Turkiye: Insurance market set for strong expansion in 2026
Source: Middle East Insurance Review | Feb 2026
2026 is poised to be a year of significant growth for the insurance sector in terms of risk management, digital transformation and sustainability, according to the President of the Insurance Association of Turkiye (TSB), Mr Ugur Gulen, outlining his expectations of the industry for 2026.
Increased risk awareness, growing business structures and rapid technological advancements are boosting demand for fire, earthquake, health and business continuity coverage. In health insurance, the positive impact of regulations, along with the widespread adoption of data sharing and telehealth applications, is significantly increasing both the variety and accessibility of services, he told various local media organisations.
Mr Gulen said that the sector’s target is to increase premium production to nearly TRY2.0tn ($46.2bn) in 2026. In 2025, the insurance market chalked up total premiums of around TRY1.22tn.
The industry’s 2026 goals also include sustainable and balanced growth, strong momentum in health and supplementary health insurance, wider reach in the individual segment, and new product designs suitable for electric and autonomous vehicles. In the traffic insurance branch, the balancing of claims costs due to slowing inflation and the mandatory coverage of motorbikes will contribute to market expansion. Participation insurance (takaful) will continue to grow with the impact of new regulations.
Adding that the Turkish insurance industry looks beyond 2026, Mr Gulen said, “Our long-term vision for 2030 forms the main framework shaping the future of the industry. At the heart of this vision is a ‘more inclusive, more digital, more resilient’ insurance ecosystem.” M