News Middle East31 Jan 2019

Turkey:Insurance mart grows by 15% to US$10bn in premiums in 2018

| 31 Jan 2019

The insurance industry in Turkey has posted growth of 14.7% in total premiums to TRY50.42bn ($9.6bn) in 2018, compared to 2017, according to data released by the Insurance Association of Turkey (TSB).

Of this total, non-life premiums soared by 17.1% to TRY43.6bn while life premiums stood at TRY6.8bn, representing marginal growth of 1%.

For the top five classes of non-life business in 2018, premium production was:

Class

Premium 2018

(TRY m)

% increase

over 2017

Motor vehicle liability

13,304

15

Land vehicle

7,825

13

Fire and natural disaster

6,589

20

Illness and health

5,997

24

General property

4,592

18

 

Top market shares

In terms of premiums, the top five companies in Turkey last year were:

Insurer

Premium 2018

(TRY m)

% change

over  2017

Market share

in 2018     %

Allianz

5,457

+12

10.8

Andalou

4,989

+16

9.9

AK

3,279

+29

6.5

AXA

3,110

+15

6.2

Mapfre

2,464

- 4

4.9

| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.