Turkey – Insurers affected by 2nd Major Storm
Saturday, 07 29 2017, Category: Insurance and Reinsurance, Country: Turkey
The Borsa Istanbul Insurance Sector Index dropped as much as 2.5 percent on Friday after a brief but ferocious storm in Istanbul on Thursday showered the city with hail as large as golf balls, shattering windows, denting vehicles and damaging buildings.
The insurance sector decline was its biggest since June 15 and the largest among the Borsa Istanbul sub-indexes on the day. Anadolu Sigorta, the largest insurance company by market value, dropped as much as 6.8 percent. Ak Sigorta, a unit of lender Akbank TAS, plunged 7.5 percent.
Source: Insurance Journal