Turkey: Premiums up 15% to $9.6bn in 2018
Source: Middle East Insurance Review | Mar 2019
The Turkish insurance industry has posted a y-o-y growth of 14.7% in total premiums to TRY50.42bn ($9.6bn) in 2018, according to data released by the Insurance Association of Turkey (TSB).
Of this total, non-life premiums soared by 17.1% to TRY43.6bn, while life premiums stood at TRY6.8bn, representing marginal growth of 1%.
Table 1 shows the top five classes of non-life business in 2018 by premium production.
In terms of top-five market players, Allianz generated the highest premiums of TRY5.5bn (+12% y-o-y) in 2018, followed by Anadolu with TRY5.0bn (+16% y-o-y), AK with TRY3.3bn (+29% y-o-y), AXA with TRY3.1bn (+15% y-o-y) and Mapfre (-4% y-o-y). M
TRY1 = $0.19