The Turkish insurance market posted total premiums of TRY396.4bn ($8.8bn) for the first quarter of 2026, a jump of 30.4% year on year, making a strong start to 2026, data released by the Insurance Association of Turkiye indicate.
However, after taking inflation into account , the insurance market showed a real contraction of 0.45% in the first quarter of the year.
Looking at the monthly performance of the insurance market in 1Q2026, total premiums shrank by 4% year on year in January. The real year -on-year change for the first two months was -0.60%, indicating an improvement in the single month of February. This means that the single month of March also produced positive real growth as the cumulative real decline was only 0.40%.
In 1Q2026, non-life branches accounted for the lion’s share of the total premiums, with a quantum of TRY340.0bn, representing 85.8% of the overall insurance market’s total. The non-life segment grew by a nominal; 27.6%.
The life insurance segment chalked up TRY56.4bn in premiums in 1Q2026, contributing 14.2% of overall premium income. The segment surged by a nominal 50.1% when compared to the corresponding quarter in 2025.
Non-life insurance shrank by 2.5% in real terms, while life insurance grew by 14.7% in real terms. In the January-March 2026 period, 13 out of 20 insurance branches saw real contraction.
|
Performance of the Turkish insurance market in 1Q2026 by branch of business
|
|
Branch (TRY m)
|
2026 Premiums
|
Market Share
|
2025 Premiums
|
Nominal Change
|
Real Change
|
|
Accident
|
6,094
|
1.79%
|
5,510
|
10.59%
|
-15.49%
|
|
Health/Medical
|
88,185
|
25.94%
|
66,006
|
33.60%
|
2.09%
|
|
Motor Own Damage
|
39,816
|
11.71%
|
32,621
|
22.05%
|
-6.74%
|
|
Aircraft
|
1,094
|
0.32%
|
879
|
24.43%
|
-4.92%
|
|
Marine/Watercraft
|
2,059
|
0.61%
|
1.832
|
12.43%
|
-14.09%
|
|
Marine/Cargo (Transport)
|
4,008
|
1.18%
|
3,199
|
25.28%
|
-4.27%
|
|
Fire and Nat CAT
|
52,234
|
15.36%
|
43,226
|
20.84%
|
-7.66%
|
|
General Losses
|
53,940
|
15.87%
|
32,065
|
68.22%
|
28.54%
|
|
Motor Vehicle Liability
|
77,381
|
22.76%
|
68,604
|
12.79%
|
-13.81%
|
|
Traffic (TPL, green card)
|
71,666
|
21.08%
|
54,845
|
30.67%
|
-0.15%
|
|
Aircraft Liability
|
1,193
|
0.35%
|
909
|
31.28%
|
0.32%
|
|
Watercraft Liability
|
711
|
0.21%
|
415,593
|
71.08%
|
30.72%
|
|
General Liability
|
6,552
|
1.93%
|
5,361
|
22.23%
|
-6.60%
|
|
Credit
|
1,317
|
0.39%
|
747
|
76.28%
|
34.70%
|
|
Suretyship (Bail)
|
298
|
0.09%
|
222
|
34.06%
|
2.44%
|
|
Financial Losses
|
1,949
|
0.57%
|
1,590
|
22.53%
|
-6.37%
|
|
Legal Protection
|
1,924
|
0.57%
|
2,364
|
-18.60%
|
-37.80%
|
|
Assistance
|
1,215
|
0.36%
|
932
|
30.30%
|
-0.43%
|
|
Non-Life Total
|
339,971
|
85.80%
|
266,483
|
27.60%
|
-2.50%
|
|
Life Total
|
56,452
|
14.20%
|
37,602
|
50.10%
|
14.70%
|
|
Grand Total
|
396,422
|
100.00%
|
304,086
|
30.40%
|
-0.40%
|