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INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS

Yıl 2011, Cilt: 19 Sayı: 1, 77 - 103, 28.06.2011
https://doi.org/10.29228/mjes.146

Öz

The main aim of this paper is to analyze the extent of the harmonization of the Turkish insurance market with the European single insurance market and the integration prospect between the two markets. The results revealed that even though consumers and re/insurers situated in any one of the Member States are completely free to operate throughout the European Economic Area (EEA) under the same conditions with local companies and consumers, insurers do not make use of freedom of services (FOS) and freedom of establishment (FOE) and thus insurance markets of the EEA Member States are still far from being integrated markets. Mergers and acquisitions are still the dominant strategy to access a foreign insurance market in the EEA. As far as the Turkish insurance market is concerned, it is argued that Turkey, an acceding country to the EU, harmonized its insurance legislation with the EU insurance acquis to a great extent. Perceptions and expectations of the Turkish insurance market on the current level of harmonization and the integration prospect with the European single insurance market are investigated by a survey. The sector believes that Turkish insurance legislation is already harmonized with the EU insurance acquis and that the EU membership of Turkey would be beneficial for the Turkish insurance market but as of today it would not result in the integration of the market with the insurance markets of the EEA Member States.

Keywords: Insurance, Integration, Turkish Insurance Market, European Single Insurance Market

Kaynakça

  • Atalay, A. U. (2004).
  • Avrupa Birliği Perspektifiyle Hizmetlerin Serbest Dolaşımı Kapsamında Türk Sigortacılık Sektörünün Değerlendirilmesi. Avrupa Birliği Genel Sekreterliği Uzmanlık Tezi. Ankara.
  • Beckmann, R., C. Eppendorfer and M. Neimke. (2002). Financial Integration within the European Union: Towards a Single Market for Insurance. MPRA Papers. 5280. Brittan, L. (1990).
  • European Insurance in a Single Market, Tijdschrift voor Economie en Management. 35.4, 411-423. Ellis, H. (1990).
  • European Integration and Insurance. London: Witherby&Co. European Commission. (2007).
  • Interim Report on Business Insurance Sector Inquiry. Brussels. Hess, T. and T. Trauth. (1998).
  • Towards A Single European Insurance Market. International Journal of Business. 3.1, 89-100. Insurance Supervisory Board (ISB). (2010).
  • 2009 Annual Report about Insurance and Private Pension Activities in Turkey. Labilloy, B. (2003).
  • European Insurance Regulation: New Opportunities for Insurers and Consumers. Brussels: CEA. Skipper, H. D. (1997).
  • Foreign Insurers in Emerging Markets: Issues and Concerns. IIF Occasional Papers. 1. Weidenfeld, G. (1996).
  • The European Internal Insurance Market: Expectations, Assessments and Consequences for Business Policy from the Insurers’ Point of View. The Geneva Papers on Risk and Insurance. 21.1, 77-107.

INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS

Yıl 2011, Cilt: 19 Sayı: 1, 77 - 103, 28.06.2011
https://doi.org/10.29228/mjes.146

Öz

The main aim of this paper is to analyze the extent of the harmonization of the Turkish insurance market with the European single insurance market and the integration prospect between the two markets. The results revealed that even though consumers and re/insurers situated in any one of the Member States are completely free to operate throughout the European Economic Area (EEA) under the same conditions with local companies and consumers, insurers do not make use of freedom of services (FOS) and freedom of establishment (FOE) and thus insurance markets of the EEA Member States are still far from being integrated markets. Mergers and acquisitions are still the dominant strategy to access a foreign insurance market in the EEA. As far as the Turkish insurance market is concerned, it is argued that Turkey, an acceding country to the EU, harmonized its insurance legislation with the EU insurance acquis to a great extent. Perceptions and expectations of the Turkish insurance market on the current level of harmonization and the integration prospect with the European single insurance market are investigated by a survey. The sector believes that Turkish insurance legislation is already harmonized with the EU insurance acquis and that the EU membership of Turkey would be beneficial for the Turkish insurance market but as of today it would not result in the integration of the market with the insurance markets of the EEA Member States.

Keywords: Insurance, Integration, Turkish Insurance Market, European Single Insurance Market

Kaynakça

  • Atalay, A. U. (2004).
  • Avrupa Birliği Perspektifiyle Hizmetlerin Serbest Dolaşımı Kapsamında Türk Sigortacılık Sektörünün Değerlendirilmesi. Avrupa Birliği Genel Sekreterliği Uzmanlık Tezi. Ankara.
  • Beckmann, R., C. Eppendorfer and M. Neimke. (2002). Financial Integration within the European Union: Towards a Single Market for Insurance. MPRA Papers. 5280. Brittan, L. (1990).
  • European Insurance in a Single Market, Tijdschrift voor Economie en Management. 35.4, 411-423. Ellis, H. (1990).
  • European Integration and Insurance. London: Witherby&Co. European Commission. (2007).
  • Interim Report on Business Insurance Sector Inquiry. Brussels. Hess, T. and T. Trauth. (1998).
  • Towards A Single European Insurance Market. International Journal of Business. 3.1, 89-100. Insurance Supervisory Board (ISB). (2010).
  • 2009 Annual Report about Insurance and Private Pension Activities in Turkey. Labilloy, B. (2003).
  • European Insurance Regulation: New Opportunities for Insurers and Consumers. Brussels: CEA. Skipper, H. D. (1997).
  • Foreign Insurers in Emerging Markets: Issues and Concerns. IIF Occasional Papers. 1. Weidenfeld, G. (1996).
  • The European Internal Insurance Market: Expectations, Assessments and Consequences for Business Policy from the Insurers’ Point of View. The Geneva Papers on Risk and Insurance. 21.1, 77-107.
Toplam 11 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm Makaleler
Yazarlar

Onur Acar Bu kişi benim

Yayımlanma Tarihi 28 Haziran 2011
Yayımlandığı Sayı Yıl 2011 Cilt: 19 Sayı: 1

Kaynak Göster

APA Acar, O. (2011). INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS. Marmara Üniversitesi Avrupa Araştırmaları Enstitüsü Avrupa Araştırmaları Dergisi, 19(1), 77-103. https://doi.org/10.29228/mjes.146
AMA Acar O. INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS. MJES. Haziran 2011;19(1):77-103. doi:10.29228/mjes.146
Chicago Acar, Onur. “INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS”. Marmara Üniversitesi Avrupa Araştırmaları Enstitüsü Avrupa Araştırmaları Dergisi 19, sy. 1 (Haziran 2011): 77-103. https://doi.org/10.29228/mjes.146.
EndNote Acar O (01 Haziran 2011) INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS. Marmara Üniversitesi Avrupa Araştırmaları Enstitüsü Avrupa Araştırmaları Dergisi 19 1 77–103.
IEEE O. Acar, “INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS”, MJES, c. 19, sy. 1, ss. 77–103, 2011, doi: 10.29228/mjes.146.
ISNAD Acar, Onur. “INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS”. Marmara Üniversitesi Avrupa Araştırmaları Enstitüsü Avrupa Araştırmaları Dergisi 19/1 (Haziran 2011), 77-103. https://doi.org/10.29228/mjes.146.
JAMA Acar O. INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS. MJES. 2011;19:77–103.
MLA Acar, Onur. “INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS”. Marmara Üniversitesi Avrupa Araştırmaları Enstitüsü Avrupa Araştırmaları Dergisi, c. 19, sy. 1, 2011, ss. 77-103, doi:10.29228/mjes.146.
Vancouver Acar O. INTEGRATION PROSPECT OF THE TURKISH INSURANCE MARKET WITH THE EUROPEAN SINGLE INSURANCE MARKET: A SURVEY AMONG TURKISH MARKET PLAYERS. MJES. 2011;19(1):77-103.