Turkiye Sigorta, which gathered six state-run insurance companies under a single roof, will push the Turkish insurance sector over the top in the global competition, President Recep Tayyip Erdogan said on Monday.

The newly established firm will reduce costs and raise productivity, Erdogan stressed during the introductory meeting in the capital Ankara.

Turkiye Sigorta will be a strong market actor in its region and global competition, he underlined.

“We will witness that all stakeholders of the economy and our citizens will feel the recovery seriously,” the president noted.

He also said that throughout history, those who could not beat Turkey in diplomacy, defense, and military fields have always used the economy as a weapon.

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