Total premium generated in the Turkiye insurance market increased in local currency by 140.86% during January-March 2023 to TRY 103.79 billion (EUR 4.98 billion), according to the quarterly figures released by the Insurance Association of Turkey (TSB).

Q1 2023 non-life insurance premiums grew by 146.50% in nominal terms to TRY 91.94 billion or EUR 4.41 billion. Life insurance premiums increased by 104.54% y-o-y to TRY 11.85 billion (EUR 568.52 million).

Of the 67 active members of TSB, the company which generated the largest premium volume was the non-life state-owned Turkiye Sigorta with a 11.73% market - GWP of TRY 12.18 billion, followed by Allianz Sigorta (market share of 10.19%) and Anadolu Anonim Turk Sigorta Sirketi (8.81%).

Access xprimm.com and download the Q1 2023 Turkiye insurance market statistics.