Page 17 - Turkinsurance Digital Magazine

14 insurance outlook 15

Insurance market reaches a According to the consolidated balance sheet and income statements announced by the In-
surance Association of Turkey, technical profit reached 613 million 823 thousand USD in

technical profit of 875.01 million non-life segment, and 261 million 184 thousand USD in life segment. Thus, total market
profitability was reported as 875 million 12 thousand USD. Technical profit in the pen-
USD in the Q3 2019 sion segment was 66 million 140 thousand USD.

The results indicate that overall technical profitability grew by
27 percent compared to the third quarter of 2018. Growth of A loss of 115.9 million USD was reported for land vehicles li-
profitability in non-life segment reached 22.5 percent compared ability line with a rate of -8.1 percent. A technical loss rate of
to the third quarter of 2018, while it was reported as 38.9 per- -30.7 percent was reported for ships hull and machinery line at
cent in the life segment. Technical profitability in the pension 4.9 million USD, and -12.7 percent for general losses line at
segment grew by 23.8 percent over the same period of last year. 10.4 million USD.

Technical loss of 3 lines reached 131.2 million 2 billion 999 million USD worth of compensation
USD payment in Q3

As of Q3 of 2019, technical loss in 3 lines excluding traffic Net amount of claims paid by the insurance market stood at 2
reached 131 million 312 thousand USD; compared to 5 million billion 631 million USD in the non-life segment as of the third
861 thousand USD loss in 4 lines excluding traffic in the third quarter of 2019, and at 368 million 349 thousand USD in the
quarter of 2018. life segment. Total net claims paid to policyholders in the third

Yıllar itibarıyla hayat dışı branşlarda teknik kar ve kar/zarar oranları
Rate of technical profit in non-life insurance by years
4,000,000,000 16.0%
700000000.0 16%
3,500,000,000 14.1% 14.5% 14% 14.0%
600000000.0 14% 14%
3,000,000,000 12.0% 12%
500000000.0 3,652,276,960 613,828,061
2,500,000,000 10.0% 10%
400000000.0
2,000,000,000 8.4% 08% 2,979,367,172 500733978.487 8.0% 08%
300000000.0 1,660,281,763
169645503.529
1,500,000,000 06% 6.0% 06%
200000000.0 279038951.765
1,000,000,000 -11234372.101 1,009,390,746 6.1% 4.0% 04%
100000000.0 -66,844,514
500,000,000 2.0% 02%
- 00%
- -01% 0.0%
-0.5%
-100000000.0 -2.0% -02%
-500,000,000
2016 Q3
2017 Q3
2015 Q3 2016 Q3 2017 Q3 2018 Q3 2018 Q3 2019 Q3 2019 Q3
2015 Q3
Hayat dışı branş teknik kar (TL) Teknik Kar/Zarar oranı (%)
Non-life technical profit (USD) Profit rate (%)