Page 3 - Turkinsurance Digital Magazine

Dear Readers,

For the September issue of Turkinsurance, we have prepared um production in the insurance sector increased by 80.68%
an issue full of news, articles, analyses and researches to shed compared to the second quarter of 2023 and reached 380
light on Turkish insurance and pension markets. billion 393 million TL. During this period, the premium pro-
duction in non-life branches increased by 81.32% to TL 337
S&P Global’s Top Geopolitical Risks for 2024 report high- billion 49 million, while the premium production in the life
lights numerous interconnected threats and underscores branch increased by 75.91% to TL 43 billion 343 million.
the importance of international collaboration in overcom-
ing them. In a world rapidly shifting from globalization to In the Private Pension System, the fund amount of the par-
geopolitics—exacerbated by shocks such as the COVID-19 ticipants in the first 7 months of 2024 exceeded 987 billion
pandemic and the ongoing Russia-Ukraine conflict—glob- TL. In the first 6 months of the year, stock funds were the
al structures and relationships are undergoing a profound fund group that gave the most to its investors with a return
transformation. Key risks identified for 2024 include Rus- rate of 55.39 percent, while the fund group with the highest
sia-NATO tensions, cybersecurity threats, U.S.-China strate- occupancy rate was precious metals funds.
gic competition, deglobalization, and climate-related risks.
In the Individual Retirement System, the total fund size of
In the second quarter of the year, total premium production participants reached 987.6 billion TL by the end of the first
in the insurance sector increased by 80.68% compared to the seven months of 2024. In the first half of the year, the funds
same period last year, reaching 380 billion 393 million TL. that generated the highest proportional returns were respec-
During this period, the largest increase in premium produc- tively: equity funds, mixed & flexible funds, fund of funds,
tion was observed in the fire and natural disasters and health participation funds, precious metals, and fixed income in-
sectors, while liability insurance and health insurance were struments funds.
the sectors with the most significant growth.
Hope to meet with the next issue
According to the data announced by the Insurance Association
of Turkey (T.S.B.) at the end of June 2024, the total premi- Your sincerely