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 3Q2021 Market Portfolio

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Turkey 3Q2021 Rankings


See all statistics

Latest news








Turkey: There is a need of a single law for the Turkish insurance industry

The Turkish insurance industry is covered by different pieces of legislation which need to be unified in a single law, Fahri ALTINGOZ, Chairman of the Turkish Insurance Practitioners Association stated. Insurance companies are now waiting for the government to draw up the unified insurance act.


Groupama launched Driving Academy in Turkey

French insurer Groupama announced its Turkish unit Groupama Sigorta launched in mid-December its Driving Academy, in a partnership with Intercity Driving Center, the most recognized driving center in Turkey.



Turkey increased the maximum coverage of TCIP policies to EUR 31.5 k, while the tarrifs were reduced by 10%

The Insurance and Private Pensions Regulation and Supervision Agency (SEDDK) has increased the the maximum coverage amount for compulsory earthquake insurance policies administrated by DASK (TCIP - the Natural Disaster Insurance Institution) from TRY 240 k to TRY 268 k (~EUR 31.5 k). At the same time, the tariffs of the compulsory earthquake insurance scheme premiums were reduced by 10% for the policies issued in 2021.