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 3Q2018 Market Portfolio

Turkey 3Q2018 Rankings

See all statistics

HOWDEN to acquire majority stake in Turkish broker ACP

Editor: Vlad BOLDIJAR
2018-04-12

HOWDEN, part of HYPERION Insurance Group, announced that it has entered into an agreement to acquire a majority stake in Turkey largest independent re/insurance broker ACP from private equity fund MEDITERRA CAPITAL and existing management shareholders.

TURKEY: Insurance market employs around 20,000 people

2018-03-15

The insurance sector has provided employment to 19,901 people in 2017, an increase of 1.2% over 2016, according to figures announced by Turkey Insurance Association (TSB).

TURKEY: Takaful data disclosed separately for the first time

2018-03-08

The Insurance Association of Turkey (TSB) has announced for the first time data related to takaful or participation insurance, showing that total contributions generated in the segment amounted to TRY109.47 million (US$28.8 million) for January 2018.

TURKEY: Insurance body to resolve motor issues in holistic manner

2018-03-08

The Insurance Association of Turkey (TSB) will take a holistic approach towards resolving problems faced in motor insurance, says the association's Secretary General Mehmet Akif Eroglu. Measures will be taken this year so that in 2019, a new page will turn over in the sector, he adds.

TURKEY: Malaysian sovereign fund plans to sell Turkish health insurer

2018-02-20

A unit of Malaysia's sovereign wealth fund plans to sell its Turkish health insurance business to focus on its home market, reported Bloomberg citing three people with knowledge of the matter.

TURKEY: Vision 2023 projects hailed as boon to insurance sector

2018-02-20

Turkey retains its attractiveness to foreign investors in the insurance sector because of energy, infrastructure and other new projects undertaken or planned in line with the government's 2023 Vision, says Mr Maximilian Stahl, CEO of Istanbul-based VHV Reassurance. The 2023 Vision seeks to establish Turkey as one of the world's top economies by 2023 which will be the centenary of the proclamation of the Republic of Turkey in 1923.

TURKEY: Mart conditions need to change to push building completion cover

2018-02-07

Changes in general conditions are needed for building completion insurance to take off in Turkey, according to an executive at reinsurance broker JLT Turkey.

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.