At the end of the second quarter of 2018, total premiums of Turkish insurance market has reached 6 billion 92 million USD. Liability insurance line continues to get the highest share in premium production with 30.4 percent, also owning the highest growth rate in the market.

According to the statistics published by the Insurance Association of Turkey (TSB) at the end of 2018Q2, total premium production of Turkish insurance market has reached 6 billion 92 million USD. At the end of 2017Q2, total premiums stood at 6 billion 556 million USD; an indication of a decrease of 7.09 percent in one year. However, the figures increased by 20.49 percent for TL based statistics. USD-based figures decreased due to the exchange rate difference. (USD/TL, 30.06.2018= 4.5758; 30.06.2017= 3.5285).

At the end of the second quarter of the year, premium production in the non-life segment was reported as 5 billion 251 million USD, and life insurance premiums stood at 840 million 618 thousand USD.

Liability insurance dominated the market with a share of 30.4 percent in overall premiums, followed by auto-insurance with a share of 14 percent. Life insurance followed as third with 13.8 percent, while health insurance ranked fourth with a share of 12 percent. General losses and fire and natural forces lines together ranked as the fifth largest with 13.8 percent of share, followed by accident with 11.8 percent, and marine insurance with 1.5 percent. 
At the end of the second quarter of this year, liability insurance also reported the highest premium growth among other lines compared to the same period of 2017. Health insurance, marine insurance, general losses, life insurance, auto insurance, fire and natural forces and accident lines were the following lines in this listing, respectively.

“Allianz Sigorta closed the second quarter as the market leader with a premium volume of 632 million USD and a market share of 10.37%”

Allianz Sigorta closed the second quarter as the market leader by dominating the market with a share of 10.37 percent in premium production. The company produced 63 million USD in premiums; followed closely by Anadolu Anonim Türk Sigorta Şirketi with a market share of 10.26 percent and 624 million USD premium production. Aksigorta was the third largest company with a premium production of 366 million USD and a market share of 6.01 percent. AXA Sigorta maintained its fourth position with a share of 5.66 percent and a premium volume of 345 million USD. Mapfre Sigorta was reported as the fifth largest insurance company of the second quarter with a premium volume of 298 million USD and a share of 4.9 percent. Top three of these companies accounted for 26.65 percent of overall market premiums, while all five of them together dominated the market with a total share of 37.21 percent.

During the second quarter, highest amount of non-life premiums were produced by Allianz Sigorta, Anadolu Anonim Türk Sigorta Şirketi, AkSigorta, AXA Sigorta, and Mapfre Sigorta, respectively. On the other hand, top five companies of the life segment were respectively listed as Ziraat Hayat ve Emeklilik, Allianz Yaşam ve Emeklilik, Metlife Emeklilik ve Hayat, Anadolu Hayat Emeklilik, and Garanti Emeklilik ve Hayat.