Levent Nart is the founder, President and CEO of Nart Insurance Broking Service Inc. NART is one of the Turkey’s leading Insurance Brokers specialising in large risks. He graduated from Ege University and then the University of Cologne, Faculty of Business Administration. He began his career in 1984 at AXA Colonia Konzern in Germany as a management trainee and became an industrial consultant. From 1987 to 1999, he was the CEO and President of Nordstern UAP, AXA Oyak Insurance Companies in Turkey. In 1999, he established NART, and within 5 years, this company became the largest independent Insurance Broking Service Company in Turkey. NART Insurance and Reinsurance Broking Services Inc. is providing risk management services for Turkish and international industrial companies in more than 120 countries.
Levent NART was President of Turkish Insurance Broker Association (SBD), the Founder Board Member of German & Turkısh Chamber of Commerce and Industry in İstanbul, Supervisory Board Member of Turkish Young Businessmen Association of Turkey (TUGIAD) Vice Board Member of Turkısh Industrialists’ Businessmen’s Association (TUSIAD) in Turkey.
Levent Nart speaks English, German fluently and basic French.
BEYOND MENA: A REVIEW OF EMERGING MARKETS AND THE IMPACT OF CHINA 1BIR
How do MENA markets figure within China’s 1B1R plans?
MENA markets are up until now a small proportion of the overall investments under the 1B1R. Having said this we are at an interesting time when, on one hand. we have the 1B1R initiative from China and, on the other, the efforts of several MENA Governments to develop their economies away from their dependence on natural resources. The transformation of the economies is likely to necessitate significant infrastructure investments and in areas that Chinese companies have good expertise.
For these reasons, the 1B1R has the potential of transforming the relationship of several of the MENA markets with China while providing expertise and capital investment.
Which lines of business will be most impacted by 1B1R investment?
This will vary from market to market. Broadly speaking this is going to impact construction, engineering and transport. These are in any case lines of business which are already reinsured, some would even say they are fronted by local companies.
Longer term it has the potential of providing some significant capacity for reinsurance to the local markets as reinsurers based in China get acquainted with the local markets and their practices
Is 1B1R doing much to drive regional re/insurance business vs being re/insured in China?
I don’t think we have seen much drive for regional reinsurance business driven by the 1B1R. As mentioned earlier the relative importance of the region to the initiative is the main driver. Growth in the number and value of projects is likely to drive reinsurance demand. One should not forget that the region is already very competitive when it comes to insuring major projects. So, I think, that the main driver as to how this pie will be shared will depend on the appetite of the (re)insurers and the prices that are on offer.