HDI Sigorta A.Ş., Turkey

keyvisual

Market position

HDI Sigorta A.Ş. (HDI/TR) (former İHLAS Sigorta) is a property/casualty insurer which was established in 1995 by the İhlas Holding. The company provides insurance coverage with an emphasis on motor business via a large distribution network with exclusive and independent agents throughout Turkey and has in addition a strong presence in the most important regions via 6 regional offices at its disposal.

With a significant growth potential the company offers a far-reaching access to an expanding and most promising Turkish market.

Key figures

IFRS

 

2009

2008

+/- %

Gross written premium

 EUR m

80.9

79.5

1.8

Retention

%

55.8

53.7

 

Net written premium

EUR m

45.1

42.6

5.8

Net premium earned

EUR m

41.1

46.9

-12.3

Combined ratio

%

129.7

125.7

 

Net investment income

EUR m

3.1

2.6

21.5

Operating profit (EBIT)

EUR m

-9.9

-8.6

14.5

Net profit (after tax)

EUR m

-8.2

-7.0

17.6

Equity

EUR m

17.2

14.4

19.6

Return on equity after tax

%

-47.8

-48.6

 

Investments

EUR m

44.8

32.3

38.7

Total assets

EUR m

133.1

103.5

28.5

Number of contracts

thousand pcs.

785

637

23.1

Staff (31 Dec.)

 

196

163

20.2
*
Average exchange rate per 31 Dec. 2009 2.1678 (1.9038) TRY/EUR; period-end exchange rate 2.1694 (2.152) TRY/EUR


History

1995
Foundation of İhlas Sigorta A.Ş. by the İhlas Holding in Turkey.

2006
Acquisition of İhlas Sigorta A.Ş. through HDI International Holding AG and renaming as HDI Sigorta A.Ş.

top print