Evaluation of Turkish insurance sector in terms of competition

Abstract

The insurance sector is drawing a rapidly rising graph in all over the world in recent years. Especially in developed economies, the additional value of the insurance system in micro and macro economics can not be ignored. Fundraising capacity, creating safety and stability effects for all economic activities, contributing to the development of international trade are some of the benefits that the sector brings to the economy. Reaching severe levels of The size of the funds created by the insurance sector, resulting in increaing and deepening the competition in the sector and as a result of this, causing to emerge of restrictive or obstructive behaviours. It is known as the Turkish insurance sector is within the scope of the law on the protection of Competition Act No. 4054. It is understood when the lawsuits being proceeded within the framework of this law are examined that, a large number of cases opened on suspicion of contravention of competition, in the mean·time, the cases opened for mergers and acquisitions also can be seen. In this study we aim that lighting the way for all studies which will be taken an active role for making the Turkish insurance sector as effective as other advanced economies ones, at the same time for all studies which will be carried out for the removal of actions and behavior that are restrictive for competition.

Keywords:Turkish insurance sector, competition, competition law