFRE GENEL SİGORTA and MAPFRE GENEL YAŞAM SİGORTA 2011 Annual Feedback Meeting and Employee Picnic took place in Saklıköy Country Club on September 25, 2011.

8. MAPFRE, selected the best insurance company in Latin America this year as well
MAPFRE was selected Latin America’s best insurance company by a Euromoney magazine group affiliate, Reactions Magazine, it is the sixth consecutive time that MAPFRE gets the title.

9. MAPFRE, again among the largest 500 global companies
MAPFRE, is one more time in the US-based Fortune magazine’s global 500 list.

10. A magnificent ice show sponsored by ERGO
Globally popular “Disney On Ice – Princesses and Heroes” show was held in Istanbul between October 7-16 with ERGO as the main sponsor.

11. Güneş Sigorta gets second place in Dragon Boat Championship in Turkey
Güneş Sigorta got second place in inter-company Dragon Boat Championship organized for the first time by Turkey Canoeing Federation.

12. RAY SİGORTA AGENTS SAID “US”
Ray Sigorta’s agents meeting with “US-Our Ideal is the Top” theme took place between October 6-9 in Antalya Venezia Palace Hotel.

13. WE MAKE A DIFFERENCE IN THE INDUSTRY
Türk Nippon Sigorta Deputy CEO Ela Karahüseyin said they will be the company that gets the best out of technology thanks to the newly launched agent portal Galaksi and the forthcoming mobile applications.

14. WE DON’T HAVE A COMPETITOR IN TECHNOLOGY
“Just like in any other industry, we are going through fierce price competition, shrinking profits and loss of clients” Marketing Director Mete Akalın said. “The rightful and effective use of technology bring companies a step ahead of their competitors.”

15. Aviva Sigorta employees met with their girls
“From the street to the school” project by Aviva Sigorta firstly launched on December 15, 2009 continues to bear fruit. Within the scope of this project, a group of volunteers have visited a Social Services and Children Protection Agency (SHÇEK) dorm on September 14, 2011 and they told about their painting activity with 17 girls.

16. “Işık Sigorta on the side of the agents all the time”
Işık Sigorta CEO Recep Koçak who has recently visited the agents affiliated with Southeastarn Anatolia Regional Directorate said the synergy created by these visits bear fruit. “We believe that we will be successful through our approach that cares about the people,” Koçak said.

17. “We will bring livelihood to the industry by stepping outside the conventional rules”
HDI Sigorta CEO Orhan Arıkçı stated that HDI Sigorta is avoiding the conventional rules and is on its way to become a pioneer company with a fresh perspective and added that they will combine the creativity in Turkey with the discipline in Europe.

18. Sompo Japan executives got together with the agents
Sompo Japan Sigorta organized regional meetings to bring together its top level executives with its agents. In the meetings new products have been presented, the agents’ demands have been explained and the common message of the executives has been, “Growing by winning together with our agents”.

19. Agency consultancy is crucial for satisfaction in case of damage
Generali Sigorta CEO Mine Ayhan haid stated that the consultancy of the agents to the insurance holders during the creation of a policy is crucial so that in case of damage the insured face no problems. “Sparing time to the client and telling them about the additional assurances enables the satisfaction to increase,” Ayhan continued.

20. JANUARY 2011-SEPTEMBER 2011 INSURANCE INDUSTRY PREMIUM GENERATION
At the end of the third quarter in 2011, the premium generation of the insurance industry increased by 21.9 percent compared to the same period last year and exceeded 12.5 billion liras. The real growth rate that was 19 percent at the end of the first six months of this year decreased a little during the third quarter but was still above 15 percent.

21. Insurance industry in Europe provides for 2 million people
37 percent of the total global premium generation in 2010 was from the European market. European insurance industry that overshadowed other markets in premium generation provides jobs for 950,000 people and contributes indirectly to 1 million people outside the industry.

22. ING Emeklilik ‘Winners Club’ met in Cyprus
ING Emeklilik-ING Bank “Winners Club” meeting took place in Cyprus Kaya Artemis Resort Hotel between October 21-23, 2011.

23. Halk Sigorta, met with Halkbank marketing department executives in Antalya
“Banking Insurance Coordination Meeting” organized by Halk Sigorta and Halk Hayat ve Emeklilik to which Halkbank marketing department executives and top ranking executives have participated, took place in Antalya.

24. The kids believe GRANDPA EARTHQUAKE is a Disney character
PROF. AHMET METE IŞIKARA STATED THAT THE CHILDREN HAVE THE HIGHEST LEVEL OF CONCIOUSNESS REGARDING THE EARTHQUAKES IN THE SOCIETY AND HIS GRANDPA EARTHQUAKE CHARACTER PLAYS A MAJOR ROLE IN THIS: THERE ARE SOME KIDS WHO BELIEVE I AM A DISNEY CHARACTER!

25. The growth in Turkish cinema is also good for the insurance industry
Movie producers feel the increasing need for insurance in Turkey where the budgets of movies and TV series are on the rise and the salaries of the actors are also increasing. Many components of a movie ranging from personal accidents to technical equipment can be covered.

26. Fall is full of HEAVY FLOODS…
The floods have hit Rize and Antalya the most. There is no specific information about the amount of damage caused by the floods in Rize but according to the statements, the farmers in Antalya hurt by the floods are to get payments worth 5 million liras. It is also stated that only about 40 percent of the farmers in Antalya have insurance policies.

27. Secretary General of the Association of the Insurance and Reinsurance Companies of Turkey (TSRŞB) Erhan Tunçay: The estimated damage in Antalya is around 3 million liras
Tunçay stated that the excessive rains in Antalya during the month of October have mostly damaged cotton, apple and vegetable production.

28. Generali Sigorta CEO Mine Ayhan: Only about 40 percent of the farmers in Antalya who were hit by floods have insurance policies
Ayhan noted that only about 40 percent of the farmers in Antalya who were hit by floods have insurance policies and that this figure is higher than the previous years.

29. Anadolu Sigorta Deputy CEO Levent Sönmez: Agricultural insurance is not perceived as a necessity
“Those farmers whose damage is compensated thanks to their insurance have a positive impact in setting example for those farmers who have no insurance policies,” Levent Sönmez said.

30. All the stakeholders of the industry met in Ankara
The meeting within the scope of “Insurance Awareness Raising and Promotion Strategy” that comprises years 2009-2013 and issued by the Undersecreteriat of the Treasury took place in Ankara on October 8 and was hosted by TOBB Insurance Directorate.

31. All eyes on complementary health insurance
TECHNICAL PROFIT PROBLEM REACCELERATED IN ONE OF THE MOST IMPORTANT SEGMENTS OF THE INSURANCE INDUSTRY, THE HEALTH INSURANCES, IN 2011. THE INDUSTRY HAS UNDERWRITTEN LOSSES WORTH 45.9 MILLION LIRAS. THE ENTIRE HEALTH INSURANCE INDUSTRY IS CURIOUSLY WAITING FOR THE IMPLEMENTATION OF THE COMPLEMENTARY HEALTH INSURANCE WHOSE REGULATION IS STILL BEING PREPARED.

32. Insurance Directorate of the Undersecreteriat of Treasury: Turkey has great potential in health insurance
UNDERSECRETERIAT OF TREASURY POINTED THAT THE RATIO OF TOTAL HEALTH INSURANCE TO THE ENTIRE POPULATION MEANS THERE IS GREAT POTENTIAL AHEAD OF TURKEY.

33. TSRŞB DEPUTY SECRETARY GENERAL MEHMET KALKAVAN: Total numbered of the insured will reach 2 million in 2012
KALKAVAN STATED THAT TOTAL NUMBER OF PEOPLE WITH HEALTH INSURANCE POLICIES WILL REACH 2 MILLION IN 2012. HE ALSO ADDED THAT IT IS IMPORTANT THAT PRIVATE INSURANCE WILL TAKE A GREAT DEAL OF LOAD OFF THE SGK’S SHOULDERS.

34. ANADOLU SİGORTA CEO MUSTAFA SU: Different products that appeal to different economic strata need to be developed
SU POINTED THAT TO INCREASE THE NUMBER OF INSURED PEOPLE IT IS CRUCIAL TO DEVELOP DIFFERENT PRIVATE HEALTH INSURANCE ALTERNATIVES THAT APPEAL TO DIFFERENT ECONOMIC STRATA.

35. ALLIANZ EMEKLİLİK VE HAYAT CEO ÖMÜR ŞENGÜN: The increasing number of private hospitals in Turkey increased the demand for private insurance as well
ŞENGÜN STATED THAT PRIVATE HEALTH INSURANCE HAS DEVELOPED IN PARALEL WITH THE ESTABLISHMENT OF PRIVATE HOSPITALS IN THE 90’S. “HIGH COSTS HAVE CONTRIBUTED TO THE DEVELOPMENT OF HEALTH INSURANCES,” ŞENGÜN SAİD.

36. ERGO SİGORTA DEPUTY CEO RESPONSIBLE FROM HEALTH CEM KÖYLÜOĞLU: Complementary health insurance will bring livelihood to the industry
“THROUGH THE COMPLEMENTARY HEALTH INSURANCE, PEOPLE WILL GET A CHANCE TO BUY PRIVATE INSURANCE POLICIES AT LOWER COST IN ADDITION TO THE PREMIUM THEY PAY TO SGK,” KÖYLÜOĞLU SAID. “THIS WILL PROVIDE EASIER ACCES AND WILL BRING LIVELIHOOD TO THE INDUSTRY.”

37. The largest earthquake of the past 12 years has hit Van where 91 percent are uninsured
The largest earthquake since 1999 has hit the city of Van where the rate of compulsory earthquake insurance is among the lowest. The city has 7,300 compulsory earthquake insurance policies and it is estimated that the ratio of damaged policies will be about half of it.

38. Industry meeting at the commencement
The executives did not leave students alone at the commencement of TSEV’s 28. Term Basic Insurance Training and Advanced Insurance Training. The ceremony that took place on October 10, became a platform that united the executives of the industry.

39. Improved SGK is a roadblock for the private insurance
During our interviews at Sektör Kahvesi, we realized that the inclusion of the private hospitals that have an agreement within the scope of SGK reduces the need of the people for private health insurance. Those who claim that SGK services are much better compared to the past also complain about high premiums of private health insurance.

40. Deniz Kanijali, appointed as Güneş Sigorta Deputy CEO
Deniz Kanijali who worked as Marketing and Sales Management Group Director in Güneş Sigorta is appointed as Deputy CEO of Marketing and Sales Management.

41. Arzu Tan appointed as Güneş Sigorta Advertisement and Public Relations Director
Arzu Tan who has 14 years of experience in communications is appointed as Güneş Sigorta Advertisement and Public Relations Director.

42. Mustafa Su: We want our agents to report damages that they suspect abuse to the companies
TSRŞB President Mustafa Su stated at a presser that insurance fraud is a crime and the financial burden of abuses is at least 10 percent of total damage payments. This ratio corresponds to 716 million liras on an annual basis and is above the entire loss of traffic and car insurances.

43. Atilla Oksay, appointed as Deputy Secretary General of TSRŞB
Atilla Oksay, is appointed as Deputy Secretary General of the Association of the Insurance and Reinsurance Companies of Turkey (TSRŞB) on October 3, 2011.

October - 2011

Cuma, 07 Ekim 2011 13:33

1.Anadolu Sigorta extends its support to Urartian heritage of niello
Providing trainings to many new masters under its “One Thousand Masters, One Thousand Projects” initiative aimed at bringing the forgotten professions to light, Anadolu Sigorta has contributed to the education of 20 masters with its support to Van’s niello silver works which have its roots back to Urartus.

2.Digital Leap from Allianz
Allianz takes its brand communication to the digital platform. The first campaign of Allianz, which acts on the grounds to ensure a constant and sustainable communication on digital platforms, is “Passes Fast in a Decade”.

3.First step in the complementary health insurance comes from MAPFRE GENEL
MAPFRE GENEL SIGORTA is the main sponsor of the conference on “Complementary Health Insurance” which will be held in Sheraton Maslak Hotel in Istanbul on October 21, 2011 to discuss the private insurance system and its relations with the private hospitals in Turkey.

4.ERGO takes your loved ones to protection circle with its “My Family Under Guarantee” Insurance
ERGO’s “My Family Under Guarantee” is developed to prevent any suffering of family members if the one in the family who provides financial resources is injured or killed by natural causes or in an accident. It takes life standards of the insurer’s loved ones under 360 degree of protection and assurance.

5.Güneş Sigorta team challenging in ‘the biggest competition in water’
Güneş Sigorta participated in the Dragon Boat Corporate Tournament, organized by Canoe Federation of Turkey for the first time in Turkey. The women, men and mixed teams of Güneş Sigorta Dragon Boat trained three days every week for the tournament.

6.Barcelona trip raised the moral of Güneş Sigorta’s successful agents
Güneş Sigorta awarded a Barcelona trip to its successful agents between September 15 and 18, 2011. General Manager of Güneş Sigorta Serhat Süreyya Çetin said, “Synergy we have created together with our agents is a proof that we can reach to any target we set.”

7.We are the leader within the group companies with our results
Speaking on the results of the company’s investments in Turkey, Sompo Japan Sigorta’s Vice General Manager Shinobu Arimoto said the figures in the first six months of the year pleased the headquarters in Japan.

8.Happy to join an innovative family
New executives of the HDI Sigorta expressed their pleasure of joining an innovative family which puts emphasis on open communication. The joint target of the executives is to take the company to a position where it can lead the industry.

Appointments:
Advertisement and Public Relations Director Eylem Köse Aslan
Vice General Manager of Technical and Damages Ceyhan Hancıoğlu
Legal Director Memet Erdoğan
Insurance Legal Consultancy and Legal Maanger Onur Genco Diz
Actuary in charge of Actuary Department Alper Ünlenen

9.Dubai Group Sigorta wants to grow by expanding its agents
Dubai Group Sigorta’s General Manager Korhan Gürakan said the company has recorded a significant progress in the short period of time since its establishment, adding it will be a company which aims at growth by expanding its agents.

10.Ray Sigorta on track
Ray Sigorta General Manager Levent Şişmanoğlu said the company’s profit in the first half of 2011 has reached to 663,000 lira as a result of new efficiency-focused restructuring of the company and changing portfolio structure.

11.Işık Sigorta General Manager Recep Koçak: Agents in Aegean Region shine
Koçak said following his visit to the agents in the Aegean Region last month that they attach great importance to the Aegean Region where insurance awareness is high and the agents here increase sales by using cross marketing tactics

12.Finans Emeklilik IS AT THE CLIMAX
A team of adventurers working at the Finans Emeklilik has reached the summit of Mount Ağrı following their climb to challenging Mount Erciyes and Mount Hasan in the summers of 2010 and 2011.

13.Abuser also suffers from what he/she has done
Generali Sigorta General Manager Mine Ayhan said someone who abuses the insurance system does not only deal with the legal processes but also included in the list of “people who should not be insured”.

14.ONE LIFE TOO SHORT for someone who discovers the life
Creating important pieces in different branches of art for years, Orhan Alkaya said there are many things he wants to write about or do. “Life is too short to educate yourself and to bring it to the harmony point. Life is too short for someone who discovers the life,” he notes.

15.Employer-contributed contracts increased by 80 percent in a year
The Private Pension System, considered as a second retirement option for the Turkish people for the last eight years, has reached to a fund size of 14 billion lira. Around 2.557 million people in the system invest a part of their salaries to the system. Although the share of the employer-contributed plans is still low, it has increased by 80 percent in the last one year.

16.Results in six months are bad except life segment: Technical loss rises to 10 million lira
The insurance industry recorded a technical loss of 9.9 million lira in all segments except life, according to the figures of Association of the Insurance and Reinsurance Companies of Turkey. Traffic became the segment with highest loss, while life segment recorded technical profit of 94.3 million lira.

17.NART Risk Management Forum 2011
“NART Risk Management Forum 2011” organized by NART Insurance and Reinsurance Brokerage was held in Istanbul on September 19, 2011 for the eighth time. Management of the political risks that came on the agenda recently with the Arab Spring was discussed at the forum titled “Risk Management in the Construction Industry”.

18.Ex-insurer Gülçin Erfigen turns crisis into opportunity in the US
Insurer Ayla Gülçin Erfigen has continued her career in building audit business in the US following the economic crisis in 2001. Becoming successful in her new career in a short time, Erfigen says “one’s homeland is both where he/she is born and make money”, adding she will return Turkey one day.

19.2011 THE YEAR OF DISASTERS
Insuree damages and economic loss caused by natural disasters have exceeded past years in the first nine months of 2011. Damages caused by catastrophic incidents under insurance have already exceeded 70 billion dollars.

20.CONSTRUCTED IN SIX YEARS, COLLAPSED IN 1.5 HOURS, TOTAL DAMAGES STILL UNKNOWN
Attacks on the Twin Towers in the US on September 11, 2011 which turned the country into Armageddon resulted in a financial loss of 2 trillion dollars. Cost of these attacks whose impacts were felt all over the world to the insurance industry is estimated to be between 40 to 55 billion dollars. Although a decade has passed, the value of the total damages is still unknown.

21.Turkey’s first insurance cooperative: KORU SİGORTA
Launching its operations as an insurance cooperative, Koru Sigorta will provide services in all segments except life. Vice General Manager of Koru Sigorta Haşim Altınözlü said the company’s priority within customer profile is cooperatives.

22.SSA hits the industry
A new legislation deals another blow to the insurance industry which has recorded a loss of 205 million lira in six months in traffic insurances. This loss is feared to double with the new legislation allowing the Social Security Agency (SSA) to cut up to 15 percent from traffic insurance premiums for treatment costs.

23.Insurance General-Directorate of the Undersecretary of Treasury: Nobody will suffer from this new system
The Treasury said the new decree will help to calculate the required payments correctly and to register related records in a more healthy way. “Neither the insurance companies nor the SSA will suffer,” it said.

24.TSRŞB Vice General Secretary Mehmet Kalkavan: Completely violates insurance principles
Kalkavan said payment of the treatment costs of the guilty side in the car accidents from traffic insurance violates insurance principles, adding that the traffic insurance covers the surrounding damages.

25.Anadolu Sigorta CEO Mustafa Su: If SSA pays the hospital costs, this may increase trend of not having insurance
Su said, “We believe that covering the treatment costs in the car accidents by SSA without making policy and fault inquiry may contribute to the trend of not having insurance on the consumer side.”

26.Işık Sigorta’s Vice General Manager Muhsin Şen: This can create an additional financial burden of 200 million lira
Şen said the revision will create an additional financial burden more than 200 million lira to the industry. “If a study is made to calculate the treatment costs in AZMM and if the burden in AZMM is subtracted, then there is a possibility to reduce costs,” he said.

27.Insurance training program from TSEV to IT managers
TSEV’s “Insurance Training program for IT Managers”, launched in 2010, continues to attract huge interest.

28.Public wants more information on the private pension system
Although the performance of the BES, launched in Turkey in 2003, is considered to be satisfying, we discussed the Private Pension System this month in the Industrial Coffee Shop. The interviews we conducted showed that some people complain of recording loss due to misinformation on the funds, while some believe it is better to invest in gold at this time.