The medical cost trend in Türkiye is projected to remain relatively high in 2025, albeit a reduction compared with 2023 and 2024, according to a report released by WTW, a leading global advisory, broking and solutions company.
The Insurance Association of Turkiye (TSB) has announced that it has become mandatory for buyers of second-hand vehicles to have compulsory motor third-party liability insurance (traffic insurance) before the vehicle purchase transaction.
The Turkish reinsurance market is in a more positive situation this year compared to last year, according to senior industry executives.
More than 40% (45.4%) of respondents to a survey think that their retirement income will be low, highlighting that their financial concerns about retirement are quite high, according to AgeSA, a private pension and life insurance company.
A member of the board of the Insurance Association of Turkiye (TSB) has called for issues related to compulsory motor third-party liability insurance (traffic insurance) to be resolved so that attention can be focussed on other matters.
The Insurance Association of Turkey (TSB) has outlined its expectations for 2025 for the industry.
Millî Reasürans Türk Anonim Sirketi (Milli Re) has shown an improvement in its consolidated balance sheet strength fundamentals, notably through increased risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR).
The insurance industry in Türkiye aims to double its premium income to about $44.3bn and reach a penetration level of 4.8% in 2030, said Insurance Association of Türkiye (TSB) chairman Ugur Gulen at a media meeting.
Urgent measures are needed in the compulsory motor third-party liability insurance branch (dubbed 'traffic insurance'), says AcnTURK Insurance general manager, Mr Ali Murat Disci.
Insurers are increasing health insurance premiums by around 150% this year, following a 200% rise last year, according to local media reports.