STATISTICS: TURKEY, 1H2018: Insurance industry increased by one fifth to EUR 5.2 billion

The preliminary half-year market figures published by the local insurance association (TSB) shows the insurance sector in Turkey generated total premiums of TRY 27.87 billion (EUR 5.24 billion), an increase of 20.5% y-o-y. After considering inflation, real growth in the sector was 4.4%.

Non-life premiums reached TRY 24 billion (EUR 4.52 billion) in 1H2018, 21.2% higher y-o-y, while life premiums stood at TRY 3.85 billion (EUR 732 million), 16.1% more y-o-y.

Among the biggest classes of business, MTPL GWP grew by 32.5% to TRY 7.74 billion in 1H2018. Motor Own Damage insurance premiums rose by 13.2% to TRY 3.71 billion while Property insurance premiums increased by 16.72% to TRY 6.58 billion.

Access www.xprimm.com and download the 1H2018 Turkish insurance market statistics.

Market portfolio (in EUR and TRY):

  • Gross written premiums
  • Paid claims
  • Growth rates
Market rankings in EUR and TRY (GWP/ Market shares/Growth rates):

  • Total market
  • Life insurance
  • Non-life
  • Motor Hull
  • Motor vehicle liability
  • Accidents
  • Health
  • GTPL
  • Fire
  • Damages
Find detailed 1H2018 market data in the forthcoming edition of the XPRIMM Insurance Report CEE, SEE & CIS - 1H2018, to be launched on 21 October, in Baden Baden.



Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

Bulgaria: Boiko ATANASSOV appointed as FSC's head

The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.

21.03.2019

TOP EVENT

Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9

10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.

21.03.2019

Conclusions: TBILISI - the first Georgian International Insurance Conference

The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

14.03.2019

See all