According to the information compiled by the AA correspondent from the Insurance Association of Turkey (TSB) data within the scope of Insurance Week, total premium production in the insurance sector increased by 28.1 percent compared to the same period last year, reaching 971.8 billion lira as of the end of August this year.
During this period, premium production in non-life insurance increased by 25.4 percent on an annual basis, reaching 815.7 billion liras. The share of non-life insurance in the sector's total premium production decreased to 83.9 percent from 85.7 percent in the same period last year. While premium production in life insurance increased by 44.3 percent in the same period, reaching 156.1 billion lira, the share of life insurance in total production increased from 14.3 percent to 16.1 percent.
When looked at on a branch basis, motor vehicles liability insurance ranked first with a premium production of approximately 230 billion liras. While premium production in this branch increased by 16.9 percent annually, its share in non-life insurance decreased from 30.2 percent in the same period last year to 28.2 percent.
While premium production in sickness-health insurance increased by 36.2 percent and approached 180 billion lira, the branch's share in total non-life production increased from 20.3 percent to 22.1 percent.
In the fire and natural disasters branch, premium production increased by 23.4 percent and reached 130 billion liras. The share of this branch in total non-life production decreased from 16 percent to 15.7 percent.
Considering the size of the insurance industry with a premium production of approximately 1 trillion liras and the assurance capacity it offers, it seems that various steps have been taken to increase insurance awareness in society.
In this context, Insurance Week, organized with the participation of all stakeholders of the sector, is celebrated with events across Türkiye on 5-11 October in its 15th year. Many topics ranging from climate risks to disasters, from urban resilience to the future of mobility will be discussed in the events to be held throughout the week.
The 5th International Insurance Summit, one of the prominent meetings, will be held in Istanbul on Thursday, October 8. The week will be closed with the 2nd General Assembly of the Turkish World Insurance Association in Gaziantep on Saturday, October 10th.
"Increasing insurance awareness is contributing to society taking firm steps towards the future."
In his statement to the AA correspondent, TSB President Ahmet Yaşar pointed out that premium production shows the financial strength of the sector and its contribution to the economy, and said, "However, in order to see the real impact of our growth in society, we need to look at the increase in the number of policies and how many people and businesses we have reached with these policies. Each new policy is a concrete step towards securing the future of a family, a business or a farmer." he said.
In this context, Yaşar touched upon the 2030 targets and gave the following information:
"We consider our goal of increasing insurance penetration to 5 percent and premium production to 50 billion dollars in 2030, together with our goal of expanding the insured base and reducing the protection gap. In order to realize this vision, we must reach segments that have not yet met insurance, make our products more understandable and accessible, and increase the number of policies and the scope of insurance together. Because the real meaning of our 2030 targets is that more people and businesses can survive safely against risks."
Yaşar also shared his views on Insurance Week and said, "Four Elements. One Assurance" at Insurance Week this year. He said that with their approach, they draw attention to the soil, water, air and fire that form the basis of life.
Yaşar said, "We build our homes and workplaces on the soil, nourish life and production with water, plan according to weather conditions, and produce value with the energy of fire. These four elements, which are the source of our lives, also shape the risks we face." he said.
Stating that insurance contributes to a better understanding of these risks and being prepared for possible losses, Yaşar stated that it supports the protection of labor and savings as well as the continuation of life and production in case of loss.
Yaşar emphasized that insurance is a powerful solidarity mechanism that enables individuals and institutions to look to the future with confidence in the face of uncertainties, and noted that climate events, disasters and changing lifestyles make it more important than ever to evaluate risks correctly and be prepared.
Stating that although the shape of the risks changes, the need for assurance does not change, Yaşar said, "Therefore, increasing insurance awareness is to contribute to the society taking firmer steps towards the future." he said.
Yaşar said, "In the 15th year of Insurance Week, our goal is to convey the message of assurance to all segments of society, together with all stakeholders of our sector, and to explain the importance of insurance in our daily lives with concrete examples. I believe that the events to be held in different cities of Turkey will contribute to our citizens recognizing their own risks and understanding more closely the protection offered by insurance. I would like to thank all the institutions and organizations that contributed to our week, and congratulate all our citizens on Insurance Week." he said.
