Turkiye: Insurance and pension sector set for bold transformation

Source: Middle East Insurance Review | Jun 2026

The Insurance Association of Turkiye (TSB) has released a comprehensive position paper, offering policy recommendations for a more inclusive, accessible, and sustainable insurance ecosystem.

The position paper, titled “State of the Insurance and Pension Sector Report”, says that central to the TSB’s 2030 vision, the goal is to increase total premium production to $50bn and raise the insurance penetration rate to 4.7% by the end of this decade. This growth is not merely quantitative but also essential for reducing the risk burden on public finances and providing long-term investment financing, TSB says.

Policy recommendations

The report emphasises the need for the insurance sector to position itself not only as a structure that addresses today’s risks, but also as one that provides solutions for the economic and social needs of the future. Its proposals include:

Strengthening the insurance sector’s capital structure
Restructuring, increasing quality, and diversifying distribution channels
Introducing new products
Promoting retirement funding

“If these reform proposals are implemented,” the TSB said, “insurance will become the permanent insurance of Turkey’s macroeconomic resilience”. M

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