STATISTICS: TURKEY, 1Q2016: insurance sector shows impressive growth

In the first quarter of 2016, total gross written premiums in the Turkish insurance market reached TRY 10.73 billion (EUR 3.3 billion), a 35.6% increase over the same quarter last year, according to data from the Insurance Association of Turkey (TSB).

Non-life insurance GWP was up by 38.25% to TRY 9.63 billion while the life insurance segment reported a 16.31% y-o-y growth-rate.

The growth in premiums was driven by motor third-party liability insurance where the value of GWP jumped by 115.72% to TRY 2.99 billion, being the largest insurance class of business, contributing with almost 29% of aggregate GWP.

Access www.xprimm.com and download the 1Q2016 Turkish insurance market statistics.

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