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


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)

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

Insurance statistics

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2009Turkish insurance market overview pdf
2009Market portfolioxls
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1Q2017 Market Portfolio

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TURKEY: Total insurance premiums forecast to rise by 10% this year

The total insurance premiums of the Turkish insurance industry will grow to TRY34.1 billion this year, up by 10% from last year. This forecast was made by Deputy Prime Minister Mehmet Simsek who spoke before a parliamentary budget commission last Thursday, reported Reuters.

TURKEY: Insurers concerned about rising mandatory TP auto loss

The insurance industry in Turkey reported a loss of TRY1.7 billion in the compulsory motor insurance business for the first nine months of last year, according to the Insurance Association of Turkey (TSB) in a statement. The figure is three times the losses of TRY566.7 million reported for this class of business for the first three quarters of 2014 and almost double the losses of TRY884.8 million suffered for the whole of 2014.

TURKEY: Minimum wage hike to place TL 2.5 billion burden on insurance sector

A recent minimum wage increase is expected to drastically increase auto insurance payout rates for accidents involving injury or death, resulting in a TL 2.5 billion annual burden on the insurance sector, Insurance Association of Turkey (TSB) President Ramazan Ulger told the Hurriyet daily on Wednesday.

MetLife Inc Won Best Life Insurance Company in TURKEY' Award

MetLife Inc has won the prestigious "2015 Best Life Insurance Company in Turkey" award organized by Global Banking and Finance Review, demonstrating its commitment to excellence in products and services, financial soundness, market knowledge and understanding, risk management, effective customer servicing tools and market share.

TURKEY: Escalating violence hits insurance sector

Insurance experts have complained about their inability to visit Turkey's eastern region for damage assessment amid escalating violence. Sector representatives said they are concerned for their safety and ask for help from security forces to do their jobs in the region.