News Middle East23 Jul 2019

Turkey:Insurance market shows steady growth in 1H

23 Jul 2019

The insurance sector generated premium income of TRY33.25bn ($5.9bn) in the first half of this year, achieving growth of 19.3% over the corresponding half of 2018, according to data from the Turkey Insurance Association (TSB).

In real terms, the sector grew by 3.1% in the first six months of this year, reported Insurance Gazette citing the TSB data.

Non-life premiums totalled TRY28.65bn, while life premiums stood at TRY4.6bn. compared to 1H2018. Real growth was 3% in the non-life sector and 3.2% in the life branch.

Participating insurance

TSB data also show that participating insurance premium increased by 91.2% to TRY1.8bn in 1H2019.

In comparison, the insurance sector in Turkey generated total premiums of TRY27.88bn in the first half of 2018, an increase of 20.5% compared to the corresponding period of the previous year. After taking inflation into account, real growth in the sector was 4.4%.


 

| 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.