News Middle East21 Apr 2019

Turkey:Allianz to open earthquake lab this year

| 21 Apr 2019

German global insurer Allianz has plans to open what is said will be Turkey's first accredited earthquake laboratory.

Mr Tolga Gurkan, Turkey Allianz CEO, said that there would be fire and earthquake simulations, fire detection systems. With educational toys and simulation equipment, Allianz will also create an environment where students can learn in fun, according to a report in Insurance Gazette.

Mr Gurkan also said, “In addition to supporting academic studies, we will carry out fire and earthquake tests for the industry.”

He said that the company is establishing Allianz Technics at the Turkish-German University in Istanbul. Through it, Allianz will provide professional risk consultancy services to reduce and prevent possible earthquake and fire risks. This is scheduled to open in October.

Performance

Mr Gurkan also revealed that Allianz's units in Turkey included Allianz Insurance and Allianz Life and Pension. They generated TRY10.5bn ($1.8bn) in premiums and contributions and made a profit of TRY980m last year.


 

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