Insurance giant Aegon eyes end of the crisis
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Hürriyet Daily News
Oluşturulma Tarihi: Ocak 22, 2009 00:00
ISTANBUL - Turkey's insurance market is at the beginning of a growth path and its young population is a great advantage, said a top executive of a leading global insurance company.
Speaking at an Istanbul meeting Tuesday evening, titled "Turkey's Economy Across the Global Financial Crisis," Alex Wynaendts, chief executive of Dutch insurer Aegon, which acquired Turkey's Ankara Emeklilik in October, said the crisis would deepen, but "will not last forever."
"Markets everywhere, including Turkey, are distressed by the global crisis. There is a negative atmosphere in terms of balance sheets," said Wynaendts.
"In order to secure our position in global insurance market, we had to take measures, so we have decided to receive government support as well as reducing the costs," he continued.
Turkey is "a magnet" for the insurance sector, said Wynaendts. "There is a future in Turkey's market and as the crisis will end one day, we are looking forward to turning the crisis into an opportunity."
"Markets everywhere, including Turkey, are distressed by the global crisis. There is a negative atmosphere in terms of balance sheets," said Wynaendts.
"In order to secure our position in global insurance market, we had to take measures, so we have decided to receive government support as well as reducing the costs," he continued.
Turkey is "a magnet" for the insurance sector, said Wynaendts. "There is a future in Turkey's market and as the crisis will end one day, we are looking forward to turning the crisis into an opportunity."