(Bloomberg) -- Turkish conglomerate Dogan Holding is looking into investing in the insurance sector, its chief executive officer said.
“We're actively looking into industries that are triggered by macro trends, such as mobility, environmental sensitivity and health care,” Oksijen newspaper cited Caglar Gogus as saying in an interview. “Insurance is among these.”
Turkish insurers are “good at selling policies,” but there are issues when it comes to services and technology, Gogus told the weekly newspaper.
Amid an ongoing currency depreciation, “balance sheet and exchange rate management ranks as the top subject in 2021 and 2022,” Gogus said. The lira has slumped 46% against the U.S. dollar this year, the worst performance among major currencies tracked by Bloomberg. The currency closed Friday at 13.8783 per dollar, the lowest close since at least 1981.
More from the interview:
- Dogan Holding doesn't plan any “conventional media investment” in Turkey, following its exit from the sector in 2018
- Dogan is looking into “young, fast growing” companies that are compliant with global trends and operate mainly through digital channels
- Dogan plans new power plants in Turkey and abroad, targets to double its installed power from the current 270MW in three years
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