Turkey

Location:
Southeastern Europe and Southwestern Asia (that portion of Turkey west of the Bosporus is geographically part of Europe), bordering the Black Sea, between Bulgaria and Georgia, and bordering the Aegean Sea and the Mediterranean Sea, between Greece and Syria


Climate:

temperate; hot, dry summers with mild, wet winters; harsher in interior

Natural hazards:
severe earthquakes, especially in northern Turkey, along an arc extending from the Sea of Marmara to Lake Van

Currency: Turkish lira (TRY)
1 EUR = 2.8323 Turkish lira - TRY (December 31st, 2014)
1 EUR = 2.9397 Turkish lira - TRY (December 31st, 2013)
1 EUR = 2.3565 Turkish lira - TRY (December 31st, 2012)
1 EUR = 2.4556 Turkish lira - TRY (December 31st, 2011)
1 EUR = 2.0650 Turkish lira - TRY (December 31st, 2010)

Sources:
Association of Insurance and Reinsurance Companies of Turkey
Central Bank of the Republic of Turkey

Insurance statistics

1Q2017
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FY2014Market Portfolioxlsx
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3Q2014Market Portfolioxlsx
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1H2014Insurance market overview pdf
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1Q2014
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FY2013Insurance market overview pdf
FY2013
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3Q2013
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1Q2013
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FY2012Insurance market overview pdf
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3Q2012Market portfolioxlsx
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1Q2012
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FY2011Insurance market overview pdf
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3Q2011Market Portfolioxlsx
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4M2011Insurance market overviewpdf
4M2011Market portfolio and rankingsxlsx
2010
Insurance market overviewpdf
2010Market portfolio and rankingsxlsx
2009Turkish insurance market overview pdf
2009Market portfolioxls
2009Life insurance rankingsxls
2009Non-Life insurance rankingsxls
1H2010Turkish insurance market overviewpdf
1H2010Market portfolioxls
1H2010Life insurance rankingsxls
1H2010Non-Life insurance rankings (total & main lines)xls

1Q2017 Market Portfolio

1Q2017 Insurance Companies Rankings

TURKEY: GM of Groupama Insurance, is retiring from office

Having been assigned as the Assistant General Manager of Groupama in 2008 following the acquisition of Guven Insurance and reassigned as the General Manager of Groupama Insurance Inc. and Groupama Pension Inc., Ramazan Ulger will be retiring from office on April 30th, 2017 as a result of the mutual decision made with the Group Management. Recruitment process is continuing for the new General Manager and will be announced briefly.

TURKEY: Zurich launches first retail cyber protection insurance product

In 2016 there were a number of huge leaks of personal data of Turkish citizens online. It's created a massive demand for products to insure individuals and businesses from losses caused by cyber crime. Yilmaz Yildiz, CEO of Zurich Turkey, outlines the first product they've brought to market to address this demand.

TURKEY: Generali: The Total Number of Fire Incidents in 2016 in Istanbul Adds up to 28,586

Not another day pass without the bad news of fire incidents. We are bound to read a number of big or small fire incidents. These fire hazards are causing significant losses both material and immaterial. The total number of fire incidents only in 2016 in Istanbul adds up to 28,586. According to the statistics of Istanbul Fire Department, among these incidents 5,910 were residential and 153 were manufacturing plants. Almost 40% of all the fire incidents in Istanbul last year were due to smoking. Electrical malfunction follows smoking with a whopping 21.5%. As one may see, it is possible to eliminate at least 40% of the fire hazards if we were to observe the non-smoking warnings in commercial and industrial facilities.

TURKEY: Fast fish will eat the slow fish in Insurance business

As a customer, what do you see when you look at the insurance business? Complex processes, hard to read and hard to understand policies, strict procedures... As a person working in this sector for 16 years, I must admit that this is the picture in my mind.

TURKEY: Fire Hazard is Still the Biggest Threat: Investments are Turning to Dust

As a humane urge to secure one's future, individuals are encouraged to invest as much as their budgets allow. These investments are sometimes involving purchasing real estate or automobiles and other times starting one's own business. The research showed that real estate is still the number one choice of Turkish people as an investment. However, it is important to secure such an investment against the risks as it is the fruit of years of labor.

TURKEY: Transfer of Isık Insurance is approved

According to the announcement made by the Competition Authority on its official website, the transfer of the Isık Insurance Corp., once was controlled by the Asia Participation Bank Corp., to Turkish Agricultural Credit Cooperatives Central Association is approved.