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 3Q2020 Market Portfolio

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Turkey 3Q2020 Insurance Companies Rankings


See all statistics

Latest news







Türk Reasürans A.Ş celebrates its 1st anniversary

Türk Reasürans A.Ş, which was established with the aim of contributing to the objectives of the New Economic Program, namely "Economic Balancing" and "Healthy and Sustainable Growth" in relation to the insurance market, increasing the local reinsurance capacity and ensuring resource efficiency, has completed its first year.





STATISTICS: TURKEY, 1H2020: Local insurance market expanded by 21%

The Turkish insurance market generated total premium of TRY 40.2 billion (~EUR 5.2 bilion*) in the first half of this year, an increase of 21.0% compared to the corresponding period in 2019, according to data released by the Insurance Association of Turkey (TSB).

ALLIANZ Group opened earthquake & fire research center in Istanbul

A new earthquake and fire research center in Turkey expands the family of Allianz Group's ALLIANZ Centers for Technology, the German insurer announced in a statement. It conducts earthquake, automotive, transport and fire tests, simulations and practical training in Istanbul.





Milli Re's premium production increased by 26% in 2019

As of 2020 renewals, Turkish reinsurer Milli Re maintained its market share of 27% in the local insurance market by leading the reinsurance treaties of 17 ceding companies buying reinsurance protection on proportional bouquet basis, the company's Director and General Manager, Fikret Utku OZDEMIR stated in the Annual Report for 2019.


TURKEY: Over 8 milion homes still need to be covered by earthquake insurance

More than 8 million residential properties in Turkey still need to be covered by earthquake insurance, according to Resit CAKAS, President of the Association of Insurance Agencies (SAB), informed Middle East Insurance Review. Resit CAKAS noted that at present, in Turkey approximately 9.6 million houses are insured.