The insurance market generated total premiums of TRY1.1tn ($22.1bn) in the first nine months of this year, according to statistics released by the Turkish Insurance Association (TSB).
While this represented nominal growth of 28% compared to the corresponding period in 2025, the inflation-adjusted real change was -1.3%, a marginal decline.
Non-life insurance, the main driver of the market, posted premiums of TRY917.8bn, increasing by 25.5% year on year in nominal terms. The non-life branch, which accounted for 83.7% of the total market, experienced a real change of -3.3%.
On the other hand, the momentum gained in life insurance was noteworthy: premiums in this branch reached TRY179.3bn with a strong growth rate of 43%. Life insurance, which increased its market share to 16.3%, showed a real growth rate of 10.2%.
Of the total premiums generated, takaful contributions accounted for TRY68.25bn in the first nine months of 2026, representing a 44.7% growth compared to the corresponding period in 2025.