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Singapore's Igloo expands beyond Asia Pacific with Turkey's Sigortayeri partnership
Turkey’s insurance penetration was 2.62% of GDP at the end of 2025. TechNode Global reported Igloo’s first move outside Asia Pacific: a personal cyber product with Sigortayeri, Aktif Bank’s insurtech arm, sold through the N Kolay app’s eight million users. Igloo Co-Founder and CEO Raunak Mehta said: “We expect Turkey to be the first of several markets for us across the Middle East, Central Asia and North Africa.”
Insurtech Igloo expands Philippines strategy as insurance market hits $8.4B
TechNode Global reported that Igloo has appointed Ramjit Lahiri as Philippines Country Head as the company deepens its presence in one of Southeast Asia's fastest-growing insurance markets. The Philippines recorded PHP502.6 billion (US$8.37 billion) in total insurance premiums in 2025, up 14.1% year on year, though penetration remains below 2% of GDP.
Since entering the Philippines, Igloo has partnered with more than 40 digital platforms, launched over 55 insurance products, and established partnerships with GCash, Shopee, Lazada, and Smart Communications. Lahiri will lead the company's expansion into banking, consumer finance, and healthcare sectors in 2026.
