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Inflation, climate change challenge insurance industry

Posted On: Nov. 29, 2022 9:09 AM CST


Coskun Golpinar, general manager at Turkey-based insurer Doga Sigorta AS, said the Turkish insurance industry is likely to face challenges in the next few years as high inflation increases claims costs, Middle East Insurance Review reported citing SigortaMedya. Mr. Golpinar also expects reinsurance rates to increase, especially excess of loss arrangements covering fire and climate change risks.