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Life Insurance in Turkey

Life Insurance in Turkey

Summary

Life Insurance in Turkey industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2013-17, and forecast to 2022). 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 life insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Key Highlights

The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2017 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.
The Turkish life insurance market had total gross written premiums of $1.9bn in 2017, representing a compound annual growth rate (CAGR) of 14.7% between 2013 and 2017.
The life insurance segment was the market's most lucrative in 2017, with total gross written premiums of $1.9bn, equivalent to 100% of the market's overall value.
The Turkish life insurance market has grown very strongly in recent years. It is however important to point out that the base size of the market is rather small indicating that cultural attitudes towards life insurance might be at play here. Swiss Re estimates that life insurance penetration in Turkey is 0.2% of GDP in 2017, compared to the European average of 3.8%.

Scope

  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Turkey
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Turkey
  • Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the Turkey life insurance market with five year forecasts
Reasons to buy
  • What was the size of the Turkey life insurance market by value in 2017?
  • What will be the size of the Turkey life insurance market in 2022?
  • What factors are affecting the strength of competition in the Turkey life insurance market?
  • How has the market performed over the last five years?
  • Who are the top competitiors in Turkey's life insurance market?


Executive Summary
Market value
Market value forecast
Category segmentation
Geography segmentation
Market share
Market rivalry
Market Overview
Market definition
Market analysis
Market Data
Market value
Market Segmentation
Category segmentation
Geography segmentation
Market share
Market Outlook
Market value forecast
Five Forces Analysis
Summary
Buyer power
Supplier power
New entrants
Threat of substitutes
Degree of rivalry
Leading Companies
Allianz Group
Garanti Emeklilik ve Hayat AS
MetLife, Inc.
T.C. Ziraat Bankası A.Ş.
Macroeconomic Indicators
Country data
Methodology
Industry associations
Related MarketLine research
Appendix
About MarketLine
List of Tables
Table 1: Turkey life insurance market value: $ billion, 2013-
Table 2: Turkey life insurance market category segmentation: $ billion,
Table 3: Turkey life insurance market geography segmentation: $ billion,
Table 4: Turkey life insurance market share: % share, by value,
Table 5: Turkey life insurance market value forecast: $ billion, 2017-
Table 6: Allianz Group: key facts
Table 7: Allianz Group: key financials ($)
Table 8: Allianz Group: key financials (€)
Table 9: Allianz Group: key financial ratios
Table 10: Garanti Emeklilik ve Hayat AS: key facts
Table 11: MetLife, Inc.: key facts
Table 12: MetLife, Inc.: key financials ($)
Table 13: MetLife, Inc.: key financial ratios
Table 14: T.C. Ziraat Bankası A.Ş.: key facts
Table 15: Turkey size of population (million), 2013-
Table 16: Turkey gdp (constant 2005 prices, $ billion), 2013-
Table 17: Turkey gdp (current prices, $ billion), 2013-
Table 18: Turkey inflation, 2013-
Table 19: Turkey consumer price index (absolute), 2013-
Table 20: Turkey exchange rate, 2013-
List of Figures
Figure 1: Turkey life insurance market value: $ billion, 2013-
Figure 2: Turkey life insurance market category segmentation: % share, by value,
Figure 3: Turkey life insurance market geography segmentation: % share, by value,
Figure 4: Turkey life insurance market share: % share, by value,
Figure 5: Turkey life insurance market value forecast: $ billion, 2017-
Figure 6: Forces driving competition in the life insurance market in Turkey,
Figure 7: Drivers of buyer power in the life insurance market in Turkey,
Figure 8: Drivers of supplier power in the life insurance market in Turkey,
Figure 9: Factors influencing the likelihood of new entrants in the life insurance market in Turkey,
Figure 10: Factors influencing the threat of substitutes in the life insurance market in Turkey,
Figure 11: Drivers of degree of rivalry in the life insurance market in Turkey,
Figure 12: Allianz Group: revenues & profitability
Figure 13: Allianz Group: assets & liabilities
Figure 14: MetLife, Inc.: revenues & profitability
Figure 15: MetLife, Inc.: assets & liabilities

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