STATISTICS: TURKEY, 1H2017: Life insurance share in total GWP reached 14% due to the strongs increase in premiums

The first half of 2017 represented for the Turkish insurance market a nominal growth in GWP of almost 12% to TRY 23.1 billion (EUR 5.8 billion), according to the data published by TSB - the local professional association.

Of the aggregate figure, the non-life sector contributed with TRY 19.8 billion or 85.7%, while the life segment generated TRY 3.3 billion (14.3% of total).

In terms of growth rates, the non-life sector grew by 7.6% while the life segment was up by 47.6%.

In non-life segment, it is worth to mention the 10.7% decrease in MTPL GWP, due the implementation of a premium ceiling in mid-April.

In the analised period, the largest insurer in the country in terms of GWP was ALLIANZ Sigorta with TRY 2.6 billion (market share of 11.3%), followed by ANADOLU Sigorta with TRY 2.3 billion (10.1%) and AXA Sigorta with TRY 1.4 billion (6.1%).

Access www.xprimm.com and download the 1H2017 Turkish insurance market statistics.

Market portfolio (in EUR and TRY):
  • Gross written premiums
  • Paid claims
  • Growth rates
Market rankings in EUR and TRY (GWP/ Market shares/Growth rates):
  • Total market
  • Life insurance
  • Non-life
  • Accidents
  • Health
  • Motor Hull
  • Fire and allied perils
  • Damages to property
  • Motor vehicle liability
  • GTPL

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