Page 19 - Turkinsurance Digital Magazine

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According to the results announced by the Insurance At the end of the first quarter of this year, highest pre-
Association of Turkey (TSB) at the end of March mium growth was reported in life insurance branch;
2020, total volume of premiums written by Turkish in- which was followed by health insurance, marine, liabil-
surance market reached 3 billion 312 million USD, up ity insurance, fire and natural forces, vehicle insurance,
by 6.91% compared to the same period of last year. general losses and accident branches.
In the first quarter, premium volume in non-life lines
climbed up by 0.77%, to 2 billion 685 million USD; At the end of the first quarter of 2020, Allianz Sig-
while life insurance premiums increased to 627 million orta maintained its leadership position with written
337 thousand USD with a growth of 44.6% compared premiums standing at 317 million 427 thousand USD,
to the same period of previous year. (According to TL- which corresponds to a market share of 9.58%. Anad-
based results, growth in overall premium volume was olu Anonim Türk Sigorta Şirketi ranked second with a
reported as 24.79%, non-life premiums increased by market share of 8.93% which brought them a premium
17.63%, and life insurance by 68.78%. The difference volume of 295 million 811 thousand USD. Aksigorta
resulted from the difference of exchange rates between followed as third with a premium production of 187 mil-
two years. USD/TL=6.5913 on 31.03.2020; USD/ lion 154 thousand USD and a market share of 5.65%.
TL=5.6470 on 29.03.2019) Ziraat Sigorta climbed up to the fourth position with a
premium production of 177 million 714 thousand USD
“Allianz Sigorta closed the first quarter as and a growing market share of 5.36%. AXA Sigorta
market leader once again, with a premium ranked fifth with a market share of 5.29 percent, and
written premiums standing at 175 million 341 thousand
production of 317 million USD and a mar- USD. Top three companies wrote 24.16% of all market
ket share of 9.58%” premiums, while the top 5 produced the 34.82%.

At the end of the first quarter of 2020, highest volume Highest amount of non-life premiums were written by
of premiums were written in the liability insurance, Allianz Sigorta, Anadolu Anonim Türk Sigorta Şirketi,
which dominates the market with a share of 25.14%. AkSigorta, Ziraat Sigorta, and AXA Sigorta, respec-
Life insurance followed as second with a share of tively.
18.94% in overall premium production, and health in-
surance ranked third with a share of 15.12%. During On the other hand, top 5 companies of the life insurance
the first quarter, share of general losses were reported premium volume were listed as Ziraat Hayat ve Emekli-
as 11.81%, vehicle insurance 11.67%, fire and natural lik, Anadolu Hayat Emeklilik, Allianz Yaşam ve Emek-
forces 11.4%, accident 2.93%, and marine 1.46%. lilik, Metlife Emeklilik ve Hayat, and Garanti Emeklilik
ve Hayat, respectively.

Market shares of insurance companies

9,58% Allianz Sigorta AŞ
Anadolu Anonim Türk Sigorta Şirketi
24,68% 8,93% Aksigorta AŞ

Ziraat Sigorta AŞ
5,65% Axa Sigorta AŞ
Bupa Acıbadem Sigorta AŞ
5,36% Sompo Sigorta AŞ

HDI Sigorta AŞ
5,29%
22,08% Mapfre Sigorta AŞ
4,48% Ziraat Hayat ve Emeklilik AŞ
Next 10 Companies
4,00% Following Companies
3,06% 3,19% 3,68%