Aksigorta announced the first half results for 2017. The company had expanded its premium volume by 17 percent at the end of 2016 by reaching 1.9 billion TL over the same period of previous year; and has reached 1.118 billion TL at the end of the first half of 2017. In between January and June 2017, non-life segment of Turkish insurance market grew by 7 percent, while Aksigorta increased its non-life premiums by 15 percent with an outstanding performance.
The company reached its targets in motor lines, and grew over market averages in Fire, General Losses, Marine and Health Insurance lines.
Aksigorta continued to set its portfolio on a more profitable balance in the second quarter; and increased the share of non-auto lines up to 52 percent. With a technical profit of 77 million TL; Aksigorta’s compound ratio (another indicator of technical profitability) improved by 14 points over the same period of last year and stood at 98 percent. Its loss ratio was 68 percent with an improvement of 12 points over the same period of last year; which was the main reason behind the better technical results. The company announced 59 million TL profit for the period, up by more than 556 percent over the same period of last year; and performed outstandingly by growing over market averages in Personal Accident, Marine and Health Insurance Lines prioritized for the bank channel which was determined as its main growth area. Aksigorta increased its return on equity ratio up to 25% as the end of June 2017. According to the financial tables prepared based on International Financial Reporting Standards, the company reached a net profit of 74 million TL. Thanks to its successful investment policies, total portfolio size of Aksigorta reached 1.3 billion TL; and the company continued to stand out in its market with a transparent and robust balance sheet.
Uğur Gülen, General Manager of Aksigorta, who said that they determined all their strategies by focusing more and more on their customers with their new and innovative products and services, added as follows:
“As a profitable company with a robust capital structure, and transparent financials and balance sheet; we will continue through the rest of 2017 to set up a balanced portfolio, maintain our market share by growing over market averages, accelerate our growth in bank channel, improve the portfolio profitability of our agency channel, work for transformation projects, invest in digital transformation and innovation as a part of our customer-oriented service approach, and increase our market value and stock performance.”