2012-09-12 13:23:19 - Life Insurance in Turkey, Key Trends and Opportunities to 2016: Pension and Superannuation Products to Lead Market Growth - a new market research report on companiesandmarkets.com
Turkey has one of the most underdeveloped life insurance industries among the emerging economies and the life insurance industry in the country contributes less than one percent of total written premiums as a percentage of GDP. The growth of the Turkish life insurance market was driven by the significant increase in sales of individual life insurance products.
The Turkish life insurance market is dominated by private banks that own and control the leading insurance companies. In 2010, bancassurance represented the largest distribution channel for life insurance and pension products. In 2011, the individual life category was the largest in terms of written premium with a total market share of 86.6%.
In Turkey, the regulatory environment has changed over the last decade, which
led to a rise in the interest in the Turkish insurance industry among foreign companies. During the forecast period, the regulations are expected to become more stringent as a result of the new regulatory proposals such as the introduction of Solvency II norms by the Turkish regulatory authority
This report provides a comprehensive analysis of the life insurance market in Turkey:
â¢ It provides historical values for Turkey´s life insurance market for the report´s 2007â2011 review period and forecast figures for the 2012â2016 forecast period
â¢ It offers a detailed analysis of the key sub-segments in Turkey´s life insurance market, along with market forecasts until 2016
â¢ 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
â¢ It analyses the various distribution channels for life insurance products in Turkey
â¢ Using Porter´s industry-standard "Five Forces" analysis, it details the competitive landscape in Turkey for the life insurance business
â¢ It provides a detailed analysis of the reinsurance market in Turkey and its growth prospects
â¢ It profiles the top life insurance companies in Turkey, and outlines the key regulations affecting them
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