Turkey Insurance Q1 2019
Turkey's insurance industry offers enormous growth potential. The country is home to a large population and thenumber of households falling into key higher income brackets is on the rise, as employment and income rates improve, which willmake insurance more affordable for consumers. Several major multinationals have made a foray into the market, alongside acompetitive range of domestic carriers, and this is boosting the range of products available and making insurance more accessiblevia new and expanded distribution channels. However, there are also significant challenges in light of high unemployment rates, adeteriorating investment environment and persistently high inflation rates.
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