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Technical profit of Turkish insurance

market increases up to 794.5 million

USD in 2018

In 2018, as a year of fluctuations for both Turkish and global economy, technical profit

of Turkish insurance market reached 556.4 million USD, while technical profit of life
segment stood at 238.1 million USD.

2018 consolidated balance sheet and income statements of the paid in life insurance segment. Thus, total amount of net claims paid
growing Turkish insurance market was announced by the Insurance reached 3.6 billion USD. In previous year, this amount was around
Association of Turkey. The market managed to raise its technical 3 billion USD. Underwritten premiums, as one of the main drivers of
profit by 44.2 percent compared to the previous year, while tech- technical profit, exceeded 5.2 billion USD in non-life segment, while
nical profitability of life segment increased by 6.6 percent. Overall reaching 1.1 billion USD in life segment.
technical profit of the market reached 794.5 million USD.
Technical loss in traffic insurance increased up to
Having experienced losses in 5 lines during 2017, Turkish insur- 137 million USD, but profitability grows in motor
ance market experienced technical losses in 7 lines during 2018.
Since the number of losing lines increased, total technical loss grew casco line
by 46.8 percent, reaching 239.7 million USD. Over 137 million
USD of technical loss in traffic insurance made the greatest impact In 2017, non-life technical profit of Turkish insurance market was
on market’s overall technical loss. reported as 374 million USD, and life technical profit was 221 mil-
lion USD. Amount of net claims paid was 2.6 billion USD in non-life
3.6 billion USD net claims paid during 2018 segment and 408 million USD in life segment. Non-life segment pro-
duced 4.5 billion USD in premiums, while life insurance premiums
Turkish insurance market’s net claims paid reached 3.2 billion stood at 1.1 billion USD.
USD in non-life segment during 2018, while 429.2 million was

Technical profit/loss rates in non-life segment by years

600.00 14%

500.00 11% 12%
10%
400.00
09%
08% 08%
300.00 07%
06%
200.00
04%
-­‐71.100 02%
100.00

.00 00%
2014 Q4 2015 Q4 2016 Q4 2017 Q4 2018 Q4
-­‐100.00 -­‐02%
-­‐02%
-­‐200.00 -­‐04%

Technical profit in non-­‐life segment (thousand USD) Technical Profit/Loss Rate