Turkiye: Real topline performance of insurance market flat in 1Q2026
Source: Middle East Insurance Review | May 2026
The Turkish insurance market posted total premiums of TRY396.4bn ($8.8bn) for the first quarter of 2026, a jump of 30.4% year on year, making a strong start to 2026, data released by the Insurance Association of Turkiye indicate.
However, after taking inflation into account, the insurance market showed a real contraction of 0.45% in 1Q2026.
Monthly data showed that total premiums shrank by 4% year on year in January. The real year-on-year change for the first two months was -0.60%, indicating an improvement in the single month of February. This means that the single month of March also produced positive real growth as the cumulative real decline was only 0.40%.
In 1Q2026, non-life branches produced premiums of TRY340.0bn, representing 85.8% of the overall insurance market’s total. The non-life segment grew by a nominal 27.6% y-o-y.
The life insurance segment chalked up TRY56.4bn in premiums in 1Q2026, contributing 14.2% of overall premium income. The segment surged by a nominal 50.1% when compared to the corresponding quarter in 2025.
Non-life insurance shrank by 2.5% in real terms, while life insurance grew by 14.7% in real terms. In the January-March 2026 period, 13 out of 20 insurance branches saw real contraction. M