New Insurance research report from Timetric is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 09/19/2013 -- Turkey has one of the fastest-growing emerging economies in the world. Economic reforms in the country in 2001 led to a resurgence in economic activities in subsequent years, as Turkish GDP registered an average growth of 5.0% from 2002 to 2012. Steady economic growth facilitated the expansion of the industry in the country which grew at a review-period CAGR of 12.6%. The low penetration rate of 0.23%, coupled with favorable demographic factors, attracted several foreign companies into the Turkish life segment. Stable economic growth, ongoing regulatory reforms and enhanced distribution channels will drive growth over the forecast period.
- Life insurance was the second-largest segment in the Turkish industry in 2012, accounting for 17.4% of the industry's total written premiums.
- Individual life insurance dominated the segment in 2012, accounting for 75.7% of the segment's gross written premiums
- At the end of 2011, there were 27 insurers operating in the segment, of which 23 have foreign ownership.
- The segment is competitive and concentrated with the 10 leading companies accounting for 85.6% of the gross written premiums in 2011.
- Bancassurance was the preferred distribution channel among life insurers, accounting for 77.2% of the total commission paid in 2012
- Over the forecast period, the Turkish life segment is expected to increase at a CAGR of 13.6%, from TRY3.3 billion (US$2.0 billion) in 2012 to TRY6.3 billion (US$3.8 billion) in 2017"
View Full Report Details and Table of Contents
This report provides a comprehensive analysis of the life insurance segment in Turkey:
- It provides historical values for Turkey's life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Turkey's life insurance segment, along with segments forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for life insurance products in Turkey
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Turkey for the life insurance business
- It provides a detailed analysis of the reinsurance segment in Turkey and its growth prospects
- It profiles the top life insurance companies in Turkey, and outlines the key regulations affecting them"
Reasons to Get This Report
- Make strategic business decisions using top-level historic and forecast market data related to the Turkish life insurance segment and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Turkish life insurance segment
Companies Mentioned in this Report: Ziraat Hayat ve Emeklilik, Anadolu Hayat Emeklilik, Garanti Emeklilik ve Hayat, Halk Hayat ve Emekllilk, Yapi Kredi Emeklilik, Vakif Emeklilik, Finans Emeklilik ve Hayat, AvivaSA Emeklilik ve Hayat, Deniz Emeklilik ve Hayat, Allianz Hayat ve Emeklilik
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