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OYAK Grup Sigorta ve Reasürans Brokerliği acquired Lloyd’s license

OYAK Grup Sigorta ve Reasürans Brokerliği, a leading brand in the insurance industry, has acquired its license to operate as an authorized broker of Lloyd’s.

OYAK Grup Sigorta ve Reasürans Brokerliği, an OYAK Finance Group company, acquired its license to operate as an authorized broker of Lloyd’s, the world's longest established and leading insurance and reinsurance market, as of April 2020.

Among nearly 300,000 brokers operating in global markets to date, only 335 brokers have a Lloyd's license. With the license acquired, OYAK Grup Sigorta ve Reasürans Brokerliği has taken its place among the brokers, which this powerful organization rarely accepts, by meeting Lloyd's criteria. 

In addition to gaining direct access to a unique global insurance expertise pool as a Lloyd’s authorized broker, OYAK Grup Sigorta ve Reasürans Brokerliği also strengthened its position among the global players.

OYAK Grup Sigorta ve Reasürans Brokerliği A.Ş. General Manager Sertan İPEK stated that they are pleased to be a new member of this very important structure which is desired by a number of brokering companies and said, “As OYAK Grup Sigorta ve Reasürans Brokerliği, which entered the insurance industry with firm steps in 2017, we continue our efforts to become the best and most reliable insurance and reinsurance brokerage company in the sector. With this membership, we have further strengthened our presence among the global players. In our acceptance with Lloyd’s, our group’s brand value, our robust and long history, and our investments in Turkey and worldwide were effective. The successes achieved by OYAK Grup Sigorta ve Reasürans Brokerliği within a short time, our professional management staff and team, our business plan and fulfillment of financial criteria have also brought us to the fore in this process. The support of insurance companies within Lloyd’s to our application helped us to become a new member of this valuable structure.”

Lloyd’s operates in more than 200 insurance branches with 330 years of insurance experience and has more than 80 unions, 54 managing agents and 335 brokers. As of 2019, it has a premium volume of 35.9 billion pounds and a profit of 2.5 billion pounds before tax.

Lloyd’s is rated by globally recognized international rating agencies such as Standard & Poor’s, AM Best and Fitch with a grade A and above for meeting the financial commitments.