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 = 3.7166 Turkish lira - TRY (December 31st, 2016)
1 EUR = 3.1896 Turkish lira - TRY (December 31st, 2015)
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
1H2017	Market portfolio	xlsx
1H2017	Insurance Companies Rankings	xlsx
1Q2017	Market Portfolio	xlsx
1Q2017	Insurance Companies Rankings	xlsx
FY2016	Market Portfolio	xlsx
FY2016	Insurance Companies Rankings	xlsx
3Q2016	Market Portfolio	xlsx
3Q2016	Insurance Companies Rankings	xlsx
1H2016	Market Portfolio	xlsx
1H2016	Insurance Companies Rankings	xlsx
1Q2016	Market Portfolio	xlsx
1Q2016	Insurance Companies Rankings	xlsx
FY2015	Market Portfolio	xlsx
FY2015	Insurance Companies Rankings	xlsx
3Q2015	Market portfolio	xlsx
3Q2015	Insurance companies rankings	xlsx
1H2015	Market Portfolio	xlsx
1H2015	Insurance Companies Rankings	xlsx
1Q2015	Market portfolio	xlsx
1Q2015	Insurance companies rankings	xlsx
FY2014	Market Portfolio	xlsx
FY2014	Insurance Companies Rankings	xlsx
3Q2014	Market Portfolio	xlsx
3Q2014	Insurance Companies Rankings	xlsx
1H2014	Insurance market overview	pdf
1H2014	Market Portfolio	xlsx
1H2014	Insurance Companies Rankings	xlsx
1Q2014	Insurance Companies Rankings	xlsx
1Q2014	Market Portfolio	xlsx
FY2013	Insurance market overview	pdf
FY2013	Insurance Companies Rankings	xlsx
FY2013	Market Portfolio	xlsx
3Q2013	Insurance Companies Rankings	xlsx
3Q2013	Market Portfolio	xlsx
1H2013	Insurance market overview	pdf
1H2013	Insurance companies rankings	xlsx
1H2013	Market portfolio	xlsx
1Q2013	Insurance Companies Rankings	xlsx
1Q2013	Market Portfolio	xlsx
FY2012	Insurance market overview	pdf
FY2012	Market Portfolio	xlsx
FY2012	Insurance Companies Rankings	xlsx
3Q2012	Market portfolio	xlsx
3Q2012	Insurance companies rankings	xlsx
1H2012	Insurance market overview	pdf
1H2012	Market portfolio	xlsx
1H2012	Insurance companies rankings	xlsx
1Q2012	Insurance Companies Rankings	xlsx
1Q2012	Market Portfolio	xlsx
FY2011	Insurance market overview	pdf
FY2011	Market Portfolio	xlsx
FY2011	Insurance Companies Rankings	xlsx
3Q2011	Market Portfolio	xlsx
3Q2011	Insurance Companies Rankings	xlsx
1H2011	Market portfolio	xlsx
1H2011	Insurance companies rankings	xlsx
4M2011	Insurance market overview	pdf
4M2011	Market portfolio and rankings	xlsx
2010	Insurance market overview	pdf
2010	Market portfolio and rankings	xlsx
2009	Turkish insurance market overview	pdf
2009	Market portfolio	xls
2009	Life insurance rankings	xls
2009	Non-Life insurance rankings	xls
1H2010	Turkish insurance market overview	pdf
1H2010	Market portfolio	xls
1H2010	Life insurance rankings	xls
1H2010	Non-Life insurance rankings (total & main lines)	xls

Turkey 1H2018 Rankings

Turkey 1H2018 Market Portfolio

See all statistics

TURKEY: Motor accidents kill 21,000 in last 4 years

2017-11-23

In the last four years, more than four million traffic accidents occurred in Turkey, killing 21,000 people and injuring more than 674,000, according to data from the Turkish General Directorate of Security.

TURKEY: Insurers to lose nearly USD 800 million due to ceiling on motor premium

2017-10-31

The application of a ceiling on premiums for compulsory motor third-party liability (MTPL) insurance would cause insurers to lose TRY3 billion (USD 792 million) a year, according to a senior insurance executive.

Editor: Vlad BOLDIJAR
2017-10-05

The first half of 2017 represented for the Turkish insurance market a nominal growth in GWP of almost 12% to TRY 23.1 billion (EUR 5.8 billion), according to the data published by TSB - the local professional association.

TURKEY: Talks in progress with insurers on smart driver systems

2017-10-05

Talks are ongoing between commercial vehicle operators and insurance companies for the latter to bear the cost of installing intelligent driver warning systems in vehicles to prevent traffic incidents.

TURKEY: Online insurance broker launches motor premium index

2017-10-05

Sigortam, an online insurance comparison and sales platform, has introduced its Motor and Traffic Insurance Index that keeps tabs on changes in motor premiums.

TURKEY: PCS estimates Turkish hail storms & floods loss at approx USD 300 m

2017-09-19

Property Claim Services (PCS), a division of Verisk Analytics, has provided its first estimate of the insurance and reinsurance industry loss from the two Turkish hail storm and flooding events that struck the country in July 2017 as around USD 300 million combined.

TURKEY: Average MTPL premium falls by 24% in wake of price cap

2017-09-07

The average premium for mandatory third party liability motor insurance (MTPL) fell by 24% from TRY864 (US 252) in March to TRY660 in July, since the implementation of a premium ceiling on 12 April, notes Deputy Prime Minister in charge of the economy Mehmet Simsek.

TURKEY: 18 years after major northwest Turkey quake, 'big one' still relevant

2017-08-22

Experts warned Thursday that a strong earthquake will hit Istanbul in the near future, as the country marks the 18th anniversary of a devastating quake in the Istanbul region.

TURKEY: Insured losses from Turkish storms rise

2017-08-16

Aon Benfield's latest Impact Forecasting weekly cat report has predicted that forecast insured losses from a brace of recent storm outbreaks in Turkey could reach USD 441mn.

TURKEY: Insurance Europe voices concerns over changes in insurance regulations

2017-08-10

Recent changes and proposals to the Turkish regulatory framework are raising significant concerns for European (re)insurers operating in the Turkish insurance market, says Insurance Europe which is the European insurance and reinsurance federation.

TURKEY: 150,000 cars awaiting insurance money after heavy Istanbul hailstorm

2017-08-07

Some 150,000 car owners have made insurance claims for damage caused by heavy hail in Istanbul on July 27, which left holes on hoods and broke many windshields, as thousands of others have been waiting in line to be registered.

TURKISH storm costs rise

2017-08-07

Forecast insured losses from two recent storm outbreaks in Turkey could reach USD441mn, according Aon Benfield's latest Impact Forecasting weekly cat report.

TURKEY's Insurers Gear Up for Spate of Claims After 2nd Major Storm in 10 Days

2017-08-07

The Borsa Istanbul Insurance Sector Index dropped as much as 2.5 percent on Friday after a brief but ferocious storm in Istanbul on Thursday showered the city with hail as large as golf balls, shattering windows, denting vehicles and damaging buildings.