Non-Life Insurance in Turkey, Key Trends and Opportunities to 2018

  • ID: 2880489
  • June 2014
  • Region: Turkey
  • 215 pages
  • Timetric
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The report provides in-depth market analysis, information and insights into the Turkish non-life insurance segment, including:
- The Turkish non-life insurance segment’s growth prospects by non-life insurance categories
- Key trends and drivers for the non-life insurance segment
- The various distribution channels in the Turkish non-life insurance segment
- The detailed competitive landscape in the non-life insurance segment in Turkey
- Detailed regulatory policies of the Turkish insurance industry
- A description of the non-life reinsurance segment in Turkey
- Porter's Five Forces analysis of the non-life insurance segment
- A benchmarking section on the Turkish life insurance segment in comparison with other countries with gross written premiums in the US$10–40 billion range.

Non-life was the largest segment in the Turkish insurance industry in 2013, accounting for 70.9% of the total gross written premium. The segment’s gross written premium increased at a review-period (2009-2013) compound annual growth rate (CAGR) of 19.6%. The public’s rising awareness for non-life insurance products, especially the young READ MORE >

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1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Regional Market Dynamics
3.1 Overview
3.1.1 Market trends
3.1.2 Market size
4 Non-Life Insurance Segment – Regional Benchmarking
4.1 Scale and Penetration
4.1.1 Total market gross written premium
4.1.2 Premium per capita
4.1.3 Non-life insurance penetration
4.2 Growth
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a percentage of GDP
4.4 Distribution Channels
4.4.1 Direct marketing
4.4.2 Brokers
4.4.3 Bancassurance
4.4.4 Agencies
5 Turkish Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2009–2018
5.2 Key Industry Trends and Drivers
5.3 Challenges
5.4 Recent Market Developments
6 Non-Life Insurance Outlook
6.1 Consumer Segmentation and Buying Behavior
6.1.1 Cover for individual clients
6.1.2 Cover for corporate clients
6.2 Product and Marketing Strategies
6.2.1 Product strategy
6.2.2 Marketing strategy
6.3 Non-Life Insurance Growth Prospects by Category
6.4 Property Insurance
6.4.1 Fire and allied perils insurance
6.4.2 Engineering insurance
6.4.3 Agriculture insurance
6.4.4 Other property insurance
6.5 Motor Insurance
6.5.1 Motor hull Insurance
6.5.2 Motor third-party Insurance
6.6 Liability Insurance
6.6.1 Workmen’s compensation, industrial accident or employer’s liability insurance
6.6.2 Professional liability insurance
6.6.3 Environmental or hazardous material risk insurance
6.6.4 Other liability insurance
6.7 Marine, Aviation and Transit Insurance
6.7.1 Marine insurance
6.7.2 Marine hull insurance
6.7.3 Marine third-party insurance
6.7.4 Aviation insurance
6.7.5 Aviation hull insurance
6.7.6 Aviation liability insurance
6.7.7 Transit insurance
7 Analysis by Distribution Channel
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 Brokers
8 Porter’s Five Forces Analysis – Turkish Non-Life Insurance Segment
8.1 Bargaining Power of Supplier: Medium
8.2 Bargaining Power of Buyer: Low to Medium
8.3 Barriers to Entry: Medium to High
8.4 Intensity of Rivalry: Medium
8.5 Threat of Substitutes: Low
9 Reinsurance Growth Dynamics and Challenges
9.1 Reinsurance Segment Size, 2009–2018
9.2 Reinsurance Segment Size by Type of Insurance, 2009–2018
10 Governance, Risk and Compliance
10.1 Legislation Overview and Historical Evolution
10.2 Regulations by Type of Insurance
10.2.1 Life insurance regulations
10.2.2 Property insurance regulations
10.2.3 Motor insurance regulations
10.2.4 Marine, aviation and transit insurance regulations
10.2.5 Personal accident and health insurance regulations
10.3 Compulsory Insurance
10.3.1 Motor third-party liability insurance
10.3.2 Civil liability insurance for domestic and foreign aircraft flying within Turkish airspace
10.3.3 Third-party liability insurance for hazardous activities
10.3.4 Earthquake insurance for buildings
10.4 Supervision and Control
10.4.1 International Association of Insurance Supervisors (IAIS)
10.4.2 Undersecretariat of Treasury
10.4.3 Insurance Association of Turkey
10.5 Non-Admitted Insurance Regulations
10.5.1 Overview
10.5.2 Intermediaries
10.5.3 Market practices
10.5.4 Fines and penalties
10.6 Company Registration and Operations
10.6.1 Types of insurance organization
10.6.2 Establishing a local company
10.6.3 Foreign ownership
10.6.4 Types of license
10.6.5 Capital requirements
10.6.6 Solvency margins
10.6.7 Reserve requirements
10.6.8 Investment regulations
10.6.9 Statutory return requirements
10.6.10 Fee structure
10.7 Taxation
10.7.1 Insurance premium or policy taxation
10.7.2 Withholding taxes on premium paid overseas
10.7.3 Corporate tax
10.7.4 VAT
10.7.5 Captives
10.8 Legal System
10.8.1 Introduction
10.8.2 Access to court
10.8.3 Alternative dispute resolution (ADR)
11 Competitive Landscape and Strategic Insights
11.1 Overview
11.2 Leading Companies in the Turkish Non-Life Insurance segment
11.3 Comparison of the Top Five Insurers
11.3.1 Gross written premium
11.3.2 Net earned premium
11.3.3 Gross claims
11.3.4 Paid claims
11.4 Axa Sigorta AS – Company Overview
11.4.1 Axa Sigorta AS – key facts
11.4.2 Axa Sigorta AS – key financials
11.5 Anadolu Sigorta AS – Company Overview
11.5.1 Anadolu Sigorta AS – key facts
11.5.2 AnadoluSigorta AS– key financials
11.6 AK Sigorta AS – Company Overview
11.6.1 AK Sigorta AS – key facts
11.6.2 AK Sigorta AS – key financials
11.7 Allianz Sigorta AS – Company Overview
11.7.1 Allianz Sigorta AS – key facts
11.7.2 Allianz Sigorta AS – key financials
11.8 Gunes Sigorta AS– Company Overview
11.8.1 Gunes Sigorta AS– key facts
11.8.2 Gunes Sigorta AS– key financials
11.9 Groupama Sigorta – Company Overview
11.9.1 Groupama Sigorta – key facts
11.9.2 Groupama Sigorta – key financials
11.1 Yapi Kredi Sigorta AS – Company Overview
11.10.1 Yapi Kredi Sigorta AS – key facts
11.10.2 Yapi Kredi Sigorta AS – key financials
11.11 Mapfre Genel Sigorta AS – Company Overview
11.11.1 Mapfre Genel Sigorta AS – key facts
11.11.2 Mapfre Genel Sigorta AS – key financials
11.12 Ergo Sigorta AS – Company Overview
11.12.1 Ergo Sigorta AS – key facts
11.12.2 Ergo Sigorta AS – key financials
11.13 Sompo Japan Sigorta AS – Company Overview
11.13.1 Sompo Japan Sigorta AS – key facts
11.13.2 Sompo Japan Sigorta AS – key financials
12 Business Environment and Country Risk
12.1 Business Confidence
12.1.1 Market capitalization trend – Istanbul Stock Exchange, Turkey
12.2 Economic Performance
12.2.1 GDP at constant prices (US$)
12.2.2 GDP per capita at constant prices (US$)
12.2.3 GDP at current prices (US$)
12.2.4 GDP per capita at current prices (US$)
12.2.5 GDP by key segments
12.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
12.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
12.2.8 Manufacturing net output at current prices (US$)
12.2.9 Manufacturing net output at current prices as a percentage of GDP
12.2.10 Mining, manufacturing and utilities at current prices (US$)
12.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
12.2.12 Construction net output at current prices, (US$)
12.2.13 Construction net output at current prices as a percentage of GDP
12.2.14 Inflation rate
12.2.15 Exports as a percentage of GDP
12.2.16 Imports as a percentage of GDP
12.2.17 Merchandise exports growth
12.2.18 Merchandise imports growth
12.2.19 Annual average exchange rate TRY–US$
12.3 Infrastructure
12.3.1 Commercial vehicles exports – total value
12.3.2 Commercial vehicles imports – total value
12.3.3 Automotive exports – total value
12.3.4 Automotive imports – total value
12.3.5 Total internet subscribers
12.4 Labor Force
12.4.1 Labor force
12.4.2 Unemployment rate
12.5 Demographics
12.5.1 Household consumption expenditure (US$)
12.5.2 Total population
12.5.3 Urban and rural populations
12.5.4 Age distribution of the total population
13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric’s Services
13.5 Disclaimer

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