Turkey

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Location map
author: OCHA/ ReliefWeb


Location:
- Southeastern Europe and Southwestern Asia (the West of the Bosporus portion is geographically part of Europe), bordering the Black Sea, the Aegean Sea and the Mediterranean Sea;
- Neighbours: Cyprus, Greece, Bulgaria, Georgia, Armenia, Azerbaijan, Iran, Iraq, Syria.

Climate:
- temperate;
- hot, dry summers with mild, wet winters;
- harsher in interior.

Natural hazards:
- severe earthquakes, especially in northern Turkey, along an arc extending from the Sea of Marmara to Lake Van.

Macro indicators
* 2018 estimates
Surface:783,356 km2
Population*:82.0million
Pop. density*:104.6people/km2
GDP*:611.4EUR billion
GDP/capita*:7,456.1EUR

European Union:
Candidate

Currency: Lira
Code: TRY
Since: 2005


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:13%
TOTAL NON-LIFE*:87%
Overall Property*:22%
Overall Motor*:43%

Sources:



 


Statistics

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Turkey 1H2020 Market Portfolio

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Turkey 1H2020 Insurance Companies Rankings


See all statistics

Latest news



TURKEY: Average MTPL premium falls by 24% in wake of price cap

The average premium for mandatory third party liability motor insurance (MTPL) fell by 24% from TRY864 (US 252) in March to TRY660 in July, since the implementation of a premium ceiling on 12 April, notes Deputy Prime Minister in charge of the economy Mehmet Simsek.


TURKEY: Insured losses from Turkish storms rise

Aon Benfield's latest Impact Forecasting weekly cat report has predicted that forecast insured losses from a brace of recent storm outbreaks in Turkey could reach USD 441mn.



TURKISH storm costs rise

Forecast insured losses from two recent storm outbreaks in Turkey could reach USD441mn, according Aon Benfield's latest Impact Forecasting weekly cat report.


TURKEY Insurance Companies Plunge on Second Freak July Storm

The Borsa Istanbul Insurance Sector Index dropped as much as 2.5 percent on Friday after a brief but ferocious storm in Istanbul on Thursday showered the city with hail as large as golf balls, shattering windows, denting vehicles and damaging buildings.




TURKEY to create a "Pool system" for MTPL

The Turkysh authorities are considering to create a "Pool system" for the distribution of MTPL premiums and claims for high risk groups of vehicles. The pool would be managed by the Turkish Motor Vehicles Bureau, under the Treasury's supervision.





TURKISH automotive sector's share in tax revenues recorded at 12.8 pct

Turkey's automotive sector, considered to be the country's economic locomotive, paid up more than TL 59 billion (USD 16.60 billion) in taxes last year. Finance Minister Naci Agbal pointed out these figures about the sector at the Authorized Automotive Dealers Association Congress last April. Calling the automotive sector an important source of income, Ağbal said, in 2016, they obtained TL 18.9 billion in excise duty, TL 10-15 billion in VAT, TL 10 billion in motor vehicle taxes, TL 10-15 billion in income tax, SGK and withholding.

TURKEY: GIG aquired AIG Sigorta for USD 48 million

Kuwait's Gulf Insurance Group acquires 100% stake in Turkey's AIG Sigorta Anonim Sirketi (owned by Toronto-headquartered FAIRFAX Financial Holdings) for USD 47.9 million, Reuters annouced.