While small and medium-sized enterprises (SMEs) make up 99.7% of all enterprises in Türkiye, the insurance rate for them remains at 32%, according to Mr Oktem Orkun, deputy general manager of elementary commercial insurance at Allianz Turkiye.
While Egypt's population has reached approximately 108m, according to recent data from the Central Agency for Public Mobilisation and Statistics, the life insurance penetration rate in the local market remains low at less than 1%, compared to the global average of 7-10%.
The Iraq Insurance Diwan (IID), the insurance industry regulator, is working on improving the motor insurance system.