Page 17 - Turkinsurance Digital Magazine

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According to the statistics announced by the Insurance ranked third. Fire and natural forces, vehicle insurance,
Association of Turkey (T.S.B) at the end of 2019, pre- liability insurance, marine and general losses followed
miums produced by Turkish insurance market reached respectively.
11 billion 618 million USD; a growth of 12.63 per-
cent compared to the end of 2018. Premiums written At the end of 2019 and just like in previous terms, Al-
in the non-life segment reached 9 billion 712 million lianz Sigorta completed the final quarter and year as
USD, while life premiums stood at 1 billion 906 million the market leader in terms of overall market premiums,
USD. (According to the TL-based result, market growth with a premium production of 1 billion 161 million
was reported as 26.69%. Differences in the FX rates USD and a market share of 10%. Anadolu Anonim
caused a smaller growth in USD-based results. USD/ Türk Sigorta Şirketi ranked second with a premium vol-
TRY parity was 5.2984 on 31.12.2018, which escalat- ume of 1 billion 108 million USD and a market share of
ed to 5.9596 as of 31.12.2019). 9.54%. AkSigorta reported a premium volume of 750
million 648 thousand USD, ranking as the third compa-
At the end of the year, liability insurance produced ny with a market share of 6.46 percent. AXA Sigorta
highest amount of premiums and reached a market ranked fourth with a premium volume of 688 million
share of 29.94%. Life insurance ranked second with a USD and a market share of 5.93%, followed by Sompo
growth rate of 16.41%, followed by vehicle insurance Sigorta with 564 million USD and a market share of
with 14.51%. Share of fire and natural forces stood 4.86%. Total volume of premiums produced by top 3
at 12.2%, health insurance at 12.07%, general losses companies accounted for 26% of overall market premi-
at 8.48%, accident insurance at 3.43% and marine at ums, while top 5 companies produced 36.78 percent of
1.37%. overall market premiums.

“Allianz Sigorta finished 2019 as the mar- Allianz Sigorta, Anadolu Anonim Türk Sigorta Şirketi,
ket leader with a premium volume of 1 AkSigorta, AXA Sigorta, Sompo Sigorta A.Ş. were re-
spectively listed as the top 5 companies of non-life pre-
billion 161 million and a market share of mium production.
10%”
On the other hand, Ziraat Hayat ve Emeklilik, Anadolu
During 2019 Q4, highest growth rate in terms of premi- Hayat Emeklilik, Allianz Yaşam ve Emeklilik, Metlife
um volume compared to the same period of 2018, was Emeklilik ve Hayat, AvivaSA Emeklilik ve Hayat were
reported in life insurance. Health insurance followed respectively listed as the top 5 companies of premium
with the second highest growth rate, while accident line production in the life segment.

Market shares of insurance companies

10,00%
Allianz Sigorta AŞ
23,62% Anadolu Anonim Türk Sigorta Şirketi
9,54%
Aksigorta AŞ
Axa Sigorta AŞ
6,46% Sompo Sigorta AŞ
HDI Sigorta AŞ
5,93% Mapfre Sigorta AŞ

20,96% Ziraat Sigorta AŞ
4,86%
Güneş Sigorta AŞ
Halk Sigorta AŞ
4,24% Next 10 Companies
4,04% Following Companies
3,06% 3,27% 4,02%