AmTrust International has reported steady progress in its Turkish operations, one year after opening its office in Istanbul.
The development forms part of the company’s wider strategy to grow its credit protection and affinity portfolio and improve underwriting performance across key markets.
The Istanbul office, which serves as a regional hub, has supported AmTrust’s expansion in Turkey and surrounding markets. Under the leadership of general manager Erdinc Karayazlik, the company said its local team has worked to grow the company’s presence in the specialty insurance sector. Karayazlik brings two decades of experience in insurance distribution roles across Turkey, the Middle East, Europe and Africa.
Over the past year, AmTrust has extended its offering in areas such as mortgages, credit protection, and rent guarantees. The company has also begun exploring adjacent sectors, including extended warranties and device protection, responding to evolving customer needs.
Turkey’s insurance market is one of the fastest-growing in the region, supported by a large and young population alongside increasing demand for specialised insurance products. The sector has seen steady growth driven by rising awareness of risk protection and expanding financial services. However, the market remains underpenetrated compared to many European countries, presenting opportunities for insurers focusing on niche and affinity products.
Government initiatives aimed at financial inclusion and regulatory reforms are also supporting market development. These changes encourage the adoption of insurance solutions, particularly in credit protection and specialty lines, areas in which AmTrust is positioning itself for growth.
As part of its broader expansion strategy, AmTrust has recently introduced new credit protection products in Central and Eastern Europe and broadened its affinity insurance offerings in the UK market. The company has also enhanced underwriting capabilities in North America, reflecting its focus on specialty lines worldwide.
Karayazlik said the establishment of a regional base in Turkey has enabled the company to centralise operations and pursue further expansion across the region.
Bruce Whitmee, CEO of AmTrust Specialty Limited, said the company has made measurable progress over the past year and remains committed to expanding its presence in specialty insurance globally. He added that continued investment in underwriting and product innovation would support the company’s long-term objectives.
