First Turkish broker approved by Lloyd’s

Lloyd’s has approved Türker Broker as the first Turkish broker to operate in the London market.

Türker was formed in 2006 by brothers Akgün and Eray Türker and is the third largest reinsurance broker in Turkey and the largest Turkish-owned reinsurance broker.

It specialises in petro-chemical and international engineering projects and is on the panel of reinsurance brokers for the Turkish Catastrophe Insurance Pool (TCIP). The business is headquartered in Istanbul and also has an office in Dubai.

Cameron Murray, Lloyd's head of UK, Ireland, Middle East & Africa, said: “I am delighted to welcome Türker Broker to Lloyd’s. Turkey is an important market for Lloyd's. It has a fast-growing economy and yet insurance penetration levels remain relatively low, particularly given the country's exposure to earthquake risk.

“The Lloyd’s market can play an important role in mitigating risk to businesses and consumers as the Turkish economy continues to expand rapidly.”