Page 3 - Turkinsurance Digital Magazine

Dear Readers,

For the November issue of Turkinsurance, we have prepared 9 million 66 thousand people. During this period, the total
an issue full of news, articles, analyses and researches to shed fund size of the BES was 547 billion 23 million TL, and the
light on Turkish insurance and pension markets. amount of funds received from participants included in the
system through automatic participation was 46 billion 289
Swiss Re has released its regular Sigma report. According million TL.
to the report, economic slowdown, high inflation, and geo-
political uncertainties are putting pressure on the insurance According to the consolidated balance sheet and income
sector. The report emphasizes that inflation continues to be statement data released by the Association of Insurance and
the biggest risk for insurers and predicts that total global Reinsurance Companies of Turkey (TSB) as of June 2023,
premiums will grow below the respective trends of 1.1% and the total underwriting profit in the non-life branch reached
1.7% in real terms in 2023-2024. Digital technology has 23,487,166,000 TL, in the life branch, it was 3,930,089,000
revolutionised value creation. Today, “intangible assets”, in- TL, and in the pension branch, it reached 536,527,000 TL.
cluding digital data, constitute a significant share of econom- The total profitability of the sector was seen as TL 27 billion
ic value and are the source new risk pools. 953 million 783 thousand.

At the end of the third quarter of 2023, the total number of Hope to meet with the next issue
participants in the Private Pension System was 8 million 418
thousand people, while the number of participants included in Your sincerely
the system through automatic participation turned out to be