OPPapers.com

A Proposal For An Afilliation

A PROPOSAL FOR AN AFFILIATION AGREEMENT

We are an insurance and reinsurance broking house recently established in Istanbul, Turkey although our history goes back 20 years starting with Florida, U S A .

The purpose of the foregoing is to briefly discuss the potential that may arise from such affiliation for both parties.

As you may notice from the attached data, Turkey is a fast growing country between Europe and Asia. Per capita income has reached 10.000 $ and growth was 6% in the first quarter. However the insurance density is still very low around 1% or just above 100$ per person. This in itself shows higher than income growth potential in this sector which as we all know is highly income elastic.

Thus we believe that an international broker should have a presence here not only to be present in this growing market but also to locally service its present and future clients in a globalised marketplace.

Attached short data about Turkey and ourselves is far from exhaustive, however should be enough to trigger any interest or otherwise , initially.

Needless to say, an affiliation would lead to reciprocal serving of clients locally and exchange know-how.

More importantly for us, is the lack of some products and their derivatives in the market like deductible policies and exclusion riders for example in health and engineering branches.
We intend to examine the availability of such products or clauses in the international market or Lloyds in order to avail them to existing clients who ask for the same.

As an example:

Health for elderly existing or potential insureds with a pre-set tariff for all ages at the outset, like BUPA in U:K:

Event or annual aggregate deductible motor policies and health covers.

Gas station storage leak incidental costs covers

Product guarantee or liability for shipbuilders

The list may be extended further but millions of existing health and motor policyholders present a ready market for better products and...