STATISTICS: The TURKISH market was up by a third amid the 96% GWP increase on MTPL subclass

8 December 2016 — Vlad BOLDIJAR
First three quarters of 2016 represented for the Turkish insurance market a nominal growth in written premiums of 32.1%, up to TRY 29.1 billion (EUR 8.7 billion), according to the data published by the Association of Insurance and Reinsurance Companies of Turkey.

Life insurance line registered a y-o-y growth rate of almost 21% to TRY 3.4 billion, while the non-life side was up by 33.7% y-o-y to TRY 25.8 billion, due the 95.7% growth rate reported by the Motor Vehicle Liability subclass.

Of the 61 active insurers members of local asociation, the largest three as GWP were ALLIANZ Sigorta, ANADOLU Sigorta and AXA Sigorta. The three mentioned insurers generated toghether more than one third of total market GWP.

Access and download the 3Q2016 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