Turkey: Premiums up 20.5% to $5bn in 1H
Source: Middle East Insurance Review | Sep 2018
The insurance sector in Turkey generated total premiums of TRY27.9bn ($5bn) in the first half of this year, an increase of 20.5% compared to the corresponding period of the previous year, according to data released by the Turkish Insurance Association (TSB). After taking into account inflation, real growth in the sector was 4.4%.
Non-life premiums reached TRY24bn in 1H18, 21.2% higher than in the first half of last year. Life premiums stood at TRY3.85bn, 16.7% higher.
Among the biggest classes of business, compulsory motor third party liability insurance premiums grew by 33.9% to TRY7.5bn in 1H2018. Motor own damage premiums rose by 13% to TRY3.7bn while health premiums increased by 22.3% to TRY3.35bn. M
TRY1 = $0.18