Turkey: Non-life sector turns in positive return in 1H

Source: Middle East Insurance Review | Dec 2016

The rate of return on non-life premiums in Turkey stood at 0.8% for the first six months of this year, compared to a negative rate of 1.9% in 2015, according to data published by the Turkey Insurance Association.

In the first half of this year, the country’s 37 general insurers reported a profit of TRY150.2 million (US$45.2 million) on premiums of TRY18.2 billion, representing a rate of return of 0.8%.

In comparison, the insurers reported a loss of TRY514.2 million on total premiums of TRY26.7 billion for the whole of last year, representing a negative return of 1.9%.

In terms of premiums, the top five insurers in the first half of the year were: Allianz Insurance (TRY2.8 billion), Anadolu Insurance (TRY2.4 billion), Axa Insurance (TRY2 billion), Mapfre General Insurance (TRY1.4 billion) and Sompo Japan Insurance (TRY1.1 billion).

TRY1 = US$0.30

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