The results for January 2012 have been announced by the Association.
The Premium Production figures of the Insurance Market have grown by 14.68% in Non-Life and 8.43% in Life Insurance respectively.
When we look at the fastest growing lines of business;
-In Fidelity Guarantee, there is a growth of 1016%, especially due to the extraordinary growth in the production of a company (Chartis).
-While Marine growth was 37.72%, the General Damages LoB which also contains Engineering shrank by 4.21%.
–The total share of Motor Third Party Liability, Motor Own Damage and Health LoB’s combined increased to 64% in January 2012 from 62% in January 2011.
The interesting facts about the company rankings are;
-Anadolu Sigorta is the market leader with a 30.43% premium growth. The market share increased by 1.57% to 12.96%.
-A company (Mapfre Genel) which was in the second 10, moved to the top 10 at 5th rank, including the effect of transferring its health portfolio to its non-life company which was under the life company in the past.
-A company (Ergo) which was in the top 10 previously moved down to 11.
-Acibadem Saglik ve Hayat, which was at rank 9 with 4.38% market share at the end of January last year, reached a market share of 6.39% and moved up to rank 6 (Note: the market share of the company at the end of 2011 was 1.19%, and the rank was 19).
Even though January is far too early to reach a general conclusion, it still looks like the ground continues to move in the Insurance Industry.