Turkish insurance sector premium production rises 28% in first nine months

According to data from the Insurance Association of Turkey, the insurance sector's total premium production reached 1 trillion 97 billion 137.4 million lira during the first nine months of the year, marking a 28% increase compared to the same period last year.

Non-life insurance accounted for 917 billion 814.6 million lira, representing 83.7% of the total, while life insurance reached 179 billion 322.8 million lira, increasing its share to 16.3%. While nominal figures grew, the sector experienced a real contraction of 1.3% when adjusted for inflation. Specifically, non-life insurance fell by 3.3% in real terms, whereas life insurance grew by 10.2%.

In the non-life segment, land vehicle liability—including compulsory traffic insurance—was the largest category, generating 261 billion 932.6 million lira. Other significant contributors included health and sickness (202 billion 847.1 million lira), fire and natural disasters (143 billion 792.4 million lira), and motor insurance (124 billion 178.3 million lira).