The number of insurance policies rose by 34 percent in the first half of this year compared with 2010, reaching 28 million, according to Turkish Statistical Institute, or TurkStat, data. Life insurance policies were worth nearly 1.6 billion liras in premiums out of 7.4 billion liras in total together with other types of insurances. Life insurance increased by 33.3 percent in the same period.
Car insurance had a total of 1.8 billion liras in premiums, growing 23.5 percent in the first half. Health insurance reached a total of 1.1 billion liras with a 20 percent jump compared to 2010.
The competition between insurance companies in Turkey caused a decline in prices for insurance policies. While the companies reached 7 billion liras of total premiums through selling 21.3 million insurance policies in the first half of 2010, they generated only 9 billion liras of total premium through 28 million policy sales in the first half of this year. |
Source : hurriyetdailynews.com
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