MNK International, a Lloyd’s broker based in London, has taken a big step by acquiring a new brokerage firm in Turkey. Although the purchase price was not disclosed, this move signals MNK’s intention to expand its reach in the Turkish insurance market. The new branch, MNK International Türkiye, will be based in Istanbul and focus on insurance and reinsurance services for a variety of specialized risks.
Erhan Ergüneş has been appointed as the CEO of MNK International Türkiye. With 20 years of experience in the insurance industry, including roles at Allianz, Generali, Helvetia, and Chubb, Ergüneş is set to lead the new operation. He will work on providing tailored insurance solutions across sectors such as property, engineering, financial lines, and aviation.
Being part of the MNK Group means the Turkish firm can tap into a broad network of managing general agents (MGAs) and risk-bearing entities worldwide. This will help the company offer creative and flexible insurance options not just locally but from different parts of the world.
Manoj Kumar, the chairman of MNK Group, expressed enthusiasm about the expansion, noting that Ergüneş’s local expertise and understanding of international insurance standards will benefit clients. Kumar also highlighted the opportunities in sectors like construction, engineering, aviation, and agriculture in Turkey.
The new office aims to build long-term partnerships with clients and provide insurance packages that keep up with their changing needs. This acquisition adds to MNK Group’s global presence, which already includes a strong footprint across over 130 countries through its network of MGAs and insurance and reinsurance companies.
Overall, MNK International’s move into Turkey marks a strategic effort to serve clients with specialized needs and deliver innovative risk solutions in a growing market.