Total GWP in the Turkish insurance market exceeded TRY 40 billion (about EUR 11 billion) last year, an increase of more than 30% compared to the previous year, according to preliminary data from the Insurance Association of Turkey - TSB. The TSB figures also show that Turkey's insurance sector grew by 20.2% in real terms last year when the annual inflation rate was 8.5%.

Of the aggregate figure, the non-life sector contributed with TRY 35.4 billion or 87.6%, while the life segment generated TRY 5.0 billion (12.4% of total). In terms of growth rates, the non-life sector grew by 30% while the life segment was up by 34%.

In 2016, of the 60 active members of local asociation, the company which generated the largest premium volume was ALLIANZ Sigorta with TRY 5.8 billion (market share of 14.3%), followed by ANADOLU Sigorta with TRY 4.5 billion (11.1%) and AXA Sigorta with TRY 3.6 billion (8.8%).

Access www.xprimm.com and download the FY2016 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