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Turkey Insurance Report Q1 2016

  • November 2015
  • -
  • Business Monitor International
  • -
  • 60 pages

Includes 3 FREE quarterly updates

BMI View: Turkey's insurance market offers substantial long-term potential. Wider economic growth willsupport 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 shortterm, currency fluctuations will result in a contraction in premiums in US dollar terms, across both life andnon-life insurance, however we expect to see healthy growth in premiums in US dollar and local currencyterms by the end of the current forecast period. The market is home to several large domestic firms, as wellas subsidiaries of major multinationals, and provides extensive opportunities for new entrants, particularlyas the non-life market consolidates amidst more robust capitalisation requirements. Vital to ensuringinvestor interest is the maintenance of domestic security and political stability, which looks uncertain in therun 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, withpremiums currently forecast to increase from TRY3.6bn in 2015 to TRY5.0bn in 2019 - growth of justunder 9% a year on average.

? Slightly higher growth is forecast in the larger non-life insurance industry, bolstered by strong demandfor health, motor and property insurance, and we are forecasting an overall increase in premiums fromTRY25.1bn in 2015 to TRY36.1bn in 2019.

Table Of Contents

Turkey Insurance Report Q1 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Turkey 2012-2019) 5
Insurance 7
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Turkey 2012-2019) 11
Table: Life Insurance Claims (Turkey 2007-2014) 12
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Turkey 2012-2019) 15
Table: Non-Life Insurance Claims (Turkey 2008-2014) 17
Non-Life Sub-Sector Forecast 17
Table: Non Life Insurance Premiums by Product Line (Turkey 2012-2019) 26
Insurance Risk/Reward Index 27
Emerging Europe Risk/Reward Index 27
Table: Emerging Europe Insurance Risk/Reward Index 28
Market Overview 29
Life Market Overview 29
The Product Offering 29
The Competitive Landscape 29
Table: Life Market Share (USDmn) 2007-2014 31
Non-Life Market Overview 33
Product Offering 33
The Competitive Landscape 33
Table: Non-Life Market Share (USDmn) 2007-2014 35
Company Profile 38
Aksigorta 38
Allianz 41
Anadolu Hayat Emeklilik 44
Anadolu Sigorta 47
AXA Group 50
Ziraat Hayat Emeklilik (ZHE) 52
Methodology 54
Industry Forecast Methodology 54
Risk/Reward Index Methodology 57
Table: Indicators 59
Table: Weighting of Indicators 60

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