Insurance Brokers in Turkey industry profile provides top-line qualitative and quantitative summary information including: market size (value 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Essential resource for top-line data and analysis covering the Turkey insurance brokers market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
The insurance brokers sector is valued in relation to the total brokerage revenue of non-life insurance and reinsurance brokerage firms. All currency conversions have been carried out at constant annual average 2016 exchange rates.
The Turkish insurance brokers sector had total revenues of $54.6m in 2016, representing a compound annual growth rate (CAGR) of 13.6% between 2012 and 2016.
The primary insurance segment was the sector's most lucrative in 2016, with total revenues of $41.5m, equivalent to 76.1% of the sector's overall value. The Reinsurance segment contributed revenues of $13.1m in 2016, equating to 23.9% of the sector's aggregate value.
Insurance spending in Turkey has been emerging in recent years, as the penetration of insurance products in the country is one of the lowest among developing countries. In detail, insurance spending was estimated at 1.6% of GDP in 2015, increased from the 1.4% in 2012. Furthermore, as the Turkish economy has grown significantly in recent years, the dynamic of this emergence is even bigger. Most importantly, the increasing share of brokers as a distribution channel of insurance products in Turkey has driven the growth of the sector.
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What was the size of the Turkey insurance brokers market by value in 2016?
What will be the size of the Turkey insurance brokers market in 2021?
What factors are affecting the strength of competition in the Turkey insurance brokers market?
How has the market performed over the last five years?
What are the main segments that make up Turkey's insurance brokers market?