Page 8 - Turkinsurance Digital Magazine

6 cover story

Share of agricultural insurance lines in overall premium production as of
2017 (%)

4,0

0,1
21,7
2,2
0,4
0,8

71,3 0,3

Crop insurance Greenhouse insurance Cattle insurance Sheeps and goats insurance
Poultry insurance Aquaculture insurance Beehives insurance

Progress of the number of agricultural insurance policies over the sheep and goats insurance with 2.2 percent, aquaculture insurance
years indicate a positive development: number of policies increased with 1.4 percent, beehives insurance with 0.3 percent and poultry
from 1 million in 2014 to 1.3 million in 2015, 1.4 million in 2016, insurance with 0.1 percent.
and finally reached 1.5 million as of 2017. The report also states
that in 2017, highest number of policies were issued in crop insur- 833 million TL paid for losses
ance with 1.4 million, followed by cattle insurance with 54.8 thou-
sand, greenhouse insurance with 24.1 thousand, sheep and goats
insurance with 15.4 thousand, beehives insurance with 9.8 thou- Total amount of compensations paid for losses increased from 532
sand, poultry insurance with 561 and aquaculture insurance with million TL in 2014 up to 833 million TL at the end of 2017, grow-
77 policies. ing by 56.5 percent in 3 years. With 625 million TL, crop insurance
ranked first in terms of paid compensations as well. Second highest
Premium production figures by insurance line indicate that, as of amount of compensations were paid in cattle insurance with 157
2017, the biggest share belongs to crop insurance with 71.3 per- million TL; followed by greenhouse insurance with 36 million TL,
cent. Cattle insurance ranks as the second largest line with a share sheep and goats insurance with 12 million TL, beehives insurance
of 21.7 percent, followed by greenhouse insurance with 4 percent, with 1.2 million TL, poultry insurance with 294 thousand TL, and
aquaculture with 184 thousand TL.
Share of agricultural insurance lines
in number of policies as of 2017 (%) The annual report indicates that the biggest growth in the number
of policies were reported in aquaculture insurance, followed by the
3,40% 1,00% 0,04% 0,60% growth in cattle insurance, sheep and goats insurance, poultry in-
1,50% 6,00% surance, and greenhouse insurance. On the other hand, sum insured
increased most in sheep and goats insurance; while cattle insurance
saw the biggest growth in premium production. However, beehives
insurance saw a reduction in terms of premium production, which
was a striking result for agricultural insurance.

Frost and hail created the majority of the
93,40%
crop insurance losses

2017, crop insurance grew by 9.3 percent in terms of number of
Crop insurance Greenhouse insurance policies, 22.8 percent in terms of sum insured and 19.2 percent in
terms of premium production. Highest amount of premiums were
Cattle insurance Sheeps and goats insurance written for apricot with a share of 20.4 percent among all prod-
Poultry insurance Aquaculture insurance ucts, followed by grapes with a share of 18.3 percent and wheat
with 13.9 percent. Other products covered by crop insurance were
Beehives insurance listed respectively in terms of amount of premiums as hazelnut,