Page 18 - Turkinsurance Digital Magazine

16 insurance outlook

Insurance market reaches 267.7

million technical profit

According to consolidated balance sheet and income tables announced by

the Insurance Association of Turkey (TSB) as of March 2019, total tech-
nical profit has reached 156 million 997 thousand USD in non-life seg-
ment, 85 million 641 thousand USD in life segment and 23 million 842
thousand USD in pension system. Overall profitability of Turkish insurance

and pension markets is reported as 267 million 789 thousand USD.

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

200 20,0%

15,0%
150 14,1%
11,5%
9,7% 10,0%
100

5,0%

50 2,2%
0,0%

18 108 162 156
0 -4,9% -5,0%
2015 Q1 2016 Q1 2017 Q1 2018 Q1 2019 Q1

-50 -34 -10,0%
Technical profit (million USD) Technical profit/loss ratio (%)

Reference: TSB