News Middle East02 Jul 2020

Turkey:Insurance sector posts 65% surge in technical gains in 1Q

02 Jul 2020

The Turkish insurance market reported total underwriting profit of TRY2,731m ($399m) for 1Q2020, 65% higher than the TRY1,651m chalked up for the corresponding period last year, according to data released by the Insurance Association of Turkey.

The life branch produced total technical profit of TRY1,001m for 1Q2020 while the non-life sector reported technical profit of TRY1,731m.

The motor branch generated technical profit of TRY683m from the January to March period, followed by accident business with TRY345m.

In the first three months of this year, among the various classes of business, the general liability branch made the biggest loss of TRY39m.


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