The Turkish insurance sector demonstrated strong growth in the first half of 2025, according to data released by the Insurance Association of Turkiye (TSB).The overall real growth rate for the insurance industry was 12.3%.
Total premiums generated climbed by 51.6% to TRY576.8bn ($14.2bn) in the first six months of this year from TRY380.4bn in the corresponding half of 2024. Non-life insurance accounted for 86.4% or TRY498.3bn of the total premiums. Life insurance business raked in premiums of TRY32.5bn, representing a market share of 13.6%. In the corresponding half last year, these proportions were 88.6% and 11.4%, respectively.
Real growth
Non-life insurance production increased by 47.9% year-over-year, while life insurance saw a strong 81.2% growth. In real terms, non-life insurance saw a 9.5% increase, while life insurance rose by 34.1%.
Participation insurance or takaful grew by 53.7% year on year, reaching TRY32.5bn for the first half of 2025.
By branch, traffic insurance saw the largest premium volume during the first half-year. The premiums totalled TRY143.9bn, with year-on-year nominal growth of 55.8% and real growth of 15.4%. Health insurance followed as the second biggest branch with premiums of TRY107.5bn, with nominal growth of 70.5% and real growth of 26.2%.