Anadolu Sigorta General Manager Mehmet Şencan shared the coming period targets of the Company that closed a successful year in 2019. Stating that insurance awareness will remain a priority for the company also in the year ahead, Mr. Şencan said “To such a backdrop, competition will not be our priority; we consider collaborations to be of much higher importance. At present, what we possess is much more valuable than ever before”. Underlining that profitability will be in the foreground in 2020, Mr. Şencan spelled out their success criteria as correct pricing, correct claims management, and therefore, perfecting business processes.

Set to celebrate its 95th anniversary in 2020, Anadolu Sigorta will move forward with the target of covering all institutions and individuals under assurance, while giving priority to collaborations and working to raise increased awareness of insurance in the period ahead. In the press conference participated also by the Company’s 1st Deputy Chief Executive Filiz Tiryakioğlu and CFO Fatih Gören, Anadolu Sigorta General Manager Mehmet Şencan disclosed the Company’s targets for the coming period.

Having taken over office in September, Mr. Şencan expressed that he spent a substantial portion of his career in the field and described his management strategy as follows: “I believe in the power of the field. This will be my perspective also during my service at Anadolu Sigorta. For many years now, failure to raise the ratio of insurance ownership to the desired level in Turkey has been a constant topic. I can comfortably say that to such a backdrop, competition will not be my priority; I consider collaborations to be of much higher importance. At present, what we possess is more valuable than ever before. Hence, we need to increase the degree of our cooperation with the public sector, peer companies, agencies and all our shareholders”.

Reminding that the mission of Anadolu Sigorta, being a company offering service in all insurance branches for 95 years, is to increase insurance awareness in Turkey, Mr. Şencan added, “Also in the year ahead, we will be targeting to cover all institutions and our fellow citizens under assurance. Looking at Anadolu Sigorta’s figures in 2019, we see that we have helped put the wheels back in action and we acted as the lifeline of employers with the claims we paid to over 14 thousand business places. Actually, this epitomizes the great importance insurance has with respect to the sustainability of economy”.

“Success criteria will be perfecting business processes”

Commenting on the industry, Mehmet Şencan pointed out that a decline is likely in investment income in parallel with the decreased interest rates in 2020. Mr. Şencan continued, “This will bring profitability derived on insurance business to the forefront, which means that the success criteria will be correct pricing, good claims management and to this end, perfecting business processes. Metaphorically, our insurance understanding is like running a marathon. We are not an insurance company that acts according to the conjuncture. For 95 years, we have been an insurance company that remains true to its principles and makes sustainability the basis of its operations. Our most important distinctive characteristic that sets our Company apart from the other players is the homogenous distribution of our premium production. We do not let our policyholders down no matter what the circumstances may be. We keep offering service in all branches they may need.”

“We closed 2019 with a balanced growth, avoiding price competition”

Sharing information about the Company’s financial performance, Anadolu Sigorta CFO Fatih Gören stated that, in 2019, they avoided price competition, and targeted to achieve a balanced growth and preserve the market share. Touching upon the significance of sustainable profitability, Mr. Gören told that Anadolu Sigorta has carried on with its stable growth ever since its incorporation, devised its strategies and plans with a long-term perspective, and took pains to be Turkey’s Insurer.

Mr. Gören mentioned that the Company registered around 4% growth in real terms as at the end of November, reaching a production figure of TL 5.7 billion, and successfully enlarged its balance sheet, and in turn, its portfolio. Saying that the investment portfolio of Anadolu Sigorta grew by 18% to go up from TL 4.7 billion to TL 5.5 million in the nine months to September 2019, Mr. Gören added: “This way, we derived maximum benefit on the high investment income environment. Reaching an RoE of 22.4% on an unconsolidated basis in the first 9 months, our Company outdid the sector average of 20.4%, while achieving 27.3% RoE (consolidated). Having reached total assets worth TL 8.9 billion in the first three quarters of 2019, our Company augmented its net profit to TL 310 million, up by 33% year-over-year.”

“What we do can be summed up as Never Lose and Never Let Lose”

Telling that Anadolu Sigorta has been striving since ever since its foundation to contribute value to the land where it has taken its roots, Anadolu Sigorta 1st Deputy Chief Filiz Tiryakioğlu said, “Actually, what we do can be summed up as Never Lose and Never Let Lose. Pass on that which is valuable to the future.” Ms. Tiryakioğlu stated that Bir Usta Bin Usta Project (One Master, Thousand Masters) that completed its 10th year in 2019 with this perspective is compatible with the Company’s DNA, and described the success of the project as follows: “Bir Usta Bin Usta (One Master, Thousand Masters) is a project that we all truly admired and one that has graced our country with the international recognition it has gained. There are certain shared criteria that are recognized internationally to measure the success of corporate social responsibility projects. Among those, the most captivating one for me is the one measuring the alignment of the project with the corporate culture. I believe that its compatibility with our corporate culture has been the key factor in the numerous awards conferred upon Bir Usta Bin Usta.”

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