Non-Life Insurance in Turkey
Summary
Non-Life Insurance in Turkey industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 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
- Non-life insurance is defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event. The market value is measured by the written premium generated by market players within a given year.
- The Turkish non-life insurance market recorded written premiums of $18.0 billion in 2023, representing a compound annual growth rate (CAGR) of 12.7% between 2018 and 2023.
- The motor segment accounted for the market's largest proportion in 2023, with total written premiums of $8.5 billion, equivalent to 47.4% of the market's overall value.
- The Turkish non-life insurance market is experiencing significant growth, driven by rising awareness of the importance of insurance in safeguarding assets and mitigating financial risks. This heightened awareness has led to an increase in the number of active non-life insurance policies. According to the Insurance Association of Turkey, in 2023, the number of active non-life insurance policies in the country reached 64.7 million, an increase of 6.3% from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the non-life insurance market in Turkey
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Turkey
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Turkey non-life insurance market with five year forecasts by both value and volume
- What was the size of the Turkey non-life insurance market by value in 2023?
- What will be the size of the Turkey non-life insurance market in 2028?
- What factors are affecting the strength of competition in the Turkey non-life insurance market?
- How has the market performed over the last five years?
- How large is Turkey’s non-life insurance market in relation to its regional counterparts?
- 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. Turkiye Sigorta AS
- 8.2. Allianz SE
- 8.3. Anadolu Anonim Turk Sigorta Sirketi
- 8.4. Talanx AG
- 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 non-life insurance market value: $ billion, 2018-23
- Table 2: Turkey non-life insurance market category segmentation: % share, by value, 2018-23
- Table 3: Turkey non-life insurance market category segmentation: $ billion, 2018-23
- Table 4: Turkey non-life insurance market geography segmentation: $ billion, 2023
- Table 5: Turkey non-life insurance market value forecast: $ billion, 2023-28
- Table 6: Turkey non-life insurance market share: % share, by value, 2023
- Table 7: Turkiye Sigorta AS: Key Facts
- Table 8: Turkiye Sigorta AS: Annual Financial Ratios
- Table 9: Turkiye Sigorta AS: Key Employees
- Table 10: Allianz SE: Key Facts
- Table 11: Allianz SE: Annual Financial Ratios
- Table 12: Allianz SE: Key Employees
- Table 13: Allianz SE: Key Employees Continued
- Table 14: Anadolu Anonim Turk Sigorta Sirketi: Key Facts
- Table 15: Anadolu Anonim Turk Sigorta Sirketi: Annual Financial Ratios
- Table 16: Anadolu Anonim Turk Sigorta Sirketi: Key Employees
- Table 17: Talanx AG: Key Facts
- Table 18: Talanx AG: Annual Financial Ratios
- Table 19: Talanx AG: Key Employees
- Table 20: Turkey Size of Population (million), 2019-23
- Table 21: Turkey Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 22: Turkey GDP (Current Prices, $ Billion), 2019-23
- Table 23: Turkey Inflation, 2019-23
- Table 24: Turkey Consumer Price Index (Absolute), 2019-23
- Table 25: Turkey Exchange Rate, 2018-23
- List of Figures
- Figure 1: Turkey non-life insurance market value: $ billion, 2018-23
- Figure 2: Turkey non-life insurance market category segmentation: $ billion, 2018-23
- Figure 3: Turkey non-life insurance market geography segmentation: % share, by value, 2023
- Figure 4: Turkey non-life insurance market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the non-life insurance market in Turkey, 2023
- Figure 6: Drivers of buyer power in the non-life insurance market in Turkey, 2023
- Figure 7: Drivers of supplier power in the non-life insurance market in Turkey, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Turkey, 2023
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Turkey, 2023
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in Turkey, 2023
- Figure 11: Turkey non-life insurance market share: % share, by value, 2023
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook