Page 3 - Turkinsurance Digital Magazine

Dear Readers,

For the November issue of Turkinsurance, we have prepared matic enrollment system (OKS) rose by 7.48%. Meanwhile,
an issue full of news, articles, analyses and researches to shed the total fund size in BES grew by 70.72%, and the OKS
light on Turkish insurance and pension markets. fund amount increased by 57.46%. However, these figures
indicate that the growth momentum of these increases has
slowed down.
The 3rd International Insurance Summit, held on October 1-2
at the Sheraton Grand Ataşehir, brings together key leaders According to the consolidated balance sheet and income
in the insurance sector to address critical issues regarding statements for the end of June 2024, announced by the Tur-
global trends and risks. One of the prominent topics at the key Insurance Association (TSB), the total technical profit in
summit is the global protection gap, which has reached $7.8 the non-life branch reached 39 billion 130 million 398 TL,
trillion, arising from the density of emerging economies. in the life branch it reached 7 billion 608 thousand 461 TL,
and in the pension branch it amounted to 865 million 661
TSB President Uğur Gülen expressed the following in his thousand TL. The total profitability of the sector was seen as
speech at the summit: “We have been taking coordinated TL 47 billion 574 million 521 thousand
steps for a long time, and I thank our Minister and SEDDK
during this process. We have shouldered significant challeng- Allianz Trade updated its Global Economic Outlook Report
es such as the pandemic, economic crises, and earthquakes. with data for the end of 2024. According to the report, while
However, in the last year, the economy has gained positive some areas show continued improvements, “belt-tightening”
momentum, and we expect inflation to be between 10-20% measures are expected to persist. Allianz Trade economists
in 2025. For 13 years, we have emphasized the importance predict that interest rates will remain high for an extended
of insurance at these meetings. This year, we will focus on period. On the positive side, companies have started restock-
changing global trends and risks at our summit.” ing, which is expected to support the recovery in global trade.
The data confirms that the first half of 2024 marks the end
of a 1.5-year period of commercial stagnation.
At the end of the third quarter of 2024, the number of par-
ticipants in the private pension system (BES) increased by Hope to meet with the next issue
10.81% compared to the same period of the previous year,
while the number of participants included through the auto- Your sincerely