Page 25 - Turkinsurance Digital Magazine

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In the third quarter of 2020, technical profit in- a loss of 860.8 thousand USD was reported for
creased by 75 percent on a year-on-year basis. aviation liability; while 51.5 million USD loss
Technical profit in non-life segment grew by 97 was reported for general liability line with a P/L
percent over the third quarter of 2019, while ratio of -70.6 percent. The loss reported in the
technical profit in life segment grew by 35 per- credit insurance was 1 million USD with a P/L
cent. Pension segment, on the other hand, grew ratio of -8.8%, and the technical loss reported in
by 22 percent in terms of technical profitability. engineering line reached 10.2 million USD with a
P/L ratio of -11.8%.
Technical loss reached 63.7 million
USD in 6 lines Claims paid stand at 2 billion 453
million USD as of Q3
As of the third quarter of 2020, 63 million 706
thousand USD technical loss was reported for 6 Turkish insurance market paid 2 billion 46 million
lines. Technical loss in the third quarter of 2019 USD for insured losses claimed in non-life seg-
had been 105 million 96 thousand USD in 3 lines ment, and 406.9 million USD for losses claimed
except for traffic insurance. in non-life insurance. Total net amount of claims
paid reached 2 billion 453 million USD as of the
With a P/L ratio of -4075%, a technical loss third quarter of 2020. According to the results of
of 61.4 thousand USD was reported for rolling 2019 Q3, it had been standing around 2 billion
stock insurance line. With a P/L ratio of -44.2%, 400 million USD. Written premiums, which had

Techncial Profit/Loss in Non-Life Insurance by Years

1,200,000,000 30.0%

1,000,000,000 25.0%
24.0%

970,866,418
800,000,000 20.0%

600,000,000 15.0%
14.1% 14.5%

400,000,000 10.0%
8.4% 491,558,137
135,853,398 223,456,496
200,000,000 6.1% 400,991,544 5.0%

- 0.0%
2016 Q3 2017 Q3 2018 Q3 2019 Q3 2020 Q3

Non-life insurance P/L (USD) P/L ratio (%)