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Life Insurance in Turkey, Key Trends and Opportunities to 2020

Life Insurance in Turkey, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in Turkey Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Turkish life insurance segment, and a comparison of the Turkish insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Turkish economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in Turkey Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Turkish life insurance segment, including:

  • An overview of the Turkish life insurance segment
  • The Turkish life insurance segment’s growth prospects by category
  • A comprehensive overview of the Turkish economy and demographics
  • A comparison of the Turkish life insurance segment with its regional counterparts
  • The various distribution channels in the Turkish life insurance segment
  • Details of the competitive landscape in the life insurance segment in Turkey
  • Details of regulatory policy applicable to the Turkish insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Turkey:
  • It provides historical values for the Turkish life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Turkish life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Turkish life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for life insurance products in Turkey.
  • It profiles the top life insurance companies in Turkey and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Turkish life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Turkish life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Turkish insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • A new regulation for calculating adequate solvency capital for insurance, reinsurance and private pension companies came into effect on August 23, 2015.
  • On August 25, 2016, amendments to Law no. 4632 on private pensions in Turkey received approval from the Turkish government.
  • Turkish life insurance penetration stood at 0.2% in 2015 .
  • Bancassurance is an important and integral part of the life insurance distribution channels in the country.


  • Key Facts and Highlights
    • Table Turkish Life Insurance - Key Facts, 2015
    • Table Turkish Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Turkish Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Turkish Life Insurance - Gross Written Premium (TRY Billion and US$ Billion), 2011-2015
        • Table Turkish Life Insurance - Penetration (%), 2011-2015
        • Table Turkish Life Insurance - Gross Written Premium (TRY Billion and US$ Billion), 2015-2020
        • Table Turkish Life Insurance - Penetration (%), 2015-2020
        • Table Turkish Life Insurance - Premium per Capita (TRY and US$), 2011-2015
        • Table Turkish Life Insurance - Premium per Capita (TRY and US$), 2015-2020
      • Policies sold
        • Table Turkish Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Turkish Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Turkish Life Insurance - Paid Claims (TRY Billion and US$ Billion), 2011-2015
        • Table Turkish Life Insurance - Paid Claims (TRY Billion and US$ Million), 2015-2020
      • Assets and investments
        • Table Turkish Life Insurance - Total Assets (TRY Billion and US$ Billion), 2011-2015
        • Table Turkish Life Insurance - Total Assets (TRY Billion and US$ Billion), 2015-2020
        • Table Turkish Life Insurance - Total Investment Income (TRY Million and US$ Million), 2011-2015
        • Table Turkish Life Insurance - Total Investment Income (TRY Million and US$ Million), 2015-2020
        • Table Turkish Life Insurance - Investment Portfolio (TRY Billion), 2011-2015
        • Table Turkish Life Insurance - Investment Portfolio (TRY Billion), 2015-2020
  • Outlook by Sub-Segment
    • Individual Life Insurance
      • Premium
        • Table Turkish Individual Life Insurance - Direct Written Premium by Category (TRY Billion), 2011-2015
        • Table Turkish Individual Life Insurance - Direct Written Premium by Category (TRY Billion), 2015-2020
      • Policies sold
        • Table Turkish Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
        • Table Turkish Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
      • Penetration
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Bancassurance
      • Direct marketing
      • Agencies
      • Brokers
  • Competitive Landscape
    • Table Turkish Life Insurance - Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • Ziraat Hayat ve Emeklilik Aª - company overview
        • Table Ziraat Hayat ve Emeklilik - Key Facts
        • Table Ziraat Hayat ve Emeklilik - Key Financials (TRY Million), 2011-2015
      • Allianz Yaºam ve Emeklilik Aª - company overview
        • Table Allianz Yaºam ve Emeklilik - Key Facts
        • Table Allianz Yaºam ve Emeklilik - Key Financials (TRY Million), 2011-2015
      • Anadolu Hayat Emeklilik Aª - company overview
        • Table Anadolu Hayat Emeklilik - Key Facts
        • Table Anadolu Hayat Emeklilik - Key Financials (TRY Million), 2011-2015
      • Garanti Emeklilik ve Hayat Aª - company overview
        • Table Garanti Emeklilik ve Hayat - Key Facts
        • Table Garanti Emeklilik ve Hayat - Key Financials (TRY Million), 2011-2015
      • Halk Hayat ve Emeklilik Aª - company overview
        • Table Halk Hayat ve Emeklilik - Key Facts
        • Table Halk Hayat ve Emeklilik - Key Financials (TRY Million), 2011-2015
  • Governance, Risk and Compliance
    • Table Turkey - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life Insurance
        • Table Turkey - Life Insurance Regulatory Framework
      • Property Insurance
        • Table Turkey - Property Insurance Regulatory Framework
      • Motor Insurance
        • Table Turkey - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Turkey - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third party liability insurance
        • Table Turkey - Tariff Rate for Motor Third-Party Liability Insurance
        • Table Turkey - Motor Third-Party Liability Insurance Cover Limits (TRY)
        • Table Turkey - Motor Third-Party Liability Insurance Cover Limits (US$)
      • Civil liability insurance for domestic and foreign aircraft flying within Turkish airspace
        • Table Turkey - Compensation Provided by the Insurer in the Event of Accident by Domestic Air Carriage
      • Third-party liability insurance for hazardous activities
      • Earthquake insurance for buildings
        • Table Turkey - Tariff Rates Based on Earthquake Zones and Building Type
      • Liability insurance for clinical trials
      • Professional liability insurance for insurance and reinsurance brokers
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Undersecretariat of Treasury
      • Insurance Association of Turkey
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas.
      • Corporate tax
        • Table Turkey - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Turkish Life Insurance - Policies and Premium, 2011-2015
      • Table Turkish Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Turkish Life Insurance - Claims and Expenses, 2011-2015
      • Table Turkish Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Turkish Life Insurance - Assets and Investments, 2011-2015
      • Table Turkish Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing
      • Table Turkish Life Insurance - Direct Marketing, 2011-2015
      • Table Turkish Life Insurance - Direct Marketing, 2015-2020
    • Insurance Brokers and Agencies
      • Table Turkish Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Turkish Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance
      • Table Turkish Life Insurance - Bancassurance, 2011-2015
      • Table Turkish Life Insurance - Bancassurance, 2015-2020
    • Individual Life Insurance
      • Table Turkish Life Insurance - Individual Life Insurance, 2011-2015
      • Table Turkish Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Turkish Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Turkish Life Insurance - Individual Life Insurance by Product, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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