Location map
author: OCHA/ ReliefWeb

- 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.

- 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
Pop. density*:104.6people/km2
GDP*:611.4EUR billion

European Union:

Currency: Lira
Code: TRY
Since: 2005

Insurance market portfolio
* 2018 estimates
Overall Property*:22%
Overall Motor*:43%




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Turkey FY2020 Rankings

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Turkey FY2020 Market Portfolio

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Latest news

Turkey increased the maximum coverage of TCIP policies to EUR 31.5 k, while the tarrifs were reduced by 10%

The Insurance and Private Pensions Regulation and Supervision Agency (SEDDK) has increased the the maximum coverage amount for compulsory earthquake insurance policies administrated by DASK (TCIP - the Natural Disaster Insurance Institution) from TRY 240 k to TRY 268 k (~EUR 31.5 k). At the same time, the tariffs of the compulsory earthquake insurance scheme premiums were reduced by 10% for the policies issued in 2021.

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).