Turkiye Sigorta shares climb after beating Q3 estimates

About this update from Turkiye Sigorta A.s.

** Shares in Turkiye Sigorta BIST:TURSG rise more than 5% after Turkey-based company that provides a range of insurance services both locally and internationally, reported a better-than-expected Q3 net profit** Turkiye Sigorta posted net profit of 5.02 billion lira ($119.65 million), above market expectations of 4.83 billion lira** Brokerage Global Menkul Degerler says net profit rose 63% year-on-year and 4% quarter-on-quarter, driven by strong premium growth and a sharp rise in net investment income** "We expect the increase in net profit — supported by the improvement in core operational income and the strong contribution from investment gains — to positively impact the stock's performance" Brokerage Global Menkul Degerler says** The stock is the best performer in Turkey's main BIST 100 index BIST:XU100 which is down 0.5% ($1 = 41.9551 liras)

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