UK-based insurance company Howden is preparing to establish a regional base in Turkiye

Howden Turkiye Chairman Atinc Yilmaz said, “We trust Turkiye, we saw that we made the investment and made the right decision.”

Howden Turkiye Chairman Atinc Yilmaz stated that they are working to establish a new center in Turkiye as a company and said, “When this is the center, the Caucasus, Turkic republics and Commonwealth of Independent States countries will be managed from here.”

In his assessment to the AA correspondent regarding the activities of their UK-based companies in Turkiye, Yilmaz said that they have been operating for 30 years as one of the largest insurance brokerage firms in the world and that they manage a premium volume of $30 billion at the global level.

Pointing out that they operate in more than 100 countries around the world, Yilmaz said:

“We came to Turkiye with a big breakthrough in 2018. We saw the opportunity in Turkiye and thought it would be to our advantage to invest. We currently have more than 200 employees and 4 offices in Turkiye. We are opening the 5th one in Gaziantep now. Our field of activity is commercial corporate risks. Our portfolio has it all, from small to giant companies. We work for the energy, transportation, production, construction, infrastructure sectors, and for the works of large contractors in Turkiye abroad.”

Noting that Turkiye has differentiated very positively during the 5 years they have been operating, Yilmaz said, “This also attracted the attention of our center. Turkiye is a dynamic country. Here, we are working to see if we can create a new hub. When this is the center, the Caucasus, Turkic republics and Commonwealth of Independent States countries will be governed from here.”

“IFM is not inferior to those in the world”

Explaining that they will separate Turkiye from the Dubai headquarters of the company he is currently affiliated with, Yilmaz continued his words as follows:

“Turkiye will be based in Istanbul, and other countries will be in its orbit. We are also making the feasibility of it. The maturity and greatness that Turkiye has come to have made this possible. When we first started, it was very small, it was tied to another region, Turkiye has now brought it to this position. We trust Turkiye, we saw that we made the investment and made the right decision. We see that the future is a much better growth opportunity for us.”

Stating that they are following the Istanbul Financial Center (IFC) Project with enthusiasm as a company, Yilmaz said, “We also know the example in Dubai. Establishing a financial center has transformed Dubai. It contributed to the Middle East region becoming a financial center of attraction. The mission of IFC in Istanbul is very similar to those in the world. Istanbul is not inferior to those there. It can create a center of attraction in itself.”

Demand for insurance increased after the earthquake

Explaining that there are strategies to expand to cities in Turkiye, Yilmaz stated that he went to the region by chance before the earthquakes in Kahramanmaras and received requests from the industrial facilities there.

Noting that they quickly took up an office upon the demands from Gaziantep and that they would start operating in a short time, Yilmaz pointed out that the earthquake damage was large enough for the insurance industry to handle.

Yilmaz added that after the earthquake, there was an increase of 3-4 points in the demand for the insurance sector, especially for industrial facilities.

Source: AA / Prepared by Irem Yildiz

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