Page 23 - Turkinsurance Digital Magazine

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According to the data announced by the Insurance Association of Turkey (T.S.B.) at the
end of March 2023, the total premium production in the insurance sector amounted to 5
billion 401 million USD, showing an increase of 84.06% compared to the first quarter
of 2022. During this period, non-life branches had a premium production of 4 billion 784
million USD, while the life branch had a premium production of 606 million 698 thousand
USD. (There was a 140.86% increase in total premium production in Turkish Lira. The
lower increase in USD is due to the exchange rate difference. USD/TRY on 31.03.2023
= 19.2165, 31.03.2022 = 14.6855). In the first quarter of the year, liability insuranc-
es, accounting for 23.9% of the total premium production in the sector, had the highest
premium production. The health branch ranked second with a share of 17.81%, while
vehicle insurances ranked third with 16.93%. During this period, the share of fire and
natural disasters branch was 12.59%, general damages branch was 11.95%, life branch
was 11.42%, accident branch was 1.99%, and transportation branch was 1.45%. The
highest increase in premium production was observed in the health branch at the end of the
first three months of 2023. This was followed by vehicle insurances, liability insurances,
accident, fire and natural disasters, life, general damages, and transportation branches.
“Türkiye Sigorta A.Ş. completed the year as the leader with a
total premium production of 633 million 587 thousand USD and
a market share of 11.73%”

At the end of March, in the overall ranking of total premium production in life and non-
life branches, Türkiye Sigorta A.Ş. ranked first with a premium production of 633 million
USD and a market share of 11.73%. Allianz Sigorta rose to the second position with a
premium production of 550 million USD and a market share of 10.19%. Anadolu Anonim
Türk Sigorta Şirketi took the third position with a premium production of 475 million
USD and a market share of 8.81%. HDI Sigorta secured the fourth position with a pre-
mium production of 327 million USD and a market share of 6.06%, while Axa Sigorta
ranked fifth with a premium production of 308 million USD and a market share of 4.98%.
During this period, the top 5 companies that generated the highest premium in non-life
branches were Türkiye Sigorta, Allianz Sigorta, Anadolu Anonim Türk Sigorta Şirketi,
HDI Sigorta, and Axa Sigorta. In life insurance premium production, the top 5 companies
were Türkiye Hayat ve Emeklilik, AgeSA Hayat ve Emeklilik, Anadolu Hayat Emeklilik,
Viennalife Emeklilik ve Hayat, and Allianz Yaşam ve Emeklilik.

Market shares of insurance companies

11,73%
18,81%

10,19%

8,81%
20,14%
6,06%

2,65% 5,71%
2,98% 4,94% 4,98%
2,99%
Türkiye Sigorta AŞ Allianz Sigorta AŞ
Anadolu Anonim Türk Sigorta Şirketi HDI Sigorta AŞ
Axa Sigorta AŞ Aksigorta AŞ
Bupa Acıbadem Sigorta AŞ Bereket Sigorta AŞ
Sompo Sigorta AŞ Türkiye Hayat ve Emeklilik AŞ
Next 10 companies Following Companies