Page 3 - Turkinsurance Digital Magazine

Dear Readers,

For the July issue of Turkinsurance, we have prepared an is- profit of pension segment reached 22 million 739 thousand
sue full of news, articles, analyses and researches to shed light USD.
on Turkish insurance and pension markets.
At the end of the second quarter of 2020, total number of
Covid-19 pandemic has made a deep impact on insurance participants in BES reached 6 million 836 thousand people,
market, just like most other markets and businesses. Insur- while the number of participants that joined via auto-enroll-
ance market has paid large sums of compensations especially ment reached 6 million 234 thousand people. During this
in certain lines, and will probably enter a challenging period term, total fund size in BES reached 17 billion 240 million
following the pandemic due to changing customer behaviors USD, while fund size gained from participants in auto-enroll-
and recessions. ment reached 1 billion 435 million USD.
According to the consolidated balance sheet and income ta- This month, our Country Profile section covers Qatar. You
bles announced by the Insurance Association of Turkey (TSB) can have a general idea Qatar’s general economic condition
at the end of March 2020, total technical profit in the non- its progress and insurance rates by reading this report.
life segment of Turkish insurance market reached 284 million Hope to meet with the next issue
255 thousand USD; while technical profit reported in life seg-
ment reached 104 million 392 thousand USD, and technical Your sincerely