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Synopsis
Timetric’s 'Life Insurance in Turkey Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Turkish life insurance segment, and a comparison of the Turkish insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Turkish economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Life Insurance in Turkey Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Turkish life insurance segment, including:

- An overview of the Turkish life insurance segment

- The Turkish life insurance segment’s growth prospects by category

- A comprehensive overview of the Turkish economy and demographics

- A comparison of the Turkish life insurance segment with its regional counterparts

- The various distribution channels in the Turkish life insurance segment

- Details of the competitive landscape in the life insurance segment in Turkey

- Details of regulatory policy applicable to the Turkish insurance industry

Scope
This report provides a comprehensive analysis of the life insurance segment in Turkey:

- It provides historical values for the Turkish life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Turkish life insurance segment, and market forecasts to 2020.

- It provides a comparison of the Turkish life insurance segment with its regional counterparts

- It analyzes the various distribution channels for life insurance products in Turkey.

- It profiles the top life insurance companies in Turkey and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Turkish life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Turkish life insurance segment.

- Assess the competitive dynamics in the life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Turkish insurance industry, and their impact on companies and the industry's future.

Key Highlights
- A new regulation for calculating adequate solvency capital for insurance, reinsurance and private pension companies came into effect on August 23, 2015.

- On August 25, 2016, amendments to Law no. 4632 on private pensions in Turkey received approval from the Turkish government.

- Turkish life insurance penetration stood at 0.2% in 2015 .

- Bancassurance is an important and integral part of the life insurance distribution channels in the country.

Table Of Contents

Life Insurance in Turkey, Key Trends and Opportunities to 2020
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Assets and investments
5 Outlook by Sub-Segment
5.1 Individual Life Insurance
5.1.1 Premium
5.1.2 Policies sold
5.1.3 Penetration
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Bancassurance
6.1.2 Direct marketing
6.1.3 Agencies
6.1.4 Brokers
7 Competitive Landscape
7.1 Company Profiles
7.1.1 Ziraat Hayat ve Emeklilik A? - company overview
7.1.2 Allianz Ya?am ve Emeklilik A? - company overview
7.1.3 Anadolu Hayat Emeklilik A? - company overview
7.1.4 Garanti Emeklilik ve Hayat A? - company overview
7.1.5 Halk Hayat ve Emeklilik A? - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life Insurance
8.3.2 Property Insurance
8.3.3 Motor Insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third party liability insurance
8.4.2 Civil liability insurance for domestic and foreign aircraft flying within Turkish airspace
8.4.3 Third-party liability insurance for hazardous activities
8.4.4 Earthquake insurance for buildings
8.4.5 Liability insurance for clinical trials
8.4.6 Professional liability insurance for insurance and reinsurance brokers
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Undersecretariat of Treasury
8.5.3 Insurance Association of Turkey
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas.
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution (ADR)
9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Direct Marketing
9.5 Insurance Brokers and Agencies
9.6 Bancassurance
9.7 Individual Life Insurance
9.8 Individual Life Insurance by Product
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer

List of Tables
Table 1: Turkish Life Insurance - Key Facts, 2015
Table 2: Turkish Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Turkish Government Credit Ratings
Table 4: Turkish Life Insurance - Gross Written Premium (TRY Billion and US$ Billion), 2011-2015
Table 5: Turkish Life Insurance - Penetration (%), 2011-2015
Table 6: Turkish Life Insurance - Gross Written Premium (TRY Billion and US$ Billion), 2015-2020
Table 7: Turkish Life Insurance - Penetration (%), 2015-2020
Table 8: Turkish Life Insurance - Premium per Capita (TRY and US$), 2011-2015
Table 9: Turkish Life Insurance - Premium per Capita (TRY and US$), 2015-2020
Table 10: Turkish Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 11: Turkish Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 12: Turkish Life Insurance - Paid Claims (TRY Billion and US$ Billion), 2011-2015
Table 13: Turkish Life Insurance - Paid Claims (TRY Billion and US$ Million), 2015-2020
Table 14: Turkish Life Insurance - Total Assets (TRY Billion and US$ Billion), 2011-2015
Table 15: Turkish Life Insurance - Total Assets (TRY Billion and US$ Billion), 2015-2020
Table 16: Turkish Life Insurance - Total Investment Income (TRY Million and US$ Million), 2011-2015
Table 17: Turkish Life Insurance - Total Investment Income (TRY Million and US$ Million), 2015-2020
Table 18: Turkish Life Insurance - Investment Portfolio (TRY Billion), 2011-2015
Table 19: Turkish Life Insurance - Investment Portfolio (TRY Billion), 2015-2020
Table 20: Turkish Individual Life Insurance - Direct Written Premium by Category (TRY Billion), 2011-2015
Table 21: Turkish Individual Life Insurance - Direct Written Premium by Category (TRY Billion), 2015-2020
Table 22: Turkish Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
Table 23: Turkish Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
Table 24: Turkish Life Insurance - Segment Shares of the Leading Insurers (%), 2015
Table 25: Ziraat Hayat ve Emeklilik - Key Facts
Table 26: Ziraat Hayat ve Emeklilik - Key Financials (TRY Million), 2011-2015
Table 27: Allianz Ya?am ve Emeklilik - Key Facts
Table 28: Allianz Ya?am ve Emeklilik - Key Financials (TRY Million), 2011-2015
Table 29: Anadolu Hayat Emeklilik - Key Facts
Table 30: Anadolu Hayat Emeklilik - Key Financials (TRY Million), 2011-2015
Table 31: Garanti Emeklilik ve Hayat - Key Facts
Table 32: Garanti Emeklilik ve Hayat - Key Financials (TRY Million), 2011-2015
Table 33: Halk Hayat ve Emeklilik - Key Facts
Table 34: Halk Hayat ve Emeklilik - Key Financials (TRY Million), 2011-2015
Table 35: Turkey - Insurance Regulatory Framework Key Features
Table 36: Turkey - Life Insurance Regulatory Framework
Table 37: Turkey - Property Insurance Regulatory Framework
Table 38: Turkey - Motor Insurance Regulatory Framework
Table 39: Turkey - Liability Insurance Regulatory Framework
Table 40: Turkey - Tariff Rate for Motor Third-Party Liability Insurance
Table 41: Turkey - Motor Third-Party Liability Insurance Cover Limits (TRY)
Table 42: Turkey - Motor Third-Party Liability Insurance Cover Limits (US$)
Table 43: Turkey - Compensation Provided by the Insurer in the Event of Accident by Domestic Air Carriage
Table 44: Turkey - Tariff Rates Based on Earthquake Zones and Building Type
Table 45: Turkey - Corporate Tax Rates for the Financial Year 2016
Table 46: Turkish Life Insurance - Policies and Premium, 2011-2015
Table 47: Turkish Life Insurance - Policies and Premium, 2015-2020
Table 48: Turkish Life Insurance - Claims and Expenses, 2011-2015
Table 49: Turkish Life Insurance - Claims and Expenses, 2015-2020
Table 50: Turkish Life Insurance - Assets and Investments, 2011-2015
Table 51: Turkish Life Insurance - Assets and Investments, 2015-2020
Table 52: Turkish Life Insurance - Direct Marketing, 2011-2015
Table 53: Turkish Life Insurance - Direct Marketing, 2015-2020
Table 54: Turkish Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 55: Turkish Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 56: Turkish Life Insurance - Bancassurance, 2011-2015
Table 57: Turkish Life Insurance - Bancassurance, 2015-2020
Table 58: Turkish Life Insurance - Individual Life Insurance, 2011-2015
Table 59: Turkish Life Insurance - Individual Life Insurance, 2015-2020
Table 60: Turkish Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 61: Turkish Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 62: Insurance Industry Definitions

List of Figures
Figure 1: Turkish Real GDP (TRY Billion) and Annual Growth (%), 2011-2020
Figure 2: Turkish Current Account Balance as Percentage of GDP (%), 2011-2015
Figure 3: Turkish Unemployment Rate, 2011-2020
Figure 4: Turkish Consumer Price Inflation (%), 2011-2020
Figure 5: TRY-US$ Exchange Rate, 2011-2020
Figure 6: Turkish Population by Age Group, 1990-2025
Figure 7: Turkish Life Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Turkish Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 9: Turkish Life Insurance - Gross Written Premium (TRY Billion), 2011-2020
Figure 10: Turkish Life Insurance - Penetration (%), 2011-2020
Figure 11: Turkish Life Insurance - Premium per Capita (TRY), 2011-2020
Figure 12: Turkish Life Insurance - Number of Policies Sold (Million), 2011-2020
Figure 13: Turkish Life Insurance - Paid Claims (TRY Billion), 2011-2020
Figure 14: Turkish Life Insurance - Total Assets (TRY Billion), 2011-2020
Figure 15: Turkish Life Insurance - Total Investment Income (TRY Million), 2011-2020
Figure 16: Turkish Life Insurance - Investment Portfolio (TRY Billion), 2011-2020
Figure 17: Turkish Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 18: Turkish Individual Life Insurance - Direct Written Premium by Category (TRY Billion), 2011-2020
Figure 19: Turkish Individual Life Insurance - Direct Written Premium Share (Percentage) by Category, 2015 and 2020
Figure 20: Turkish Individual Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 21: Turkish Individual Life Insurance - Penetration (%), 2011-2015
Figure 22: Turkish Individual Life Insurance - Penetration (%), 2015-2020
Figure 23: Turkish Life Insurance - Segment Shares of the Leading Insurers (%), 2015
Figure 24: Turkey - Insurance Supervision and Control at Various Levels
Figure 25: Turkey - Insurance Regulatory Frameworks for Company Registration and Operation

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