Life Insurance & Pension in Turkey
Summary
Life Insurance & Pension in Turkey industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The Turkish life insurance & pension market recorded gross written premiums of $2.3 billion in 2023, representing a compound annual growth rate (CAGR) of 10.2% between 2018 and 2023.
- The life insurance segment accounted for the market's largest proportion in 2023, with total gross written premiums of $2.3 billion, equivalent to 99.8% of the market's overall value.
- The growth in the Turkish life insurance & pension market is driven by the increasing population of individuals aged 65 and above. This demographic shift is fuelling demand for retirement savings plans and income protection policies as people seek financial security for their post-retirement years. According to the United States Census Bureau, the population of individuals aged 65 and above in Turkey stood at 8.0 million in 2023, an increase of 4.8% from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in Turkey
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Turkey
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Turkey life insurance & pension market with five year forecasts
- What was the size of the Turkey life insurance & pension market by value in 2023?
- What will be the size of the Turkey life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the Turkey life insurance & pension market?
- How has the market performed over the last five years?
- What are the main segments that make up Turkey's life insurance & pension market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What are the strategies of the leading players?
- 7.4. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. AgeSA Hayat ve Emeklilik AS
- 8.2. Anadolu Hayat Emeklilik AS
- 8.3. Vienna Insurance Group AG
- 8.4. Turkiye Hayat Ve Emeklilik AS
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Turkey life insurance & pension market value: $ billion, 2018-23
- Table 2: Turkey life insurance & pension market category segmentation: % share, by value, 2018-23
- Table 3: Turkey life insurance & pension market category segmentation: $ billion, 2018-23
- Table 4: Turkey life insurance & pension market geography segmentation: $ billion, 2023
- Table 5: Turkey life insurance & pension market value forecast: $ billion, 2023-28
- Table 6: Turkey life insurance & pension market share: % share, by value, 2023
- Table 7: AgeSA Hayat ve Emeklilik AS: Key Facts
- Table 8: AgeSA Hayat ve Emeklilik AS: Annual Financial Ratios
- Table 9: AgeSA Hayat ve Emeklilik AS: Key Employees
- Table 10: Anadolu Hayat Emeklilik AS: Key Facts
- Table 11: Anadolu Hayat Emeklilik AS: Annual Financial Ratios
- Table 12: Anadolu Hayat Emeklilik AS: Key Employees
- Table 13: Vienna Insurance Group AG: Key Facts
- Table 14: Vienna Insurance Group AG: Annual Financial Ratios
- Table 15: Vienna Insurance Group AG: Key Employees
- Table 16: Turkiye Hayat Ve Emeklilik AS: Key Facts
- Table 17: Turkey Size of Population (million), 2019-23
- Table 18: Turkey Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 19: Turkey GDP (Current Prices, $ Billion), 2019-23
- Table 20: Turkey Inflation, 2019-23
- Table 21: Turkey Consumer Price Index (Absolute), 2019-23
- Table 22: Turkey Exchange Rate, 2018-23
- List of Figures
- Figure 1: Turkey life insurance & pension market value: $ billion, 2018-23
- Figure 2: Turkey life insurance & pension market category segmentation: $ billion, 2018-23
- Figure 3: Turkey life insurance & pension market geography segmentation: % share, by value, 2023
- Figure 4: Turkey life insurance & pension market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the life insurance & pension market in Turkey, 2023
- Figure 6: Drivers of buyer power in the life insurance & pension market in Turkey, 2023
- Figure 7: Drivers of supplier power in the life insurance & pension market in Turkey, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in Turkey, 2023
- Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in Turkey, 2023
- Figure 10: Drivers of degree of rivalry in the life insurance & pension market in Turkey, 2023
- Figure 11: Turkey life insurance & pension market share: % share, by value, 2023
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