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


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Latest news

Turkey to establish a nuclear insurance pool, under TCIP's management

TCIP - the Turkish Natural Catastrophe Insurance Pool will sett up a nuclear insurance pool to offer EUR 700 million of protection for each of the country's first nuclear power plants, soon to be built in Akkuyu and Sinop, according to Berat ALBAYRAK, minister of Energy and Natural Resources, reports Hurriyet.


TURKEY: Motor accidents kill 21,000 in last 4 years

In the last four years, more than four million traffic accidents occurred in Turkey, killing 21,000 people and injuring more than 674,000, according to data from the Turkish General Directorate of Security.






TURKEY: Average MTPL premium falls by 24% in wake of price cap

The average premium for mandatory third party liability motor insurance (MTPL) fell by 24% from TRY864 (US 252) in March to TRY660 in July, since the implementation of a premium ceiling on 12 April, notes Deputy Prime Minister in charge of the economy Mehmet Simsek.


TURKEY: Insured losses from Turkish storms rise

Aon Benfield's latest Impact Forecasting weekly cat report has predicted that forecast insured losses from a brace of recent storm outbreaks in Turkey could reach USD 441mn.



TURKISH storm costs rise

Forecast insured losses from two recent storm outbreaks in Turkey could reach USD441mn, according Aon Benfield's latest Impact Forecasting weekly cat report.


TURKEY Insurance Companies Plunge on Second Freak July Storm

The Borsa Istanbul Insurance Sector Index dropped as much as 2.5 percent on Friday after a brief but ferocious storm in Istanbul on Thursday showered the city with hail as large as golf balls, shattering windows, denting vehicles and damaging buildings.




TURKEY to create a "Pool system" for MTPL

The Turkysh authorities are considering to create a "Pool system" for the distribution of MTPL premiums and claims for high risk groups of vehicles. The pool would be managed by the Turkish Motor Vehicles Bureau, under the Treasury's supervision.