Turkish non-life insurers should benefit from improved operating conditions and stronger pricing in 2025, Fitch Ratings says in a report titled "Turkish Non-Life Insurance: Gradual Steps to Market Stabilisation".
The Turkish Insurance Experts Association (TUSED), the Turkish Insurance Experts Association, has highlighted discrepancies in the prices and coverage offered in home insurance policies, following large-scale fires that have broken out across Türkiye in recent weeks.
The Middle East and Africa (MEA) were among the emerging insurance markets (excluding China) that exhibited above-trend growth in 2024, according to Swiss Re Institute (SRI) in a report on global insurance developments.
The Insurance and Private Pension Regulation and Supervision Agency's new regulation on determining totally wrecked and severely damaged vehicles has entered into force, starting an era in which grievances about damaged vehicles and unregistered practices in the sector will be reduced.
Turkiye Wealth Fund (TVF), owned by the government, has completed all stages of the strategic merger process of public insurance and pension companies, the sovereign wealth fund has said in a statement.
A Bill has been submitted to the Turkish Grand National Assembly to amend the Highway Traffic Law, which when passed will make motor third-party liability insurance compulsory for electric scooters.
Around four in 10 (38.6%) of farmers in Turkiye are covered by insurance while 17% of agricultural land in the country is insured, according to data from the Ministry of Agriculture and Forestry.
The total technical profits in the life insurance branch in Türkiye increased by 91% in the first three months of this year to over TRY6.4bn ($164m), compared to the corresponding quarter last year, according to data published by the Insurance Association of Türkiye (TSB).
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has published a circular concerning the motor insurance premium/equity coefficient.
London-headquartered BMS Group, an independent global insurance and reinsurance broker, has expanded its presence in the Turkish market with the acquisition of Istanbul-based Oria Sigorta ve Reasurans Brokerligi.