Turkish insurance market
Figures in thousands
2022 turnover | 2021 turnover | 2021-2022 evolution (1) | 2022 shares | |||
---|---|---|---|---|---|---|
TRY | USD | TRY | USD | |||
Motor | 102 240 800 | 5 460 681 | 37 612 171 | 3 281 286 | 171.83% | 43.48% |
Fire (2) | 49 308 575 | 2 633 571 | 25 087 693 | 2 188 650 | 96.54% | 20.97% |
Health | 30 058 995 | 1 605 451 | 13 078 381 | 1 140 958 | 129.84% | 12.78% |
Marine (3) | 7 793 231 | 416 236 | 3 949 928 | 344 592 | 97.30% | 3.31% |
Accident | 4 712 461 | 251 693 | 2 409 001 | 210 161 | 95.62% | 2.00% |
Other risks (4) | 10 192 619 | 544 388 | 5 426 771 | 473 432 | 87.82% | 4.34% |
Non-life total | 204 306 681 | 10 912 020 | 87 563 945 | 7 639 079 | 133.32% | 86.88% |
Life total (5) | 30 858 299 | 1 648 142 | 17 337 566 | 1 512 529 | 77.99% | 13.12% |
Grand total | 235 164 980 | 12 560 162 | 104 901 511 | 9 151 608 | 124.18% | 100% |
Source: Insurance Association of Türkiye, Annual report 2022
(1) Growth rate in local currency
(2) Including natural catastrophes and other property damage
(3) Including marine transport and aviation
(4) Including general third-party liability, credit, bond, financial losses, legal protection and assistance
(5) Including pension funds
Exchange rate as at 31/12/2022: 1 TRY = 0.05341 USD, at 31/12/2021: 1 TRY = 0.08724 USD
Read also | Insurance companies in Turkey
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