STATISTICS: Turkey, Q3 2021: State-owned insurers' aggregate GWP crossed the 1 bn euro threshold

10 November 2021 — Andrei Victor
Total premium income in the Turkish insurance sector increased by 19.14% y-o-y to TRY 70.60 bn (EUR 6.85 billion) in Q3 2021, according to preliminary data released by the Insurance Association of Turkey (TSB).

Premium production in the life sector jumped by 9.66% y-o-y to TRY 12.33 billion, while on the non-life side, the GWP increased by 21.37% y-o-y to TRY 58.26 billion. At the end of Q3 2021, the business lines with the largest shares in total GWP were: MTPL (22.68%), life (17.47%), property lines (23.54%), MoD (13.35%) and health (12.63%).

Of the 61 active members of TSB, the company which generated the largest premium volume was the non-life state-owned Turkiye Sigorta with a 10.93% market - GWP of TRY 7.72 billion, followed by Anadolu Sigorta (market share of 9.8%) and Allianz Sigorta (9.44%). Turkiye Hayat ve Emeklilik - the life insurance arm of the Turkish State - ranked 7th with GWP of TRY 2.73 billion (3.87%).

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