Magazine date:
Nov 2021 
Despite the sharp depreciation of the Turkish lira, local insurers have not yet increased their rates. In 2021, the local currency has lost almost 42% of its value.
As of 30 September 2021, local insurance companies recorded a 29.3% drop in their non-life technical results of 5.1 billion TRY (573.41 million USD).
The non-life turnover, on the other hand, reached 58.3 billion TRY (6.55 billion USD), an increase of 21.3% over a year. The increase in rates is driven by the sharp rise in the prices of cars, spare parts and medical supplies.
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