Turkiye: Life insurance business generates lower premiums but higher profits

Source: Middle East Insurance Review | Jul 2025

Türkiye’s insurance industry posted net profits of TRY34bn ($863m) for the first three months of 2025, according to data from the Insurance Association of Turkiye (TSB).

TSB president Ugur Gulen said that 30% or TRY11-12bn of the total profits was generated by life insurance and 70% by non-life insurance.

However, the life business generally accounts for 10% of total premiums. This amounted to about TRY35bn in 1Q2025. The total premiums generated by the overall insurance market in the first three months of this year reached TRY304bn.

Mr Gulen said, “The industry maintains this balance most of the time. Life always has less premiums and higher profits. Non-life, on the other hand, contributes more premiums and a little less to profits.” M

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