Turkey

Location:
Southeastern Europe and Southwestern Asia (that portion of Turkey west of the Bosporus is geographically part of Europe), bordering the Black Sea, between Bulgaria and Georgia, and bordering the Aegean Sea and the Mediterranean Sea, between Greece and 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

Currency: Turkish lira (TRY)
1 EUR = 3.7166 Turkish lira - TRY (December 31st, 2016)
1 EUR = 3.1896 Turkish lira - TRY (December 31st, 2015)
1 EUR = 2.8323 Turkish lira - TRY (December 31st, 2014)
1 EUR = 2.9397 Turkish lira - TRY (December 31st, 2013)
1 EUR = 2.3565 Turkish lira - TRY (December 31st, 2012)
1 EUR = 2.4556 Turkish lira - TRY (December 31st, 2011)
1 EUR = 2.0650 Turkish lira - TRY (December 31st, 2010)

Sources:
Association of Insurance and Reinsurance Companies of Turkey
Central Bank of the Republic of Turkey

Insurance statistics
1H2017	Market portfolio	xlsx
1H2017	Insurance Companies Rankings	xlsx
1Q2017	Market Portfolio	xlsx
1Q2017	Insurance Companies Rankings	xlsx
FY2016	Market Portfolio	xlsx
FY2016	Insurance Companies Rankings	xlsx
3Q2016	Market Portfolio	xlsx
3Q2016	Insurance Companies Rankings	xlsx
1H2016	Market Portfolio	xlsx
1H2016	Insurance Companies Rankings	xlsx
1Q2016	Market Portfolio	xlsx
1Q2016	Insurance Companies Rankings	xlsx
FY2015	Market Portfolio	xlsx
FY2015	Insurance Companies Rankings	xlsx
3Q2015	Market portfolio	xlsx
3Q2015	Insurance companies rankings	xlsx
1H2015	Market Portfolio	xlsx
1H2015	Insurance Companies Rankings	xlsx
1Q2015	Market portfolio	xlsx
1Q2015	Insurance companies rankings	xlsx
FY2014	Market Portfolio	xlsx
FY2014	Insurance Companies Rankings	xlsx
3Q2014	Market Portfolio	xlsx
3Q2014	Insurance Companies Rankings	xlsx
1H2014	Insurance market overview	pdf
1H2014	Market Portfolio	xlsx
1H2014	Insurance Companies Rankings	xlsx
1Q2014	Insurance Companies Rankings	xlsx
1Q2014	Market Portfolio	xlsx
FY2013	Insurance market overview	pdf
FY2013	Insurance Companies Rankings	xlsx
FY2013	Market Portfolio	xlsx
3Q2013	Insurance Companies Rankings	xlsx
3Q2013	Market Portfolio	xlsx
1H2013	Insurance market overview	pdf
1H2013	Insurance companies rankings	xlsx
1H2013	Market portfolio	xlsx
1Q2013	Insurance Companies Rankings	xlsx
1Q2013	Market Portfolio	xlsx
FY2012	Insurance market overview	pdf
FY2012	Market Portfolio	xlsx
FY2012	Insurance Companies Rankings	xlsx
3Q2012	Market portfolio	xlsx
3Q2012	Insurance companies rankings	xlsx
1H2012	Insurance market overview	pdf
1H2012	Market portfolio	xlsx
1H2012	Insurance companies rankings	xlsx
1Q2012	Insurance Companies Rankings	xlsx
1Q2012	Market Portfolio	xlsx
FY2011	Insurance market overview	pdf
FY2011	Market Portfolio	xlsx
FY2011	Insurance Companies Rankings	xlsx
3Q2011	Market Portfolio	xlsx
3Q2011	Insurance Companies Rankings	xlsx
1H2011	Market portfolio	xlsx
1H2011	Insurance companies rankings	xlsx
4M2011	Insurance market overview	pdf
4M2011	Market portfolio and rankings	xlsx
2010	Insurance market overview	pdf
2010	Market portfolio and rankings	xlsx
2009	Turkish insurance market overview	pdf
2009	Market portfolio	xls
2009	Life insurance rankings	xls
2009	Non-Life insurance rankings	xls
1H2010	Turkish insurance market overview	pdf
1H2010	Market portfolio	xls
1H2010	Life insurance rankings	xls
1H2010	Non-Life insurance rankings (total & main lines)	xls

Turkey 1H2018 Rankings

Turkey 1H2018 Market Portfolio

See all statistics

TURKEY to create a "Pool system" for MTPL

Editor: Vlad BOLDIJAR
2017-06-29

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.

TURKEY: Insurance tariff cuts to boost motorcycle sales this year

2017-06-15

Motorcycle sales in Turkey are expected to rise by 10% this year due to a decrease in compulsory insurance tariff rates, according to the head of the Motorcycle Industry Association.

Turkey: Drivers involved in more than 3 road accident a year at risk to lose their driving licence

Editor: Daniela GHETU
2017-06-15

As part of a project launched by Turkish insurers to prevent motor premiums escalation and reduce the number of road accidents, drivers involved in more than three road accident per year may lose their driving licence.

Edmond Wodehouse (JLT Brokerlik) - Isil Cayirli Ketenci (Mercer) team won the 31st Milli Re International Insurance Tennis Tournament

Editor: Daniela GHETU
2017-06-08

Organized by Milli Re, the 31st round of the traditional "International Insurance Tennis Tournament" took place at Miltas - Suadiye Sports Complex, on 02-04 June 2017.

TURKEY to launch interest-free, participation insurance system

2017-05-30

To expand the range of interest-free instruments, Turkey is preparing to introduce Islamic insurance into the financial system where members contribute money into a pooling system to guarantee each other against loss or damage.

2017-05-30

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

Editor: Vlad BOLDIJAR
2017-05-11

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.

TURKEY: Kuwait's Gulf Insurance acquires AIG Sigorta Anonim Sirketi

2017-05-03

Kuwait's Gulf Insurance acquires acquires 100 percent stake in Turkey's AIG Sigorta Anonim Sirketi for USD 47.9 million.

TURKEY: GM of Groupama Insurance, is retiring from office

2017-03-23

Having been assigned as the Assistant General Manager of Groupama in 2008 following the acquisition of Guven Insurance and reassigned as the General Manager of Groupama Insurance Inc. and Groupama Pension Inc., Ramazan Ulger will be retiring from office on April 30th, 2017 as a result of the mutual decision made with the Group Management. Recruitment process is continuing for the new General Manager and will be announced briefly.

TURKEY: Generali Insurance Dr. Gokhan Yildirim:An Entrepreneur who did not Insure his/her Enterprise cannot Succeed

2017-03-15

However, there are many definitions for an entrepreneur, we can briefly define it as a person who takes risks. Yet, we should note also that an entrepreneur never takes uncalculated risks. An entrepreneur tries to make his/her desires come true taking the risk at the right time having tracked the opportunities.

TURKEY: Will NN Life and Pension Insurance be affected in case of an economic sanction against the Netherlands?

2017-03-15

On March 11th, 2017 it was announced that the landing permit was revoked for Mevlut CAVULOGLU, Minister of Foreign Affairs of Turkish Republic. In this process, the Turkish government announced that they are going to impose sanctions against the Netherlands if such practice continues.

TURKEY: Zurich launches first retail cyber protection insurance product

2017-03-09

In 2016 there were a number of huge leaks of personal data of Turkish citizens online. It's created a massive demand for products to insure individuals and businesses from losses caused by cyber crime. Yilmaz Yildiz, CEO of Zurich Turkey, outlines the first product they've brought to market to address this demand.

TURKEY: Meliha Yardim is assigned as the Human Resources Director of NN Life Insurance and Pension

2017-03-09

Meliha Yardim is assigned as the Human Resources Director of NN Life Insurance and Pension Previously was serving as the Director of Expertise Center and Business Partnership, Meliha Yardım will be responsible for the functions of HR in her new assignment.