Turkey Non-Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Non-Life Insurance in Turkey industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.
- The Turkish non-life insurance market had total gross written premiums of $7.6 billion in 2022, representing a compound annual growth rate (CAGR) of 12.8% between 2017 and 2022.
- The Motor segment accounted for market's the largest proportion in 2022, with total gross written premiums of $3.3 billion, equivalent to 43.3% of the market's overall value.
- According to GlobalData, the insurance penetration rates in the country in the motor segment has increased in 2022 at 1.36% compared to 1.08% in 2021 whereas the insurance penetration rates in the country in the property segment has decreased in 2022 at 7.18% compared to 7.46% in 2021.
- 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
- What was the size of the Turkey non-life insurance market by value in 2022?
- What will be the size of the Turkey non-life insurance market in 2027?
- 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?
- 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 strategies do leading players follow?
- 7.4. What are the strengths of leading players?
- 7.5. What has been the most significant M&A activity this year?
- 7.6. How has the COVID-19 outbreak impacted the market?
- 8 Company Profiles
- 8.1. Aksigorta AS
- 8.2. Allianz SE
- 8.3. Turkiye Sigorta AS
- 8.4. Anadolu Anonim Turk Sigorta Sirketi
- 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, 2017-22(e)
- Table 2: Turkey non–life insurance market category segmentation: % share, by value, 2017–2022(e)
- Table 3: Turkey non-life insurance market category segmentation: $ billion, 2017-2022
- Table 4: Turkey non–life insurance market geography segmentation: $ billion, 2022(e)
- Table 5: Turkey non-life insurance market value forecast: $ billion, 2022-27
- Table 6: Turkey non-life insurance market share: % share, by value, 2022(e)
- Table 7: Aksigorta AS: key facts
- Table 8: Aksigorta AS: Annual Financial Ratios
- Table 9: Aksigorta 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: Turkiye Sigorta AS: key facts
- Table 15: Turkiye Sigorta AS: Annual Financial Ratios
- Table 16: Turkiye Sigorta AS: Key Employees
- Table 17: Anadolu Anonim Turk Sigorta Sirketi: key facts
- Table 18: Anadolu Anonim Turk Sigorta Sirketi: Annual Financial Ratios
- Table 19: Anadolu Anonim Turk Sigorta Sirketi: Key Employees
- Table 20: Turkey size of population (million), 2018–22
- Table 21: Turkey gdp (constant 2005 prices, $ billion), 2018–22
- Table 22: Turkey gdp (current prices, $ billion), 2018–22
- Table 23: Turkey inflation, 2018–22
- Table 24: Turkey consumer price index (absolute), 2018–22
- Table 25: Turkey exchange rate, 2017–21
- List of Figures
- Figure 1: Turkey non-life insurance market value: $ billion, 2017-22(e)
- Figure 2: Turkey non-life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: Turkey non–life insurance market geography segmentation: % share, by value, 2022(e)
- Figure 4: Turkey non-life insurance market value forecast: $ billion, 2022-27
- Figure 5: Forces driving competition in the non-life insurance market in Turkey, 2022
- Figure 6: Drivers of buyer power in the non-life insurance market in Turkey, 2022
- Figure 7: Drivers of supplier power in the non-life insurance market in Turkey, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Turkey, 2022
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Turkey, 2022
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in Turkey, 2022
- Figure 11: Turkey non-life insurance market share: % share, by value, 2022(e)
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