Middle East News - Turkey: Premiums surge 19% to over US$10 bln in 2015
Source: Middle East Insurance Review | Mar 2016
The Turkish insurance industry posted total premiums of TRY31.25 billion (US$10.7 billion) for 2015, a growth of 19.4% over 2014.
This was driven by the non-life insurance sector, where premiums surged by over 20% to TRY27.26 billion last year, reported the Insurance Gazette.
Total premiums in Turkey are expected to grow to TRY34.1 billion this year, up by 10% from last year, according to the forecast made by Deputy Prime Minister Mehmet Simsek, before a parliamentary budget commission, reported Reuters.
TRY1 = US$0.34