STATISTICS: Turkish insurers' GWP almost doubled in local currency in H1 2022

8 September 2022 — Andrei Victor
The GWP of Turkish-based insurers rose 93% on the year in the first six months of 2022, reaching TRY 91 billion (EUR 5.2 billion), data of the Insurance Association of Turkey showed.

In European currency, due the depreciation of TRY from 1 EUR = 10.3435 TRY (June 30th, 2021) to 1 EUR = 17.4014 TRY (June 30th, 2022) the GWP y-o-y growth rate was 14.85%.

Non-life premiums increased by 97% on the year to TRY 77.7 billion, while Life premiums increased by 73% y-o-y to TRY 13.2 billion.

During the first six months of the year, there were active 63 insurers according to the statistics presented by the Insurance Association of Turkey. The largest insurers in the country in terms of GWP were Turkiye Sigorta (12.4% market share), followed by Anadolu Anonim Turk Sigorta Sirketi (10%) and Allianz Sigorta (9%).

Access and download the H1 2022 Turkish insurance market statistics.

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