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  4. > Turkey Insurance Report Q4 2016

Turkey Insurance Report Q4 2016

  • August 2016
  • -
  • Business Monitor International
  • -
  • 64 pages

Includes 3 FREE quarterly updates

BMI View: Both life and non-life are expected to record healthy growth over the coming years in Turkey'srapidly expanding insurance segment. The market will benefit from rising employment and householdincome rates, boosting spending on insurable items and driving demand for various life cover andretirement products. A number of major multinationals are expanding their presence in the country,competing with well established domestic providers. Headwinds to growth remain, however, includingcultural barriers to traditional insurance cover, an underdeveloped regulatory system and the potential foreconomic and political instability.Key Updates And Forecasts

- Proximity to the conflict in Syria as well as internal instability (as highlighted by the July coup attempt)has heightened risk in some sectors. The attack on Ataturk Airport in late June 2016, which left over 40dead, is indicative of such risks. Hiscox, which is based in Bermuda, but writes international risk viaLloyds of London has been confirmed as the lead insurers for the airport and has noted the changes tothe threat environment in Turkey and globally.

- Takaful insurance is expected to be a key growth area in the Turkish insurance market. In May 2016 theIslamic Financial Services Board, the World Bank and the Undersecretariat of Treasury of theRepublic of Turkey took part in a conference sponsored by the Insurance Association of Turkey andAssociation of Participation Insurance on the growth prospects, regulation and demand for newproducts in the country's Takaful sector.

Table Of Contents

Turkey Insurance Report Q4 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Turkey 2013-2020) 5
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Turkey 2013-2020) 12
Table: Life Insurance Claims (Turkey 2008-2015) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Turkey 2013-2020) 16
Table: Non-Life Insurance Claims (Turkey 2009-2015) 18
Non-Life Sub-Sector Forecast 19
Table: Non-Life Insurance Premiums by Product Line (Turkey 2013-2020) 28
Insurance Risk/Reward Index 30
Emerging Europe Risk/Reward Index 30
Table: Emerging Europe Insurance Risk/Reward Index - Q416 31
Market Overview 32
Life Market Overview 32
The Product Offering 32
The Competitive Landscape 32
Table: Life Market Share (USDmn) 2007-2014 33
Non-Life Market Overview 36
Product Offering 36
The Competitive Landscape 36
Table: Non-Life Market Share (USDmn) 2007-2014 37
Company Profile 40
Aksigorta 40
Allianz 43
Anadolu Hayat Emeklilik 46
Anadolu Sigorta 49
AXA Group 52
Ziraat Hayat Emeklilik (ZHE) 55
Methodology 58
Industry Forecast Methodology 58
Risk/Reward Index Methodology 61
Table: Indicators 63
Table: Weighting of Indicators 64

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