Page 24 - Turkinsurance Digital Magazine

24 pension outlook

Premium production in life insurance over the past 5 years (in TL)

30.858.298.437

17.726.737.287
14.411.204.709
11.358.900.328
6.920.646.675

2018 2019 2020 2021 2022

The life insurance branch, which is known to have significant Looking at the distribution of coverage-based contracts, exclud-
penetration in the insurance sector and has been mentioned for ing savings premiums, we see that the highest share, amounting
years that it needs to develop, could not maintain the growth to 4.9 billion Turkish Liras, came from death benefits.
momentum of 35% it reached in 2017 and achieved a premium
production of 6.9 billion Turkish Liras in 2018. In 2019, the Out of the death benefit premiums, 729.2 million Turkish Liras
branch, which achieved record growth in recent years, reached came from non-loan annual death insurance, 2.4 billion Turk-
a premium production of 11.358 billion Turkish Liras, account- ish Liras came from loan-based annual death insurance, 192.5
ing for 16.4% of the total premium production of 69.2 billion million Turkish Liras came from non-loan long-term death in-
Turkish Liras. Despite the challenging period brought about by surance, and 3.5 billion Turkish Liras came from loan-based
the pandemic, the branch reached a premium production of 14.4 long-term death insurance. Out of the death benefit premiums,
billion Turkish Liras with a growth rate of 26.87% in 2020. In 665.5 million Turkish Liras came from accumulating policies,
2021, life insurance continued its growth and maintained its 3 million Turkish Liras came from survival-based policies, 4.4
success with a premium production of 17.7 billion Turkish Li- billion Turkish Liras came from mixed policies, 114.2 million
ras. In 2022, premium production in the life insurance branch Turkish Liras came from income insurance, and 2.5 million
reached 30.8 billion Turkish Liras. Turkish Liras came from other insurances.

Total premium production, excluding savings Disability benefits constituted 2.9 billion
premiums, amounted to 17.6 billion Turkish Turkish Liras of life insurance premiums
Liras
Disability benefits accounted for 2.9 billion Turkish Liras of life
In life insurance, the total premium production, excluding sav- insurance premiums. Out of the disability benefit, 175.9 mil-
ings premiums, was 17,672,553,629 Turkish Liras in 2022. lion Turkish Liras came from non-loan annual death insurance,
569.9 million Turkish Liras came from loan-based annual death

Life insurance coverage breakdown of premiums in 2022 (TL)

17.672.553.629
Total
Medical Expenses 19.034.559
Other Coverages 11.541.248
Other* -1.255.224.876
Critical Illness 223.339.110

Unemployment/Temporary Disability/Hospital Daily Allowance 1.304.325.239
Survival 2.230.842.724
Disability 2.954.943.512
Death 12.183.752.112

(*) Premiums related to contracts that were not in force at the end of the period, despite premium accrual during the period.