Page 19 - Turkinsurance Digital Magazine

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In the first half of the year, the total premium production in the insurance sector in-
creased by 52.61% compared to the same period of the previous year, reaching 8.301
billion USD. During this period, liability and vehicle insurance played a prominent role in

premium production, with the most significant increase in premium production observed
in the accident and health insurance branches

According to the data announced by the Insurance Association a premium production of 813 million 999 thousand USD and
of Turkey (T.S.B.) at the end of June 2023, the total premi- a market share of 9.81% during this period, while Anadolu
um production in the insurance sector increased by 52.61% Anonim Türk Sigorta Şirketi retained its third place with a
compared to the second quarter of 2022 and reached 8 billion premium production of 720 million 114 thousand USD and a
301 million USD. During this period, the premium production market share of 8.67%. In this period, AXA Sigorta ranked
in non-life branches increased by 57.73% to USD 7 billion fourth with 507 million 978 thousand USD premium produc-
328 million, while the premium production in the life branch tion and 6.12% market share, while HDI Sigorta ranked fifth
increased by 22.60% to USD 972 million. with 491 million 356 thousand USD premium production and
5.92% market share.
The increase in premium production, in Turkish Lira terms,
was 139.04% in non-life branches and 85.8% in life branches, In this period, the top 5 companies with the highest premi-
resulting in a total increase of 131.28%. The reason for the ums in non-life branches are Türkiye Sigorta, Allianz Sigorta,
lower increase in USD terms was the exchange rate difference. Anadolu Anonim Türk Sigorta Şirketi, Axa Sigorta and HDI
(USD/TRY on 30.06.2023= 25.334; 30.06.2022= 16.7165) Sigorta.

In the second quarter of the year, the branch with the highest In the life insurance branch, the ranking of the top 5 companies
premium production, accounting for 27.62% of the total pre- remained unchanged from the first quarter. Türkiye Hayat ve
mium production in the sector, was general liability insurance, Emeklilik, AgeSA Hayat ve Emeklilik, Anadolu Hayat Emekli-
which includes land, air, water vehicles. During this period, lik, Viennalife Emeklilik ve Hayat, Allianz Yaşam ve Emeklilik
total vehicle insurance, including land, air, water, and rail ve- constituted the top 5 companies in the life insurance branch.
hicles, came in second place with a 18.44% share, and the
health insurance branch ranked third with 15.37%. During
this period, the share of the fire and natural disasters branch Market shares of insurance companies
was 12.59%, the life insurance branch had a share of 12.03%,
general damages branch had a share of 10.18%, the accident
branch had a share of 2.34%, and the transportation branch 11,60%
had a share of 1.43%. 20,04%
9,81%
In the first 6 months of 2023, the highest increase in premium
production was observed in the accident branch. This was fol- 19,33% 8,67%
lowed by health insurance, liability branches, fire and natural
disasters branch, vehicle insurance, general damages, life in- 6,12%
surance, and transportation branch.
2,62% 5,92%
“Türkiye Sigorta A.Ş. completed the first 3,46% 3,66% 5,29%
half of the year as the leader with a total pre- 3,48%
mium production of 963 million 226 thousand Türkiye Sigorta AŞ Allianz Sigorta AŞ
USD and a market share of 11.60%.” Anadolu Anonim Türk Sigorta Şirketi Axa Sigorta AŞ
HDI Sigorta AŞ Aksigorta AŞ
At the end of June, in the overall premium production rank- Sompo Sigorta AŞ Bupa Acıbadem Sigorta AŞ
ing for both life and non-life branches, Türkiye Sigorta A.Ş. Quick Sigorta AŞ Türkiye Hayat ve Emeklilik AŞ
continued to hold the top position with a premium produc-
tion of 963 million 226 thousand USD and a market share Next 10 companies Following Companies
of 11.60%. Allianz Sigorta maintained its second place with