Page 8 - Turkinsurance Digital Magazine

8 at a glance

MAPFRE Group reached its revenue to 173 million Euro by an increase of 37%

corporate fixed income, 6.6% is with equity and the rest is cash
or other investments.

Total premium production of the Turkish insurance sector
reached 25 billion 292 million TL with an increase of 15.8%
when compared to the same period of the previous year. While
premium production in the non-life insurance branch reached
21 billion 420 million TL with an increase of 21% compared
to the previous year, premium production in life insurance was
3 billion 871 million TL with a decrease of 6%.
MAPFRE Sigorta grew over MOD branch sector average

MAPFRE Group operating in insurance, reassurance, support While the sector grew by 29.7% in the first three months of
services, and financial service sectors across the globe announced 2021, MAPFRE Sigorta grew over sector levels by 33.1%.
financial results regarding the first quarter of 2021. MAPFRE’s While MAPFRE Sigorta increased its consolidated income by
referable revenue reached 173 million euros with an increase of 10.2% and premium production by 2.6% compared to the
36.7% compared to the same period of the previous year. This same period of the previous year in the first quarter of 2021,
increase obtained in the first quarter has key importance as it has it went over its targets by increasing the net profit to 13.8 mil-
taken place despite approximately 109 million Euro insurance lion TL. The capital adequacy ratio of the company increased
payment within this period and the scope of COVID-19. to 128.3% as of March 2021 as a result of a powerful fi-
nancial statement and prudent investments. Growing by 62%
While MAPFRE Group’s total revenue between January and compared to the previous year as of March in Complementary
March reached 7.3 billion Euro (-0,4%) and insurance premi- Health Insurance product, MAPFRE Sigorta ranked 4th in to-
ums reached 5.9 billion Euro, it is observed that the total amount tal premium production in health branch and also ranked 4th
decreased by 3.3% compared to the same period of the previous with a growth of 41.3% in engineering branch. The company
year. Besides, insurance premiums increased de facto by 3.2% grew by 32.8% also in the marine branch.
when calculated with fixed exchange rates. As there is not any
important decrease in automobile branch and any significant dis- Stefan Jensen CEO of MAPFRE Sigorta talked about the fi-
aster claim is not received (the last huge earthquake took place nancial results of the first quarter of 2021 and said: “While
in Puerto Rico in 2020), the compound ratio reached 94.3% whole the world was fighting against COVID-19, as MAPFRE
with an increase of six percent compared to the same quarter Sigorta, we showed a great performance in the first three
of the previous year (before COVID). As of the end of March months of 2021. We succeeded in increasing our premium
2021, Group’s equities reached 8.3 billion Euro, while total as- production and income compared to the same period of the
sets are 69.97 billion Euro. The total investment of MAPFRE previous year. We are pleased by these results. I would like to
is 44.59 billion euros as of the end of March. 51.35% of these thank our all business partners and employees who empowered
investments are with absolute constant income, 18.2% is with MAPFRE by working devotedly during this period.”

Education Grant by Aksigorta in the Memory of İlham Saner

ious educational program with the cooperation of the Insurance
Association of Turkey (TSEV). Within the scope of cooperation,
10 people who are not employed yet, graduated from insurance
programs in 2021, and aim for a career in the insurance sector
will be admitted as 100% beneficiary students to TSEV’s Basic
Insurance Educational Program.
Application deadline: September 10, 2021

The candidates should send a letter of intent explaining the rea-
son why they want to receive this education, transcript, and CV in
PDF format to egitim@tsev.org.tr for application. The applica-
Aksigorta will provide an education grant in the memory of İl- tion to be made until 5:00 PM on Friday, 10th of September will
ham Saner, founding first general manager. Education grant will be evaluated by TSEV and an interview will be conducted with the
be provided to 10 new graduates for the 39th term of the Basic students who are grant candidates.
Insurance Educational Program which is TSEV’s most prestig-
For detailed information, you can visit www.tsev.org.tr.