Non-Life Insurance in Turkey, Key Trends and Opportunities to 2019

Date: 2015-12

“โ€ข The five leading insurers contributed 52.9% of the non-life gross written premium in 2014, with the remaining 47.1% distributed among 61 insurers.

โ€ข Motor third-party liability insurance was the leading contributor to the Turkish non-life segment during the review period.

โ€ข Property insurance grew during the review period, due to rises in demand for residential construction, and the number of infrastructure projects supported by government initiatives.

โ€ข Agencies led the Turkish non-life insurance distribution in 2014, with 65.6% gross written premium.

โ€ข The high susceptibility to natural hazards resulted in the establishment of the Turkish Catastrophic Insurance Pool (TCIP) to deal with earthquake risks.

โ€ข The most common type of hazard in Turkey between 1990 and 2014 was earthquake and floods, which accounted for almost two-thirds of natural hazards.”

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