Page 7 - Turkinsurance Digital Magazine

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Having 6.1 percent of share in the Gross Domestic
Product with 52 billion USD, agricultural production
maintains its sustainability with the contribution of
agricultural insurance. According to TARSİM’s 2017
Annual Report, number of policies grew by 10.6 percent

and written premiums increased by 25.2 percent
compared to the results of 2016.

Due to its relations with overall employment rates, foreign trade and other sectors
within the economy; agricultural production has a strategic value. It is defined as the
driving force of the economy, and accounted for 6.1 percent of Turkey’s GDP as of
2017, with a share of 52 billion USD. Statistics indicate that agricultural GDP in-
creased from 24.3 billion USD in 2002 up to 52 billion USD in 2017. 5.5 million peo-
ple, in other words 19.4 percent of the working population in Turkey, are employed in
the agricultural sector. Turkey has the largest agricultural economy in Europe and is
listed as the world’s 7th largest agricultural economy with more than 30 production
items, 1536 different agricultural products and 186 export partners.

Total premium production in state supported agricultur-
al insurance exceeded 1.6 billion TL

As of 2017, total sum insured by agricultural insurance reached 30 billion 303 mil-
lion TL, total losses occurred stood at 922 million 260 thousand TL, and paid loss-
es amounted to 833 million 85 thousand TL. Besides, overall written premiums in-
creased by 25.2 percent compared to the previous year, reaching 1 billion 628 million
553 thousand TL. In this total amount, 764 million 135 thousand TL were paid by
policyholders and the remaining 864 million 417 thousand TL were provided as state
support. According to the TARSİM 2017 Annual Report, number of agricultural in-
surance policies exceeded 1 million 598 thousand; while number of insured cattle
reached 834.4 thousand and number of insured sheep and goats reached 1 million
722 thousand.

Progess of total sum insured by insurance lines (TL) 30.303.347.858

23.080.720.277

9.287.591.094 13.894.743.746 12.568.120.564 18.378.031.469 15.186.084.440 18.654.875.618

1.961.150.453 1.950.250.230 327.908.415 60.033.504 66.590.225 241.219.825 2.542.975.400 2.474.850.643 343.117.422 109.483.788 56.917.168 282.566.485 3.210.687.752 3.496.848.720 564.161.880 103.658.485 83.436.995 435.842.005 4.594.633.662 5.441.028.015 917.105.832 150.229.204 117.094.253 428.381.275

2014 2015 2016 2017

Crop insurance Greenhouse insurance Cattle insurance Sheeps and goats insurance
Poultry insurance Aquaculture insurance Beehives insurance Grand Total