Turkey

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Location map
author: OCHA/ ReliefWeb


Location:
- Southeastern Europe and Southwestern Asia (the West of the Bosporus portion is geographically part of Europe), bordering the Black Sea, the Aegean Sea and the Mediterranean Sea;
- Neighbours: Cyprus, Greece, Bulgaria, Georgia, Armenia, Azerbaijan, Iran, Iraq, 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.

Macro indicators
* 2018 estimates
Surface:783,356 km2
Population*:82.0million
Pop. density*:104.6people/km2
GDP*:611.4EUR billion
GDP/capita*:7,456.1EUR

European Union:
Candidate

Currency: Lira
Code: TRY
Since: 2005


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:13%
TOTAL NON-LIFE*:87%
Overall Property*:22%
Overall Motor*:43%

Sources:



 


Statistics

Turkey 1Q2019 Rankings

Turkey 1Q2019 Market Portfolio


See all statistics

Latest news

HOWDEN to acquire majority stake in Turkish broker ACP

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: Takaful data disclosed separately for the first time

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

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: Vision 2023 projects hailed as boon to insurance sector

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.



TALANX to acquire non-life insurer in Turkey

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.







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

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: Motor accidents kill 21,000 in last 4 years

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.