Page 15 - Turkinsurance Digital Magazine

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According to the consolidated balance-sheet and income tables announced by the Insur-
ance Association of Tukey (TSB) as of the end of September 2018, total technical profit
in the non-life segment reached 55 million 577 thousand USD. Technical profit in the

life segment was reported as 208 million 526 thousand USD, bringing technical profit of
Turkish insurance market to 764 million 103 thousand USD.

At the end of the third quarter, technical profit increased by 56.8 had a loss of 1 million 236 thousand USD in liability for ships with
percent over the same period of previous year. Technical profit of a profit/loss ratio of -10.8 percent. Loss reported in traffic line was
non-life segment grew by 79.4 percent over the third quarter of 13 million 741 thousand USD with a ratio of -1.1 percent.
2017, compared to 17.4 percent of growth in life segment.
Turkish insurance market paid 2 billion 749 million
Overall technical loss decreased over the same peri- USD for loss compensation
od of previous year

At the end of the third quarter of 2018, net amount of claims paid
During the third quarter of 2018, 6 million 365 thousand USD
technical loss was reported in 4 insurance lines, excluding traffic. by Turkish insurance market for non-life segment stood at 2 billion
In the third quarter of 2017, technical loss reported in those 4 lines 407 million USD, while claims paid in the life segment stood at
was 31 million 523 thousand USD. This was a decrease of 79.8 341 million USD. Total net amount of claims paid for policyholders
percent in one year. reached 2 billion 749 million USD at the end of the third quarter
of 2018. During the same period of 2017, this amount stood at 2
billion 365 million USD. Written premiums, which make a great
With a profit/loss ratio of -221.2 percent, aviation liability line re-
ported a loss of 2 million 284 thousand USD. Another insurance contribution to technical profit, reached 4 billion 30 million USD in
line to report technical loss was credit insurance with a profit/loss non-life segment and 952 million USD in life segment.
ratio of -34.3 percent and 2 million 757 thousand USD. The market

Technical profitability and proft/loss ratios in non-life

segment by years

600.000.000 16,0%
309.601.041 555.577.493 12,0%
500.000.000 14,1% 14,0%

400.000.000 10,0%

300.000.000 8,4% 8,0%
7,4% 188.226.139
158.394.513 -12.464.830 4,0%
200.000.000 6,1% 6,0%

100.000.000 2,0%

0 0,0%
-0,5%
-100.000.000 -2,0%

Technical profitability of non-life segment ($) Technical Profit/Loss Ratio (%)

Reference: Insurance Association of Turkey