The Turkiye insurance sector grew by 123.2% to TRY 235 billion (EUR 11.8 billion) in 2022, according to data from the Insurance Association of Turkiye (TSB). In European currency, due to the exchange rates differences, the market change was only +69% y-o-y.

Premium production in the life sector jumped by 74% y-o-y to TRY 30.9 billion, while on the non-life side, the GWP more than doubled (+133% y-o-y) to TRY 204.1 billion, the largest increases over 100% being posted by the two motor subclasses - MoD +211.5% y-o-y and MTPL +147% y-o-y, and health insurance: +130% y-o-y.

Of the 64 active members of TSB, the company which generated the largest premium volume was the state insurer Turkiye Sigorta (10.7% market share) followed by Anadolu Sigorta (market share of 10.1%) and Allianz Sigorta (9.5%).

Access XPRIMM Database and download the latest Turkiye insurance market statistics.