"When we look at the Turkish insurance market, we see that this market continues to grow in a fairly stable and sustainable manner. Currently, 68 insurance companies operate in the sector. A few years ago, this figure was more than 70, but recently consolidation trends have been observed in the market", Ozgur Obali said.
According to him, currently about 34 million people are active insured persons in Türkiye. "This is equivalent to about half of the population with insurance potential. When passively insured people are included, this figure rises to 45 million”, he explained.
When looking at the breakdown by types of insurance, it can be seen that the Turkish insurance market has a relatively balanced structure with Motor hull and MTPL still keeping a large share of approximately half of the total portfolio. However, this share is gradually decreasing, which is considered a positive trend. Health insurance has gained a significant share of the market, demonstrating record growth in recent years. This also raises hopes for the future of the insurance sector, according to Secretary General of the Insurance Association of Türkiye.
Ozgur Obali also said that integration of the Turkic insurance space will serve regional economic stability. According to him, strengthening the Turkic insurance space, increasing mutual trust, and integrating the regional market are among the main goals for the future.
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