STATISTICS:

TURKEY: Insurers to lose nearly USD 800 million due to ceiling on motor premium

The application of a ceiling on premiums for compulsory motor third-party liability (MTPL) insurance would cause insurers to lose TRY3 billion (USD 792 million) a year, according to a senior insurance executive.

The ceiling, implemented with effect from 12 April this year, is pulling down the average insurance premium by around 30%, Allianz Turkey CEO, Ms Aylin Somersan Coqui, told the news organisation Anadolu Agency. Read the full story

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