New Year's is always one of those days when we realize how fast time passes.
There are many things to say about 2023. As a society, we have been shaken by major disasters, economic difficulties, wars, infuriating events, elections, politics that cannot settle down... In short, it has been a restless year.
Even the smallest happy moment remianed half. We have not been able to share our joy sufficiently, nor have we been able to experience our sadness properly. We are tired of the never-ending, never-ending, overlapping events and the speed of mood swings.
In the midst of so much negativity, I can say that it was a year of firsts and auspicious beginnings in my life. 2023 was a year of realizations for me,
My values, what I believe in, what I stand for have not changed. Honesty and sincerity are always my indispensables. 2023 has brought me a new career, a new life and a new way of living. I hope it has been such happy and enjoyable moments for you too.
I didn't want to keep all the efforts and learnings I made until this age, I shared them. And the more I shared, the more I shared, and in return, I experienced the happiness of "doing what we love" that we all want to experience in life. That's why I am happy to have taken this step, and I owe thousands of thanks to everyone who encouraged and supported me.
Let's talk about our sector: 2023 was also a difficult year for the insurance sector. As of the end of November, total premium production was 415 Billion TL. Although it is said to be a record production, when we read the statistics, despite the billions of TL premium produced, the technical profit in non-life branches as of the end of the 3rd quarter is 2%, the sector average is 4.2% - this means that the profit obtained from all the premium produced at the end of the 3rd quarter - 324 Billion TL - is 6 billion TL.
The line that affects the profitability of the sector is, as you may have guessed, motor liability . In the 2022-23 comparison, MTPL premiums increased almost 2.5 times, but this was not enough to reduce the loss. In motor insurance, premiums increased by 100% and profitability is 11%.
2024 will be an interesting year. We will see the effects of the challenging year, which I have frequently mentioned throughout the year and which has also been reported in sector publications. Some organizations will be forced into lower premium versions to suppress insurance costs, some will perhaps choose not to insure, while others will somehow bear the costs and insure their risks. We are already hearing about risks where capacities have not been filled and are falling short. Institutions will continue to look for solutions to make up the shortfall, but 2024 is likely to be a year of changing habits for insurers, intermediaries and policyholders alike, a year when everyone will be challenged.
The years when technical UW will be at the forefront for the insurance sector are beginning. In 2024, increases will continue. Well-managed risks will be differentiated and risk engineering will become widespread. This increase will create new business areas and an educated and qualified dynamic workforce will join the sector. The technical approach will lead intermediary institutions to learn more, and specializations will gain value. Of course, this will not happen in a year, but it will be the year when basic steps are taken and actions are initiated to correct many shortcomings and mistakes.
Climate events will increase all over the world, technology will make our lives easier on the one hand, while cyber threats will reach shocking dimensions on the other, it seems that wars will not end, large migration movements in the world will continue, the lives of cities and countries will change as people move between countries and continents, energy and food needs will increase. Humanitarian problems such as health and education will increase.
As individuals, we will continue to struggle for life, to work and produce for future generations, because this is the circle of life.
The most important message of 2023 is to learn from what you see and experience.
We all experience together how short life is and what happens when we take shortcuts and deviate from tried and tested paths based on science and logic. In politics, in the economy, in social ethics, in business practices, in education, in production, everywhere, we need to pause and reflect on the mistakes made and their consequences. Mistakes have caused a lot of damage, but on the other hand, there are universal and unchanging truths, and it is these truths that everyone wants to live by.
In this year when many steps have been taken, we hope that what has been said will not be just words, that it will be implemented, that those who do not comply will be encouraged to the right path, and that we will take decisive remedial and corrective steps. It is better to do the right thing than the wrong thing.
I believe that there is an emotion that governs every human being. Mine is "love".
I believe in the unifying power of love.
Two beautiful words:
Dostoyevsky: "Beauty will save the world"
and
From Sait Faik Abasıyanık: "Everything starts with loving a person"
I wish 2024 will bring us all love, health, prosperity and abundance.
Happy New Year to everyone.
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