March 2021

Stressing Türkiye's importance in terms of renewable energy resources, Ms. Almula Aslan, Deputy General Manager Responsible for Reinsurance and Business Development at OYAK Group Insurance and Reinsurance Brokerage Inc., put an emphasis on the fact that the firm offers wide coverage for renewable energy projects so as to cover them starting from the construction/erection phase, including the operation period.  Highlighting that the firm works with local insurance companies in the sector as well as reinsurance companies in global markets, Aslan said: “Combining global power and local knowledge, making an accurate comparison between precedents, finding new markets and capacities, and developing new products and services enables us to support our clients with optimum terms and alternative solutions. The areas for which we provide coverage include Hydroelectric Power Plants (HEPP), Solar Energy Power Plants (SEPP), Wind Power Plants (WPP), Geothermal Power Plants and Bio-Thermal Power Plants”. 

The role of the insurance sector will increase

Noting that they expect the role of the insurance sector to increase further in coming years with the rise of relevant investments and insurance demands, Aslan said:  It is foreseen that the insurance penetration shall increase in this field as a result of the demands met with the alternative solutions and new products provided by the global and the local insurance companies.

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