Turkey Insurance Report Q1 2016

Date: November 4, 2015
Pages: 60
US$ 1,295.00
Report type: Strategic Report
Delivery: Download
ID: T561F4A2700EN

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Includes 3 FREE quarterly updates

BMI View: Turkey's insurance market offers substantial long-term potential. Wider economic growth will support expansion of key non-life lines, such as general liability and credit/financial guarantee insurance, while improving household income rates will increase demand for life and health products. In the short term, currency fluctuations will result in a contraction in premiums in US dollar terms, across both life and non-life insurance, however we expect to see healthy growth in premiums in US dollar and local currency terms by the end of the current forecast period. The market is home to several large domestic firms, as well as subsidiaries of major multinationals, and provides extensive opportunities for new entrants, particularly as the non-life market consolidates amidst more robust capitalisation requirements. Vital to ensuring investor interest is the maintenance of domestic security and political stability, which looks uncertain in the run up to the next national election.

Key Updates And Forecasts
  • Turkey's life insurance market is underdeveloped however it is growing rapidly from a low base, with premiums currently forecast to increase from TRY3.6bn in 2015 to TRY5.0bn in 2019 - growth of just under 9% a year on average.
  • Slightly higher growth is forecast in the larger non-life insurance industry, bolstered by strong demand for health, motor and property insurance, and we are forecasting an overall increase in premiums from TRY25.1bn in 2015 to TRY36.1bn in 2019.
BMI Industry View
  Table: Headline Insurance Forecasts (Turkey 2012-2019)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (Turkey 2012-2019)
  Table: Life Insurance Claims (Turkey 2007-2014)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (Turkey 2012-2019)
  Table: Non-Life Insurance Claims (Turkey 2008-2014)
Non-Life Sub-Sector Forecast
  Table: Non Life Insurance Premiums by Product Line (Turkey 2012-2019)
Insurance Risk/Reward Index
Emerging Europe Risk/Reward Index
  Table: Emerging Europe Insurance Risk/Reward Index
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Life Market Share (USDmn) 2007-2014
Non-Life Market Overview
Product Offering
The Competitive Landscape
  Table: Non-Life Market Share (USDmn) 2007-2014
Company Profile
Anadolu Hayat Emeklilik
Anadolu Sigorta
AXA Group
Ziraat Hayat Emeklilik (ZHE)
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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