Turkey Insurance Report Q3 2018
The outlook for Turkey's insurance industry is primarily positive, though the market will continue to face some significantstructural challenges. In the life sector, limited capacity for savings and investments among many households means that coveragerates are currently very low and the market will remain hampered by high unemployment rates. In the non-life sector, thedominance of motor insurance, where claims costs have spiralled, means that profit margins for many carriers are slim andcompetition is intense. Despite these challenges, both life and non-life segments are set for robust growth in line with widereconomic expansion in the country.
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