EFFECTS OF GLOBAL FINANCIAL CRISIS ON THE INSURACE SECTOR: A STUDY ON THE TURKISH INSURANCE SECTOR

The global financial crisis of 2008 is qualified as the greatest crisis experienced in global economy following great depression in 1929, the epicenter of which was finance sector. even though as a whole the finance sector has not been affected by the global financial crisis of 2008 as much as the banking sector was affected, the crisis has affected particularly insurance companies which have insured financial products. in this study, the effects of the global financial crisis on the global insurance market shall be addressed first. in the other section of the study, the results of survey made with 120 managers in the sector shall be examined to determine the effects of the global financial crisis on the turkish insurance sector.