Turkiye: Insurance industry surpasses threshold in premium income in 2025
Source: Middle East Insurance Review | Feb 2026
The Turkish insurance market generated total premiums of TRY1.22tn ($28.3bn) in 2025, shooting past the TYR1tn milestone, according to statistics released by the Insurance Association of Turkiye (TBS). The total represents a 45.8% nominal increase compared to 2024.
The statistics, compiled from data from TSB member companies, indicate that demand for insurance continues to grow and the sector’s role within the financial system is strengthening.
Already in December 2025, TSB President Ugur Gulen had assessed the insurance market’s performance in 2025 as a success, based on idustry data for the first 11 months of the year. Mr Gulen said towards the end of December 2025, “We surpassed TRY1tn ($23bn) in premium production and if this trend continues, we expect to finish the year with more than TRY1.2tn in premium production. This represents a premium growth of more than 40% in 2025.”
In comparison, the insurance industry reported total premiums of TRY838.5bn in 2024, a 72.5% y-o-y increase over 2023.
Turkiye’s annual inflation rate declined month by month in 2025 falling from 44.38% in December 2024 to 30.89% in December 2025. The 12-month average inflation rate in Turkiye for 2025 was 34.88%, a significant drop from the 58.51% average recorded in 2024. M