Sompo Sigorta General Manager Fahri UĞUR: Newly established Insurance Companies will harm the sector

Sompo Sigorta General Manager Fahri Uğur stated that the adequacy of the capital and equity of newly established companies should be checked. Fahri Uğur said that the most important problem in the insurance sector is the free tariff and companies with insufficient capital. Stating that there should be a capital control system in this regard, Uğur drew attention to the need to adapt to full competition and free market conditions.

WILL AFFECT THE ENTIRE SECTOR

Fahri Uğur stated that many insurance companies have been established today and said, "The establishment of new companies in a free competitive environment is positive, but it is necessary to check very well whether the capital and equity of these companies are sufficient. The fact that some of the established companies do not have sufficient capital to cover the risks they take will increase the risk of financial difficulties in the future and this will negatively affect the entire insurance sector."

RAPID CHANGE COMPARED TO THE PAST

Fahri Uğur emphasized that there has been a very rapid change in the insurance sector compared to the past and that insurance companies should keep pace with this speed, and said, "After making preparations to adapt to different conditions, the issue we need to focus on is to understand the needs of the customer and meet them. We will differentiate from the general sector by transforming into a company that best understands the needs of customers and offers the best service to them and our business partners."

Source: Sigortagazetesi.com