9-Months-Old Strategy and Production Meeting

10 Mart 2017 Cuma

Baksaş Sigorta has participated with General Director Bahadır Zengin in the meeting held on 26.09.2017 under the leadership of Mr. Haluk Dinçer, Chairman of the Executive Board of Aksigorta and where the insurance sector was the main topic.

The expectations for the new period characterized as perfect storm has been summarized as following, while 2017 was regarded as a year that many changes have been experienced for the whole insurance sector during the meeting:

a) Decreasing inflation and interest rates,
b) Market structure divided for 33 insurance companies and approximately 18 intermediary firms,
c) The loss being stated by over 50% of the sector as of 2017 as a result of the uncontrolled price competition.

According to the information that Haluk Dinçer gave in the meeting, it was stated that the insurance companies will make a loss from the insurance practices and not be able to cover the loss from financial incomes and this loss will cause their partners, executive boards and especially the Treasury to take additional precautions. The Notice including the regulation especially about the traffic insurance and published in the midst of 2017 by the Treasury is regarded as the first signal of this situation. Supporting the idea that "powerful and locked companies and intermediaries with high goals, the capital and strategies of which are realistic and consistent" will grow stronger and come out more and more, Baksaş Sigorta General Director Bahadır Zengin emphasizes that they are working hard as Baksaş Sigorta to achieve 2025 goal in accordance with the group vision and they have entered the last quarter of 2017 full of hope.

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