Non-Life Insurance in Turkey - Market Summary, Competitive Analysis and Forecast to 2025

Non-Life Insurance in Turkey industry profile provides top-line qualitative and quantitative summary information including: market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.
The Turkish non-life insurance market had total gross written premiums of $8.7bn in 2020, representing a compound annual growth rate (CAGR) of 15.5% between 2016 and 2020.
The motor segment was the market's most lucrative in 2020, with total gross written premiums of $4.3bn, equivalent to 49.4% of the market's overall value.
In comparison to other European countries, Turkey is particularly vulnerable to natural disasters. On the one hand, this has stimulated demand for non-life insurance policies as customers seek to protect their homes and their belongings from such events. However, it has also resulted in significant insured losses, constraining growth somewhat.

Scope

Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Turkey
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Turkey
Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the Turkey non-life insurance market with five year forecasts

Reasons to Buy

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Frequently Asked Questions about the Non-Life Insurance Market in Turkey

What is the estimated value of the Non-Life Insurance Market in Turkey?

The Non-Life Insurance Market in Turkey was estimated to be valued at $8.75 Billion in 2020.

What is the growth rate of the Non-Life Insurance Market in Turkey?

The growth rate of the Non-Life Insurance Market in Turkey is 7.1%, with an estimated value of $12.33 Billion by 2025.

What is the forecasted size of the Non-Life Insurance Market in Turkey?

The Non-Life Insurance Market in Turkey is estimated to be worth $12.33 Billion by 2025.

Who are the key companies in the Non-Life Insurance Market in Turkey?

Key companies in the Non-Life Insurance Market in Turkey include Allianz SE, Anadolu Anonim Turk Sigorta Sirketi and Aksigorta AS.

Report Attribute	Details
No. of Pages	43
Published	November 2021
Forecast Period	2020 - 2025
Estimated Market Value ( USD ) in 2020	$ 8.75 Billion
Forecasted Market Value ( USD ) by 2025	$ 12.33 Billion
Compound Annual Growth Rate	7.1%
Regions Covered	Turkey

1 Executive Summary

1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape

2 Market Overview

2.1. Market definition
2.2. Market analysis

3 Market Data

3.1. Market value

4 Market Segmentation

4.1. Category segmentation
4.2. Geography segmentation

5 Market Outlook

5.1. Market value forecast

6 Five Forces Analysis

6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry

7 Competitive Landscape

7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What are the strengths of leading players?
7.5. What has been the most significant M&A activity this year?
7.6. How has the COVID - 19 outbreak impacted the market?

8 Company Profiles

8.1. Allianz SE
8.2. Anadolu Anonim Turk Sigorta Sirketi
8.3. Aksigorta AS

9 Macroeconomic Indicators

9.1. Country data

10 Appendix

10.1. Methodology
10.2. Industry associations
10.3. Related Research
10.4. About The Publisher

List of Tables

Table 1: Turkey non-life insurance market value: $ billion, 2016 - 20
Table 2: Turkey non-life insurance market category segmentation: $ billion, 2020
Table 3: Turkey non-life insurance market geography segmentation: $ billion, 2020
Table 4: Turkey non-life insurance market value forecast: $ billion, 2020 - 25
Table 5: Turkey non-life insurance market share: % share, by value, 2020
Table 6: Allianz SE: key facts
Table 7: Allianz SE: Annual Financial Ratios
Table 8: Allianz SE: Key Employees
Table 9: Allianz SE: Key Employees Continued
Table 10: Anadolu Anonim Turk Sigorta Sirketi: key facts
Table 11: Anadolu Anonim Turk Sigorta Sirketi: Annual Financial Ratios
Table 12: Anadolu Anonim Turk Sigorta Sirketi: Key Employees
Table 13: Aksigorta AS: key facts
Table 14: Aksigorta AS: Annual Financial Ratios
Table 15: Aksigorta AS: Key Employees
Table 16: Turkey size of population (million), 2016 - 20
Table 17: Turkey gdp (constant 2005 prices, $ billion), 2016 - 20
Table 18: Turkey gdp (current prices, $ billion), 2016 - 20
Table 19: Turkey inflation, 2016 - 20
Table 20: Turkey consumer price index (absolute), 2016 - 20
Table 21: Turkey exchange rate, 2016 - 20

List of Figures

Figure 1: Turkey non-life insurance market value: $ billion, 2016 - 20
Figure 2: Turkey non-life insurance market category segmentation: % share, by value, 2020
Figure 3: Turkey non-life insurance market geography segmentation: % share, by value, 2020
Figure 4: Turkey non-life insurance market value forecast: $ billion, 2020 - 25
Figure 5: Forces driving competition in the non-life insurance market in Turkey, 2020
Figure 6: Drivers of buyer power in the non-life insurance market in Turkey, 2020
Figure 7: Drivers of supplier power in the non-life insurance market in Turkey, 2020
Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Turkey, 2020
Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Turkey, 2020
Figure 10: Drivers of degree of rivalry in the non-life insurance market in Turkey, 2020
Figure 11: Turkey non-life insurance market share: % share, by value, 2020