Turkey: Market surges by 21% in 1H
Source: Middle East Insurance Review | Sep 2020
The Turkish insurance market generated total premiums of TRY40.22bn ($5.6bn) in the first half of this year, an increase of 21% compared to the corresponding period in 2019, according to data released by the Insurance Association of Turkey (TSB).
The non-life sector posted premium of TRY32.9bn (14.6% increase) while the life sector reported premium of TRY7.32bn (59% increase).
The branch with the highest premium production in the first half of 2020 was the motor third party liability branch with premium of TRY9.5bn.
Total contributions in the first six months of the year from participation insurance increased by 14.4% to TRY2,54bn. While TRY1.9bn was generated from the non-life segment, TRY127m was written on the life side. M
TRY1 = $0.14