"While Turkiye is the 19th largest economy in the world, the insurance industry ranks 39th in the world. As insurers, our goal is to bring our country to a well-deserved place, so we are implementing many projects in this area," the chairman of the Insurance Association of Turkiye Atilla Benli said at the signing ceremony of the integration protocol on "Green Card" systems between the Compulsory Insurance Bureau of Azerbaijan and the Turkish Motor Insurers' Bureau, Report informs.
Benli said he supported the exchange of information in this direction and expressed readiness for cooperation.
According to him, there are currently 67 companies active in the insurance and pension sector in Turkiye. Of them, 42 are non-life, 15 are life and pension.
"At present, the active collection has exceeded 335 billion Turkish liras. Last year, despite the severe conditions of the pandemic, there was an increase in the insurance sector. Insurance premiums in the fourth quarter of 2021 were generally higher than in 2020," the chairman said.
He noted that despite the current positive figures, the insurance market in Turkiye is not at the desired level.