Page 3 - Turkinsurance Digital Magazine

Dear Readers,

For the November issue of Turkinsurance, we have prepared The life branch—known to have significant penetration in
an issue full of news, articles, analyses and researches to the insurance sector and long recognized as an area needing
shed light on Turkish insurance and pension markets. development—failed to maintain the growth momentum of
35% achieved in 2017 and produced 6.9 billion TL in pre-
PwC’s Insurance Banana Skins 2025 report reveals that cy- miums in 2018. In 2019, the branch achieved the strongest
ber-crime, AI misuse, and failure to modernize are the top growth of recent years, accounting for 16.4% of the total
three risks facing the global insurance sector. Insurers must premium production of 69.2 billion TL and reaching 11
now contend not only with traditional risks but also with the billion 358 million TL in premium production. The branch
fast-evolving dynamics of technology. reached 14.4 billion TL in premium production in 2020,
despite the challenging conditions brought by the pandemic,
According to the consolidated balance sheet and income achieving a growth rate of 26.87%. Continuing its growth
statements for the end of June 2025 announced by the In- in 2021, life insurance maintained its success with 17.7 bil-
surance Association of Türkiye (TSB), the total technical lion TL in premium production. In 2022, premium produc-
profit in the non-life branch reached 66,746,451,000 TL, tion in the life branch reached 30.8 billion TL.
while the life branch reached 14,430,784,000 TL, and the
pension branch reached 810,813,000 TL. The sector’s total Garanti BBVA Emeklilik General Manager Gökhan Koca
profitability was recorded as 81,988,049,000 TL. said; “While the sector-wide growth in contribution amounts
in BES stands at around 41%, for us this rate has reached
Life insurance, which produced 23.4 billion TL in premiums approximately 52%.”
in the first half of 2024, reached 42 billion 89 million TL
in premium production in the first half of 2025. The life Hope to meet with the next issue
branch, which is expected to close the year with significant Your sincerely
premium production, continues its growth. The figures re-
veal the strong momentum in life insurance.