Page 12 - Turkinsurance Digital Magazine

12 at a glance

Groundbreaking “Sustainability Guide” for the Insurance Sector from the Insurance
Association of Türkiye (TSB)

A significant guide has been published to lead the sustain-
ability transformation of Türkiye’s insurance sector. The
Insurance Association of Türkiye (TSB) has released the
“Sustainability Guide for the Insurance Sector” to acceler-
ate the industry’s transformation in the areas of environmen-
tal, social, and governance (ESG) practices. Prepared by the
Union’s experts and the Green Transformation Committee,
the guide outlines how the sector should be shaped within
the framework of the “Core Sustainability Principles of
the Insurance Sector.” Serving as a roadmap for insurance
companies to strengthen their strategies within the ESG
framework, the guide covers critical topics such as climate
change risks, green financing models, sustainable insurance
products, responsible investment strategies, and corporate
governance principles. The Sustainability Guide aims to sup- Global Commitments: Steps in line with the Paris Agree-
port the sector’s advancement in line with both international ment, EU Green Deal, and UN Sustainable Development
standards and local regulations. Highlights from the Guide: Goals. Commenting on the matter, Insurance Association
Climate Change and Disaster Risk Management: Recom- of Türkiye (TSB) President Uğur Gülen
mendations to enhance the resilience of insurance compa- stated, “Sustainability is now a strategic
nies against climate-related financial risks. Green Financing priority for the insurance sector, as it is
and Sustainable Products: Eco-friendly insurance solutions for all industries. With this guide, we aim
and innovative financing models. ESG-Focused Corporate to contribute to the sector’s transforma-
Governance: Strategies promoting transparency, ethical tion in ESG areas and support the build-
management, and stakeholder engagement. Alignment with ing of a sustainable future.”

Neova Sigorta Embarks on Global Insurance Journey with Lloyd’s, the World’s
Insurance Hub

strategic positioning in international being accepted as a capital provider
markets, Neova has also reinforced at Lloyd’s, one of the most prestigious
Türkiye’s representation power in the field insurance markets in the world, is a
of insurance. With its new membership, great source of pride not only for our
Neova will gain a strong competitive company but also for our country. With
edge in the global market and will have this membership, we have taken a step
the opportunity to deepen international aligned with our global expansion goals
collaborations and offer innovative and by enabling Neova’s insurance investment
sustainable solutions. This process is from Türkiye to abroad. This expansion
significant in terms of the company’s aligns with our vision of creating a
presence in the global insurance market. strong impact not only in Türkiye but
A Stronger Global Position with Lloyd’s also in global insurance and reinsurance
Lloyd’s, a globally recognized and markets. As a subsidiary of Kuveyt Türk
accredited marketplace in the insurance Katılım Bankası and a member of the
world, stands out as a leading structure Kuwait Finance House group, which has
Neova Sigorta has been accepted as a in the areas of financial stability, risk global experience, we aim to contribute
capital provider at Lloyd’s of London diversification, and sustainability. With a to the international representation of
(Lloyd’s), one of the most prestigious history of nearly 350 years and the ability our country through our capital strength
insurance markets in the world. With this to operate directly in 80 countries and and international perspective. Lastly,
membership, Neova has taken a significant indirectly in more than 200 countries, Neciboğlu noted that with their recent
step in strengthening its vision from the Lloyd’s platform offers a powerful membership in the Turkish Exporters
Türkiye to the global stage, marking a new channel to expand Neova’s reach and Assembly (TİM), they have also acquired
era in the international insurance arena. influence in international markets. By the status of a financial exporter. She
Offering innovative services to its clients by providing global credibility, Lloyd’s continued: “This process, which will
leveraging the latest technologies and best will enable Neova Sigorta to appeal contribute to positioning us as a strong
practices in the insurance sector, Neova to a broader market and create more financial actor at the international level,
Sigorta has secured a strategic position at opportunities in overseas markets. Neova will enhance our corporate reputation
the international level by joining Lloyd’s Sigorta General Manager Neslihan and perception, reinforcing our leading
as a capital provider. In addition to this Neciboğlu stated, “As Neova Sigorta, role in the sector.”