Page 20 - Turkinsurance Digital Magazine

20 insurance outlook

The percentage of insurance and

actuarial graduates among industry

employees on the rise

According to end-of-year 2023 data, a total of 25,719 people are employed in insurance,
individual pension, and reinsurance companies in Turkey, including direct sales personnel.
In the sector where female employees are more predominant, it is seen that 67 percent of
the personnel are university graduates and 12 percent are graduate graduates. Considering

all levels of education in the sector, excluding direct sales personnel, the number of em-
ployees who have graduated from insurance or actuarial science departments is 1,914. The
sector contributes to youth employment by launching various projects to increase young

employment and attract them to relevant educational departments.

According to data released by the Insurance Association
of Turkey (TSB), the number of people employed in insur- Distribution of employees by
ance, individual pension, and reinsurance companies reached department of graduation
25,719 by the end of 2023. This number was 22,819 in the
same period last year. When agents, brokers, actuaries, and
appraisers are also included in this number, it is revealed that Other 7.919
the sector creates employment for more than 50,000 people.
It is noteworthy that the number of personnel graduating from
insurance /actuarial departments is less than expected com- Business 4.115
pared to other branches of education, while the vast majority
of personnel are university graduates. Employees who have Engineering 2.056
graduated from business fields have a better chance of em-
ployment in the sector. Economy 978

The rapidly developing insurance and pension sector makes Insurance / Actuarial 1.914
a significant contribution to the Turkish economy, while the
area of employment provided by the sector is also growing. Law 401
Considering the sub-divisions such as employees of distribu-
tion channels such as banks, agents, brokers, actuaries, sur-
veyors, company employees, sales professionals, it is believed
that the sector indirectly provides employment to more than
100 thousand people. While the growth and development of Number of employees employed in
the sector continues, this situation makes a significant contri-
bution to the increase in existing employment. the insurance sector by gender

According to the information obtained from TSB data, 140
primary and secondary school equivalent, 1,339 high school Total 11.332
equivalent, 2,396 2-year high school, 12,627 university and 14.387
2,360 graduate graduates are employed in the sector. When
looking at the direct sales personnel side, there are 588 high 2.521
school or equivalent graduates, 1,298 graduates from 2-year Direct sales personnel 4.336
colleges, 4,686 university graduates, and 282 postgraduate
degree holders employed.
Number of employees of the 8.811
There are 71 companies operating in the company 10.051
sector
As of 2024, there are a total of 71 companies operating in Men Women
the sector, including 5 reinsurance companies, 19 pension and