Page 3 - Turkinsurance Digital Magazine

Dear Readers,

For the November issue of Turkinsurance, we have pre- share from total market premiums with 27.66%; while high-
pared an issue full of news, articles, analyses and research- est growth is reported in life insurance premiums.
es to shed light on Turkish insurance and pension markets.
At the end of the third quarter of 2020, total number of par-
Results have been announced for the Global Pensions In- ticipants in BES reached 6 million 867 thousand people,
dex, which is prepared jointly by, Mercer, the leading glob- while the number of participants that joined via auto-enroll-
al human resources and management consultancy compa- ment reached 6 million 429 thousand people. During this
ny, CFA Institute and Monash Center for Financial Studies term, total fund size in BES stood at 16 billion 396 million
(MCFS). The Netherlands and Denmark retain their first and USD, while fund size gained from participants in auto-enroll-
second place respectively as countries with the best pension ment reached 1 billion 335 million USD.
systems and retained their A-grade. According to the results
of the index, the impact of COVID-19 on the provision of fu- This month, our Country Profile section covers Rus-
ture pensions around the world will be negative due to reduced sia. You can have a general idea Russia’s general eco-
contributions, lower investment returns and higher govern- nomic condition its progress and insurance rates by read-
ment debt. ing this report.

At the end of the third quarter of 2020, total premium produc- Hope to meet with the next issue
tion of Turkish insurance market reaches 7 billion 618 mil-
lion USD. Once again, liability insurance gets the highest Your sincerely