Turkey insurance premiums have double to $2.2 billion: Market set to grow big

Turkey is a country with very low insurance penetration rates and with Turkey’s insurance market which is developing rapidly we can see that Turkish insurance will grow fast. A report from The Benfield Group Ltd “Turkey Insurance Market Review: International Interest,” has revealed that insurance premiums in Turkey have risen and in fact doubled to a staggering $2.2 billion during the last 5 years.

This means that Non life was the fastest growing segment with a superb 29 percent per annum increases over the period. Because of low penetration rates, Economic growth, and expanding population increasing the awareness of insurance is a more robust regulatory environment as really been cited as attractions of the insurance market.

What are you views on the Turkish Insurance Premiums?