Page 18 - Turkinsurance Digital Magazine

16 insurance outlook

Premium production increased up

to 6 billion 573 thousand USD at the

end of the third quarter

At the end of the third quarter of 2018, premium production of Turkish insurance market
reached 6 billion 573 million USD. Liability insurance line maintained its leadership po-

sition both in terms of written premiums and premium growth rate, with a share of 31.79
percent in overall production results.

According to the 2018 third quarter results announced by the Insur- months. USD/TRY parity was 6.01 as of 30.09.2018, compared to
ance Association of Turkey, overall premium production of Turk- 3.5638 as of 30.09.2017.) Excluding the indirect premiums pro-
ish insurance market reached 6 billion 573 million USD. Premi- duction from the risky insurance pool of compulsory motor third
ums written in the non-life segment stood at 5 billion 667 million party liability insurance which cause duplicity in calculations, over-
USD, while the size of life insurance amounted to 905 million 674 all premiums of the first nine months equaled 6.29 billion USD;
thousand USD. (Overall written premiums grew by 18.16 percent whereas the size of non-life premiums stood at 5.39 billion USD.
according to the TL based figures; however decreased by 29.94
percent according to the USD based figures. The striking differ- Liability insurance line maintained its leadership position in terms
ence occurred due to the severe exchange rate increases of recent of written premiums with a share of 31.79 percent in overall pro-