STATISTICS: TURKISH insurers' Q1 GWP dynamic affected by the TRY depreciation against euro

6 June 2019 — Andrei Victor
Turkish insurance market's GWP was of TRY 17.5 billion (about EUR 2.7 billion) in Q1 2019, ~20% up y-o-y in nominal terms, according to the preliminary data published by the local association - TSB. In European currency, the rate was negative (-7.7% y-o-y) due the depreciation registered by the local currency against euro (6.3188 TRY/EUR, March 31st, 2019 vs. 4.8673 TRY/EUR, March 31st, 2018).

Of the 60 active members of TSB, the company which generated the largest premium volume was ALLIANZ Sigorta with TRY 1.7 billion (market share of 9.86%), followed by ANADOLU Sigorta with TRY 1.6 billion (9.19%) and AkSigorta with TRY 1 billion (6.38%).

Of the total, the non-life sector contributed with TRY 15 billion or 86%, while the life segment generated TRY 2.5 billion (14% of total). In terms of growth rates, the non-life sector grew by 18.8% while the life segment was up by 26.4%.

Access and download the 1Q2019 Turkish insurance market statistics.

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