2012-09-12 13:25:16 - Non-Life Insurance in Turkey, Key Trends and Opportunities to 2016: Price Wars Will Lead to Further Market Consolidation - a new market research report on companiesandmarkets.com
The Turkish non-life insurance market experienced significant growth driven by a robust economy, increasing awareness and growing motor, property and construction markets. Agencies were the dominant distribution channel for non-life insurance products in Turkey owing to their strong, country-wide networks.
The non-life insurance market in Turkey is highly concentrated with the top ten non-life insurance companies accounting for more than 90% of gross written premiums in 2010. In order to remain competitive, smaller companies offer lower prices on premium products to attract customers, due to lack of differentiation between the products and services within the market. Moreover, deregulation within, and liberalization of, the non-life insurance market has intensified competition among these 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 non-life insurance market in Turkey:
â¢ It provides historical values for Turkey´s non-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 non-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 non-life insurance products in Turkey
â¢ Using Porter´s industry-standard "Five Forces" analysis, it details the competitive landscape in Turkey for the non-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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