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: Traffic Insurance Policies under the Scrutiny of the TCA

2018-01-31

Traffic insurance activities of almost the entire Turkish insurance industry have been subject to two examinations of the Turkish Competition Authority ("TCA") in 2017.

TALANX to acquire non-life insurer in Turkey

Editor: Vlad BOLDIJAR
2018-01-25

German insurer TALANX annoucend it has agreed to acquire 99.4% of the shares in LIBERTY Sigorta - the Turkish non-life subsidiary of US-based LIBERTY MUTUAL Group.

STATISTICS: Turkey 3Q2017: Major fall in the top insurers' MTPL GWP following tariffs' ceiling

Editor: Vlad BOLDIJAR
2018-01-18

During 3Q 2017, Turkish insurers reported aggregate GWP worth TRY 33.43 billion (EUR 7.96 billion), a nominal growth rate of 14.76%, according to the quarterly statistics published by the Association of Insurance and Reinsurance Companies of Turkey.

TURKEY: Motor premiums rise by 5%

2018-01-17

Compulsory motor third-party liability insurance premiums have increased by 5% since 1 January 2018.

TURKEY: Law to be amended to clarify scope of motor insurance cover

2018-01-17

A lawmaker has presented a proposal to amend the Road Traffic Law to clarify definitions so as to make it explicit that vehicle accidents in shopping mall parking lots and underground parking lots will be covered by insurance.

TURKEY: Motor 3rd party premium ceiling to rise by 5%+5% in 2018

2018-01-10

The premium ceiling for compulsory motor third-party liability insurance will be increased by 5% at the start of the New Year and by another 5% in the second half of 2018.

TURKEY: Number of uninsured vehicles increases

2018-01-10

The number of uninsured vehicles in Turkey has increased by 1.6 million to 7.9 million at the end of November 2017 compared to 12 months previously.

TURKISH insurance company up for sale

2017-12-14

Turkey to establish a nuclear insurance pool, under TCIP's management

Editor: Daniela GHETU
2017-12-07

TCIP - the Turkish Natural Catastrophe Insurance Pool will sett up a nuclear insurance pool to offer EUR 700 million of protection for each of the country's first nuclear power plants, soon to be built in Akkuyu and Sinop, according to Berat ALBAYRAK, minister of Energy and Natural Resources, reports Hurriyet.

TURKEY: Farm insurance pool's coverage stands at 20% today

2017-11-23

Coverage by TARSIM, Turkey's agricultural insurance pool, has increased to 20% today from 0.5% previous to the establishment of the pool in 2005, on the back of strong state support.

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.