y l k e INSURANCENews-TR we
WEDNESDAY, MARCH 28, 2012 / ISSUE: 85
Insurance for football players in World Cup matches
Football players will be insured in all of the World Cup elimination matches. International Association of Football Federations (Fédération Internationale de Football Association-FIFA) President Joseph Sepp Blatter saying that clubs and federations should not forget the benefits of players told the following: “From this year on World Cup elimination matches will take place and within this context we also plan to provide a full security. We will introduce a single insurance for the players in all the matches which will be played in line with the international calendar. This insurance practice will be a significant support for the clubs and the players both as well as the national federations. Also there is reform process in front of us.” focushaber.com
Insurance industry put on the brakes in January growing 13.4 percent
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Not securing the cars of Turks
Turkish insurance industry which grew by 13.46 percent in January has decelerated. In the industry where the growth has fallen below the growth rate in premium generation of 21.64 in the same month of previous year, real growth is sustaining. Turkish insurance industry, which entered 2012 with ambiguity resulting from the European credit default crises which started to have its effect felt towards the end of last year and the expectation that the Turkish economy would slow down, decelerated in January. While the industry grew in January by 13.46 percent compared to the same months of the previous year, the real growth rate of the industry refrained from inflation came out as 2.58 percent. The growth rate in January was well below the 21.64 percent growth rate in premium generation in January of last year. Association of Insurance and Reinsurance Companies of Turkey (TSRŞB) has announced figures on premium generation in
Turkish insurance industry regarding January of 2012. According to this the nonlife (elementary) industry grew by 14.68 percent while the premium generation growth was 8.43 percent in life branch. Motor branch locomotive again When the growth of the industry is analyzed on branch basis, it is seen that the locomotive of growth is as always the “motor” branch comprising the total of land vehicles (automobile) and land vehicles liability (traffic) branches. In January of this year automobile branch grew by 20.17 percent while the growth in traffic branch was 23.25 percent. It should be reminded that the collective share the two sectors take from the
total pie is around 30 percent. In automobile branch which grew over 30 percent in the same month of last year, the growth fell by around 10 percent leading the industry to decelerate in the first month of the year. In January of this year, other than motor fire and other natural disasters with 15.97 percent growth and sickness/health branch with 10.74 percent growth attracted attention. The fastest growing branch in January was “security abuses” which increased its premium generation by 1016 percent. But it should be told that the share of the referred branch in total generation is below 1 percent making the effect minimal. Anadolu Sigorta became leader Anadolu Sigorta generating premium of
House insurance opportunity from ERGO and Turk Telekom
It is reported that some companies in Germany were abstaining from securing the cars belonging to Turks. In the shadow report of European Network Against Racism (ENAR) for 2010-2011 it is reported that people of Turkish origin frequently met racist and discriminatory practices when they enter the job market and that per capita living area was an average of 21 square meters for Turks while the per capita living in the country was 43 square meters. In the report where it is reminded that many well educated Turks in Germany returned to Turkey due to the discrimination in the employment market, it is announced that about half of the Turks demanding to buy a house met discrimination and that in security controls made by the police the rate of asking for the ID of the Germans was 43 percent while the same figure rose to 75 percent for Turks and that some insurance companies avoided securing the cars of the Turks.
Turk Telekom is repeating ERGO House Insurance campaign introduced for the first time in 2010 under ‘Nothing Like Home’ concept receiving intense attention. The first 175 thousand Home Advantage package customers of Turk Telekom who apply as of March 21 will have the opportunity to have house insurance from ERGO Sigorta. Within the campaign from which 300 thousand Home Advantage customers benefitted last year, compensation payment exceeding 400 thousand lira have been made by ERGO Sigorta. Within the context of the newly starting campaign of Turk Telekom, the houses of the Home Advantage customers secured by ERGO Sigorta will be secured against fire, robbery, thunderbolt, explosion and internal flooding; and the damages of Home Advantage customers who meet such situations will be compensated in line with the provision limit of the house insurance. Within the coverage of the house insurance that is valid for 12 months, the cost of guarantees to be paid to the insured party will be 5 thousand lira for fire, thunderbolt and explosion; 500 lira for burglary and 500 lira for internal flooding.
Per capita spending is 1900 euro for insurance
While per capita insurance expenditure in CEA (European Insurance and Reinsurance Federation) countries was announced as 1879 euro in 2010, it was announced that 1150 euro slice of this came from life and 729 euro out of this came from non-life insurances. While Insurance expenditures varied largely among countries, the country with the lowest level of insurance spending was Romania with 93 euro and the highest spending country is Switzerland with an average of 5124 euro. In life insurance, Scandinavian countries are at high levels. It Is seen that non-life market reigns among Western European countries.
Companies in energy industry are face risk
Will have his tongue insured for 1.5 million dollar
In United Kingdom, Keith Fisher, a butcher preparing to head the jury of national ham contest announced that he would be having the taste buds on his tongue be insured in return for 1.5 million dollar. According to the article of Independent newspaper, Keith Fisher said “I have reached a very admirable place thanks to my ability to differentiate the difference of the hams of various producers. This ability of mine, is very important for me to make a choice among the best.” Hürriyet
Premium production of the first 10 companies in life branch (*)
Company name Premium production (TRY) Ziraat Hayat ve Emek. 806.001.560 Anadolu Hayat Emek. 347.603.291 Garanti Emeklilik 240.484.536 Halk Hayat ve Emek. 183.792.521 Yapı Kredi Emeklilik 172.050.855 Vakıf Emeklilik 126.616.310 Finans Emeklilik 124.633.271 AvivaSA Emeklilik 121.631.827 Deniz Emeklilik 91.652.056 Allianz Hayat ve Emek. 83.427.639 First 10 company 2.297.893.865 (*) End of December
Company name
Market share (%) 30.01 12.94 8.95 6.84 6.41 4.71 4.64 4.53 3.41 3.11 85.56
Performance of PPS Number of participants
Aegon Emeklilik ve Hayat 52.649 Allianz Hayat ve Emeklilik 62.681 Anadolu Hayat Emeklilik 585.183 Avivasa Emeklilik ve Hayat 432.104 Axa Hayat ve Emeklilik 259 BNP Paribas Cardif Emeklilik 90.168 Deniz Emeklilik ve Hayat 58.525 Ergo Emeklilik ve Hayat 25.533 Finans Emeklilik ve Hayat 64.348 Garanti Emeklilik ve Hayat 548.692 Groupama Emeklilik 82.342 Ing Emeklilik 176.161 Vakıf Emeklilik 206.824 Yapı Kredi Emeklilik 306.328 Ziraat Hayat ve Emeklilik 9.857 Total 2.701.654
PPS Fund amount (TRY)
TSRŞB
Total invested amount (TRY)
102.145.760 98.000.428 455.772.588 445.745.976 2.819.297.046 2.734.852.904 2.633.075.663 2.547.844.850 304.341 301.006 402.607.184 391.264.934 104.431.904 102.168.132 98.972.520 97.159.260 115.383.818 111.183.414 2.222.630.873 2.165.564.977 507.641.300 498.597.493 701.982.895 682.066.344 801.539.789 790.205.253 2.117.472.877 2.040.513.525 67.146.947 67.060.080 13.150.405.506 12.772.528.576 EGM 22.03.2012
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230.5 million lira in January on a growth of 30.43 percent compared to the same period of previous year 2012 has overtaken leadership in non-life branch. Anadolu is followed by Axa Sigorta which generated 197.4 million lira premium on a growth of 14.71 percent in January. It should be reminded that Axa has been the leader for the last 4 years in terms of the whole year. These two companies are followed by Aksigorta which generated premium of 6.66 percent on a growth of 6.66 percent in the first month of the year. In non-life, Anadolu Sigorta has a market share of 12.96 percent while Axa has 11.1 percent and Aksigorta 8.70 percent. ALP SÜER/SİGORTALI
TCIP paid 61 million lira for Van
Appearing in the award ceremony of ‘Cities Competing, Insured Parties Winning’ project organized by Turkish Catastrophe Insurance Pool (TCIP), Deputy Prime Minister Ali Babacan said that payments totaling 61 million lira had been made by Turkish Catastrophe Insurance Pool (TCIP) after Van Earthquake and that this figure was expected to rise to 80 million lira in total. Telling that TCIP had received about 8 thousand damage reports after Van earthquake Babacan said that the total
amount of payment made by the whole insurance industry for Van was 150 million lira. Ali Babacan said that there was a loss of 380 billion dollar globally resulting from natural disasters and that 105 billion of this was compensated by insurance industry. Babacan, telling that 96 percent of Turkish land carried earthquake risk at various levels but insurance awareness had not reached desired levels in spite of this, said that education and social consciousness building activities were important as to grow this consciousness.
Risk management has become a growing area of activity in our country. Nejat Tolunay, the country manager of AON Turkey which has been serving in our country in risk management since 1995 says that the importance of risk management will grow in pulp and petrochemicals industries in the coming days. Telling that they had focused on energy and construction sectors in risk management Tolunay says that the risks of the companies in the energy industry were risks which the insurance industry did not perceive well. Tolunay makes a warning that these companies should work with companies focused on risk management. Tolunay says “In construction industry we are focusing on infrastructure and big superstructure projects rather than house construction. This subject is much more complicated than energy and we are one of the very few companies with know how in this area globally.” Tolunay says that they as AON in Turkey had transferred themselves to risk management consultancy structure from insurance in terms of both internal dynamics and perception from outside. Tolunay says “The jobs the company performs and the subjects that take place on its agenda are mostly related to risk management, risk perception, measurement and companies learning what more they could do about their risks other than being insured.”
The difference of Koru lies in the earnings of its partners Emphasizing that Koru Sigorta was providing the same services and the same products with other insurance companies, Koru Sigorta Deputy General Manager Doğramacı pointed out that the difference appeared in the earnings of partners. Telling “In insurance companies which perform as incorporated companies, the premiums obtained from insured parties, if supported by a technical structure to provide profit and a balance sheet profit appears, this amount of profit is paid to the persons who are the owners of the company as dividend” Doğramacı said “In our company which has been established as a cooperative, the insured
parties who are at the same time the partners of the company receive their share of the difference between the income and the expenses. Policy holders who are partner of our company should act embracing the business and act likewise. Better service will be provided in this manner.” Number of partners over 13,400 Koru Sigorta sees 2012 which is announced by United Nations as ‘International Year of Cooperatives’ as a significant opportunity. Telling that they had exceeded 13,600 in the number of partners in a short time, Doğramacı said that the principles and values of cooperative operation
which is based on the comprehension of working together has been renovated changed in time according to changing requirements and conditions. Doğramacı, “In Europe there are around 163 million cooperative partners in around 250 thousand cooperatives and through these cooperatives 5.4 million people are provided with employment opportunity. In our country as of the end of 2011, there are 88 thousand cooperatives and 8.4 million cooperative partners. It is significant decision supporting our job that United Nations General Assembly announced 2012 as ‘International Cooperatives Year’ emphasizing the contribution of cooperatives
in development, reduction of poverty and creating employment.” 430 thousand employees insured Doğramacı said “2012 will be the year of meeting the cooperatives with which we want to build solidarity. A considerable start has been made and Personal Accident insurance provision has been provided to over 430 thousand employees registered to KamuSen. Our objective is to create products for the public which are more appropriate in economic terms and completely targeting individuals with the technical possibilities we have around cooperative insurance.” Yakup SAYAR/DÜNYA
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