Page 21 - Turkinsurance Digital Magazine

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In the last quarter of 2020, total premium production of Turkish insurance market reached

11 billion 93 million USD. Liability insurance once again had the largest share in total
market production with a rate of 27.89%, while general losses showed biggest growth in
premium production.

According to the statistics announced by the Insurance Associ- previous quarter. Top 5 companies of life insurance premiums
ation of Turkey in the end of December 2020, total premium were listed as Türkiye Sigorta A.Ş., Allianz Sigorta, Anadolu
production of Turkish insurance market decreased by 4.52 per- Anonim Türk Sigorta Şirketi, AkSigorta, and AXA Sigorta, re-
cent compared to the end of 2019, declining to 11 billion 96 spectively.
million USD. Total premium volume in non-life segment stood at
9 billion 154 million USD, while the premiums written in life in- On the other hand, top 5 companies of non-life premium pro-
surance amounted to 1 billion 938 million USD. (Premium vol- duction were listed as Türkiye Hayat ve Emeklilik AŞ, Anadolu
ume grew by 19.26% according to TRY-based figures. Decrease Hayat Emeklilik, Allianz Yaşam ve Emeklilik, Metlife Emeklilik
in USD-based figures results from the exchange rate difference ve Hayat, and AvivaSA Emeklilik ve Hayat, respectively.
compared to the previous year. 31.12.2019 USD/TRY=5.9596;
31.12.2020 USD/TRY=7.4439)
Market shares of insurance companies
At the end of 2020Q4, liability insurance produced highest
amount of premiums with a share of 27.89% in total premi-
um production of the market. Life insurance followed as second 10,76%
with a share of 17.48%, and auto insurance ranked third with a
share of 14.20%. Share of fire and natural forces was 12.82%, 18,91%
followed by health insurance with 12.23%, general losses with
9.64%, accident with 2.71%, and marine with 1.46%. 9,85%

Compared to the same period of previous year, highest growth
in premium production was reported in general losses line, which
was followed by life insurance, marine, fire and natural forces, 9,71%
health, auto, and liability lines.
20,02%
“Türkiye Sigorta A.Ş. closed the year as market
leader with a premium production of 1 billion 193 6,38%
million USD, and a market share of 10.76%” 5,64%

At the end of the year, Türkiye Sigorta A.Ş. ranked first in over- 2,30% 4,04% 4,21% 5,07%
all market premium production (including both life and non-life 3,10%
premiums), with a premium production of 1 billion 193 million Türkiye Sigorta AŞ
USD, and a market share of 10.76%. Allianz Sigorta followed Allianz Sigorta AŞ
closely with premium production of 1 billion 92 million USD, Anadolu Anonim Türk Sigorta Şirketi
and a market share of 9.85%. Anadolu Anonim Türk Sigorta Aksigorta AŞ
Şirketi ranked third, its premium production reaching 1 billion Axa Sigorta AŞ
76 million USD and market share standing at 9.71%. Aksigorta Türkiye Hayat ve Emeklilik AŞ
ranked fourth with a market share of 6.38%, which corresponds HDI Sigorta AŞ
to a premium production of 708 million 250 thousand USD; fol- Sompo Sigorta AŞ
lowed by AXA Sigorta with a premium production of 625 million Mapfre Sigorta AŞ
663 thousand USD and a market share of 5.64%. Neova Sigorta AŞ
Next 10 companies
When non-life and life insurance premium production results are Following Companies
viewed separately, we see that rankings remain the same as the