NEWS

Nildem Global Sigorta wind in the Northern Iraq

MAPFRE GENEL SIGORTA took a new step to carry out insurance activity in the Northern Iraq.

MAPFRE GENEL SIGORTA, which supported opening of NGI Erbil Office, plans to develop the insurance activities in this region in the following period.

MAPFRE GENEL SIGORTA made a new move to carry out insurance activity in the Northern Iraq. NGI Nildem Global Sigorta ve Reasurans Brokerligi opened a representation office in the city of Erbil of the Northern Iraq with the support of MAPFRE GENEL SIGORTA. The Turkish businessmen making business in Iraq, Turkish Consul Aydin Selcen and consuls of other countries participated in the reception organized in the ball hall of Rotana Hotel/Erbil-Iraq under the sponsorship of MAPFRE GENEL SIGORTA due to the opening. Volkan Babur, Vice General Manager of MAPFRE GENEL SIGORTA, who spoke in the opening reception, stated that the Northern Iraq is an extremely dynamic country. Babur, who expressed that he faces new developments and change whenever he visits Erbil, said that they are happy for providing insurance service in the Northern Iraq.

37 thousand employees in 40 countries; Babur, who provided information about MAPFRE Group and MAPFRE GENEL SIGORTA to the participants of the reception, said: “MAPFRE is an international insurance group headquartered in Spain and providing service with its nearly 37 thousand employees in 40 countries of the world. MAPFRE, which produced approximately 17 billion Euros of premium in 2010, obtained 933.5 million Euros of net profit”. Volkan Babur, who expressed that MAPFRE is one of the top 10 non-life companies of Europe, provided the participants with information about the risk management and risk acceptance understanding of Mapfre Group. Babur, who also provided information about the Turkish insurance market and MAPFRE GENEL SIGORTA in his speech, told: “Genel Sigorta, founded in 1948, participated in Cukurova Group, which is one of the important industrial firms of Turkey, in 1975. Mapfre Group, which sold 80 percent of the company shares in 2007, increased its share percentage to 99.75 percent at the end of 2010”. “WE ARE THE SECOND COMPANY IN TERMS OF PROFITABILITY”: Babur, who emphasized that MAPFRE GENEL SIGORTA has AA rating of Fitch in terms of financial power, said: “MAPFRE GENEL SIGORTA was the 10^th company with the highest production on the non-life insurance market with its premium production amounting to 412 million Liras in 2010. Our company is the second company in the sector in terms of net profit/premium ratio and technical profit/premium ratio and the fourth company in the sector in terms of profit amount.”

20-YEAR EXPERIENCE

Nildem Global Sigorta ve Reasurans Brokerligi Board Chairman Cigdem Ergelen, who stated that NGI- Nildem Global Sigorta ve Reasurans Brokerligi is a company founded in Istanbul, told: “Our company provides consultancy and insurance service to its domestic and foreign customers with its 20-year experience in its sector. Our principle is to analyze risks of our customers in all branches and meet their insurance requirements in full, as soon as possible and at the most appropriate conditions”. Ergelen, who expressed that as NGI- Nildem Global Sigorta ve Reasurans Brokerligi, they provide service in all insurance branches, in particular fire, engineering, freight and liability insurances, said: “We cooperate with all leading insurance companies of Turkey to meet insurance requirement of our customers in the most appropriate manner. In addition, we may easily find placement on the foreign reinsurance markets (especially British Lloyds and other European reinsurance markets) for our customer for the risks which may not be covered by us in Turkey.”

MAPFRE GENEL SIGORTA-NGI COOPERATION

Ergelen, who stated that they opened a branch in Erbil to provide insurance and consultancy service to domestic and foreign persons and firms in the Northern Iraq as NGI-Nildem Global Sigorta ve Reasurans Brokerligi in cooperation with MAPFRE GENEL SIGORTA, said: “Thus we aim at analyzing risks of the individuals and investments in the Northern Iraq, which develops very fast and successfully and meet their insurance requirements in full, as soon as possible and on the most favorable conditions. We hope to be successful in the insurance and reinsurance brokerage activities we shall carry out in the Northern Iraq via our Erbil liaison office and thus to be beneficial to the entire sector”.

Thus, it is intended to analyze risks of persons and investments in the Northern Iraq, which develops very fast and successfully, in all branches and meet insurance requirements fully, as soon as possible and on the most favorable conditions.