The insurance sector in Turkey: 2014 results

Insurance sector in Turkey: turnover per kind of company: 2013-2014

in thousands USD

		2013	2014	2013/2014 evolution	2014 shares	Grand total in %
Non life and composite companies⁽¹⁾
1	ALLIANZ	904 358	1 378 456	52.4%	14.6%	12.4%
2	AXA	1 475 287	1 319 280	-10.6%	14%	11.8%
3	Anadolu	1 280 345	1 287 870	0.6%	13.7%	11.6%
4	Aksigorta⁽¹⁾	710 615	734 456	3.4%	7.8%	6.6%
5	MAPFRE Genel	629 945	639 019	1.4%	6.8%	5.7%
6	GUNES	501 356	519 734	3.7%	5.5%	4.7%
7	GROUPAMA	454 341	453 351	-0.2%	4.8%	4.1%
8	EUREKO	367 420	343 374	-6.5%	3.6%	3.1%
9	Ziraat	264 307	301 396	14.0%	3.2%	2.7%
10	Sompo Japan	258 802	294 358	13.7%	3%	2.6%

Life companies⁽²⁾
11	ERGO	262 637	288 488	9.8%	3.1%	2.6%
12	HDI	221 768	250 477	12.9%	2.7%	2.2%
13	HALK	219 016	230 508	5.2%	2.4%	2.1%
14	ZURICH	178 963	187 745	4.9%	2%	1.7%
15	NEOVA	119 574	163 011	36.3%	1.7%	1.5%
16	RAY	164 972	162 879	-1.3%	1.7%	1.5%
17	AIG	128 478	128 780	0.2%	1.4%	1.2%
18	EGE	95 729	105 780	10.5%	1.1%	0.9%
19	ANKARA	81 015	94 949	17.2%	1%	0.9%
20	AVIVA	126 257	81 653	-35.3%	0.9%	0.7%
21	ISIK	85 709	70 478	-17.8%	0.7%	0.6%
22	Generali⁽¹⁾	40 839	67 744	65.9%	0.8%	0.6%
23	Liberty	70 172	57 930	-17.4%	0.6%	0.5%
24	DUBAI Starr	37 262	53 424	43.4%	0.6%	0.5%
25	SBN	37 306	43 227	15.9%	0.5%	0.4%
26	Turk Nippon	20 686	30 979	49.8%	0.3%	0.3%
27	ACE	26 310	25 769	-2.1%	0.3%	0.2%
28	COFACE	22 780	25 423	11.6%	0.3%	0.2%
29	Euler Hermes	16 472	21 948	33.2%	0.2%	0.2%
30	Demir	13 511	13 408	-0.8%	0.1%	0.1%
31	Koru	15 932	12 792	-19.7%	0.1%	0.1%
32	BNP Paribas Cardif	10 363	11 817	14%	0.1%	0.1%
33	DOGA	-	11 348	-	0.1%	0.1%
34	HUR	20 587	9 099	-55.8%	0.1%	0.1%
35	Atradius	5 562	7 112	27.9%	0.1%	0.1%
36	Orient	-	3 472	-	0.05%	-
37	Turk P&I	585 253	3 084	-99.5%	0.03%	0.03%
38	TURINS	418	1 817	334.4%	0.02%	0.02%
	Total non life companies	9 454 347	9 436 435	-0.2%	100%	84.75%
1	Acibadem	143 423	178 429	24.4%	75.8%	1.6%
2	BNP Paribas Cardif Hayat	27 098	27 835	2.7%	11.8%	0.2%
3	Demir Hayat	23 743	23 664	-0.3%	10.1%	0.2%
4	Mapfre Genel Yasam	5 324	5 465	2.7%	2.3%	0.05%
5	CIV Hayat	5 955	-82	-101.4%	-	-
Total life companies⁽²⁾		205 543	235 311	14.5%	100%	2.15%
Companies specialised in retirement insurance ⁽³⁾
1	Zoraat H/E	374 747	264 655	-29.4%	18%	2.4%
2	Anadolu H/E	183 928	156 730	-14.8%	10.7%	1.4%
3	ALLIANZ Y/E	113 644	144 479	27.1%	9.8%	1.3%
4	GARANTI E/H	138 808	136 623	-1.6%	9.3%	1.2%
5	AVIVASA E/H	108 439	110 714	2.1%	7.5%	1%
6	METLIFE E/H	108 613	109 955	1.2%	7.5%	1%
7	HALK H/E	131 078	102 156	-22.1%	7%	0.9%
8	CIGNA Finans E/H	94 058	89 985	-4.3%	6.1%	0.8%
9	VAKIF Emeklilik	105 045	79 522	-24.3%	5.4%	0.7%
10	BNP Paribas Cardif Emeklilik	34 987	57 670	64.8%	3.9%	0.5%
11	AEGON E/H	41 548	57 364	38.1%	3.9%	0.5%
12	Groupama Emeklilik	51 406	52 909	2.9%	3.6%	0.5%
13	ALLIANZ H/E	46 510	46 953	1%	3.2%	0.4%
14	NN H/E	32 113	32 707	1.9%	2.2%	0.3%
15	AXA H/E	46 106	15 534	-66.3%	1.1%	0.2%
16	FIBA E/H	3 456	3 868	11.9%	0.3%	0.04%
17	ERGO E/H	6 180	3 644	-41%	0.2%	0.03%
18	KATILIM E/H	-	1 452	-	0.1%	0.02%
19	ASYA E/H	224	1 131	405%	0.1%	0.01%
Total retirement companies⁽³⁾		1 620 890	1 468 051	-9.4%	100%	13.2%
Grand total		11 280 780	11 139 797	-1.2%		100%

⁽¹⁾company underwriting life and non life insurance
⁽²⁾companies underwriting life, health and accident insurance
⁽³⁾companies underwriting retirement, life and health insurance H/E: Hayat ve Emeklilik=Life and retirement
Y/E: Yasam ve Emeklilik=pension and retirement

Shares of the Turkish insurance market per kind of market company in 2014

Insurance sector in Turkey: Turnover per class of business: 2013-2014

in thousands USD

	2013	2014	2013/2014 evolution	2014 shares
Accident	411 520	444 105	7.9%	4%
Health	1 151 211	1 255 640	9.1%	11.3%
Motor	4 847 639	4 550 030	-6.1%	40.8%
Marine	278 267	294 889	6%	2.6%
Fire	1 548 200	1 648 254	6.5%	14.8%
Property damage	1 018 214	1 041 194	2.3%	9.4%
Third party liability	269 844	315 701	17%	2.8%
Miscellaneous⁽¹⁾	175 164	184 330	5.2%	1.7%
Total non life⁽²⁾	9 700 059	9 734 143	0.4%	87.4%
Life⁽³⁾	1 580 721	1 405 654	-11.1%	12.6%
Grand total	11 280 780	11 139 797	-1.2%	100%

Breakdown of 2014 turnover per class of business

⁽¹⁾including credit, bond, financial loss, legal protection and assistance
⁽²⁾including life and non life underwritings
⁽³⁾including life, accident and health underwritings

Exchange rate as at TRY/USD au 31/12	2013	2014
Exchange rate as at TRY/USD au 31/12	0.46563	0.42860

Source: Insurance Association of Turkey (TSB)

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Mon, 16/05/2016 - 16:24

The insurance sector in Turkey: 2014 results

Insurance sector in Turkey: turnover per kind of company: 2013-2014

Insurance sector in Turkey: Turnover per class of business: 2013-2014

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