STATISTICS: The Turkish market exceeded TRY 40 billion in GWP last year

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


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