Total premium generated in the Türkiye insurance market increased in local currency by almost 30.37% during Q1 2026 to TRY 396.4 billion (EUR 7.78 billion), according to data released by the Insurance Association of Turkey (TSB). The growth pace slowed as compared with the previous year but remained still very high.

In European currency, as a result of the devaluation of the Turkish lira in relation to the euro, the overall market growth rate was +4.2%. It is also worth noting that the market grew quasi at the same pace with inflation, which in the beginning of 2026 was one of lowest in recent times, in the range 30%-32%.

Q1 2026 non-life insurance premiums grew by 27.58% in nominal terms to TRY 339.97 billion or EUR 6.67 billion. Life insurance premiums increased by 50.13% y-o-y to TRY 56.45 billion (~EUR 1.1 billion).

Of the 66 active members of TSB, the company which generated the largest premium volume was the non-life state-owned Türkiye Sigorta with a 13.57% market share - GWP of TRY 53.8 billion, followed by Allianz Sigorta (market share of 10.68%) and Anadolu Anonim Turk Sigorta Sirketi (7.46%).

Access xprimm.com and download the Turkish insurance market statistics.