News - Insurance

STATISTICS: TÜRKIYE 1H2025: Market expands 52%, but MTPL losses weight on profitability

Türkiye’s insurance market continued to expand rapidly in the first half of 2025, with total gross written premiums (GWP) up 51.6% year-on-year to TRY 576.75 billion (approx. EUR 12.35 billion, +14.3%), according to the Insurance Association of Türkiye (TSB). The sharp 30% depreciation of the Turkish lira against the euro significantly altered growth figures when expressed in foreign currency, highlighting the ongoing impact of exchange rate volatility on market performance.





CYPRUS: The merger of ERB Cyprialife with Hellenic Life and ERB Asfalistiki with Pancyprian Insurance creates two very strong insurance companies

The merger of the Cypriot insurance companies of the Eurobank Group was completed on 10 October 2025, with the transfer of all insurance portfolios, assets and liabilities of Hellenic Life Insurance Company Limited and Pancyprian Insurance Limited to ERB Cyprialife Limited and ERB Asfalistiki Limited respectively, as Eurobank Limited announced, insuranceforum.gr reports.

GEORGIA: Deposit insurance limit to increase

Starting April 1, 2026, the maximum deposit insurance limit in Georgia will be increased from GEL 30,000 to GEL 50,000 (equivalent to USD 18,400), according to a post on the Faeton Telegram channel.




Sava Re’s ‘A’ ratings affirmed by AM Best, outlook stable

On 9 October 2025, AM Best affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Pozavarovalnica Sava d.d. (Sava Re) (Slovenia), the operating holding company of the Sava Insurance Group. The outlook of these Credit Ratings (ratings) is stable, Sava Re announced.

TURKIYE: Digital transformation is in almost every aspect of insurance operations

The Turkish insurance industry is seeing the impact of digital transformation in almost every aspect of insurance functions, from customer relations to preventing insurance fraud, as Mr Emine Feray Sezgin, vice president of the Insurance and Private Pension Regulation and Supervision Agency (SEDDK) said at the recent 4th International Insurance Summit organized by the Insurance Association of Turkiye (TSB).

AZERBAIJAN: The Central Bank explains alternative life insurance offerings

The existing life insurance products in Azerbaijan will be presented in a new format. Alternative life insurance offerings include burial insurance for final expenses, critical illness cover for serious health issues, mortgage protection insurance to cover home loans, and guaranteed issue policies for those who can't get traditional coverage.