According to the quarter figures published by TSB - Association of Insurance and Reinsurance Companies of Turkey - at the end of September 2022 the local insurance market increased by 108% y-o-y reaching TRY 146.9 billion (~EUR 8.1 billion). In European currency, due to the exchange rates differences, the market change was only +18% y-o-y.

Premium production in the life sector jumped by 67% y-o-y to TRY 20.5 billion, while on the non-life side, the GWP more than doubled (+116.8% y-o-y) to TRY 126.3 billion, the largest increases being posted by motor subclasses: MoD +187% y-o-y and MTPL +119% y-o-y.

Of the 64 active members of TSB, the company which generated the largest premium volume was the state insurer Turkiye Sigorta (10.9% market share) followed by Anadolu Sigorta (market share of 10.5%) and Allianz Sigorta (9.1%).

Access XPRIMM Database and download the latest Turkish insurance market statistics.