Magazine date:
Mar 2015 The Turkish insurance market reported a 7.3% increase in its turnover at 26 billion TRL (11.1 billion USD) in 2014.
In 2013, insurers recorded a premium volume of 24.23 billion TRL (11.3 billion USD). With 22.71 billion TRL (9.7 billion USD), non-life insurance represents 87% of the written premiums, that is an increase of 9% in one year.
Life insurance depreciated by 3.4% at 3.28 billion TRL(1.4 billion USD). However, the increase achieved in 2014 is the lowest in five years.
This slowdown is due to the poor performance of motor insurance, which accounts for 41% of the total turnover.
It should be noted that, after inflation adjustment, the insurance market shows a slight decrease in its turnover.