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

23 February 2017 — Vlad BOLDIJAR
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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