STATISTICS: TURKISH market ends the first quarter with a 13% increase in GWP
The GWP portfolio was dominated by property insurance (fire, allied perils & other damages to property insurance, summed) - 28.8% of the total, followed by motor vehicle liability (17.5% of the total GWP), Motor Hull (16.2%), health (14.8%) and life insurance (11.9%). The remaining 10.7% was related to other non-life insurance classes.
At the same time, the value of claims paid by the local insurers increased 15.6% y-o-y to TRY 3.7 billion (EUR 1.3 billion). Of this total, about 27% were related to Motor TPL policies, 23% - voluntary Motor Hull insurance, 16% - health insurance, 15% - property line and 14% - life indemnities.
The market ranking was led by ALLIANZ Sigorta (11.4% market share), followed by AXA Sigorta (10.6%), ANADOLU Sigorta (10.3%), MAPFRE Genel Sigorta (5.9%) and AK Sigorta (5.8%).
Access www.xprimm.com and download the 1Q2015 Turkish insurance market statistics.
Market portfolio (in EUR and TRY):
- Gross written premiums
- Paid claims
- Growth rates
- All insurance market
- Life insurance
- Motor Hull
- Fire and allied perils
- Damages to property