| On the non-life insurance segment, Turkish underwritings amounted to USD 1.65 billion in premiums. The leader in terms of premium income, for the first quarter of 2009, is ANADOLU Sigorta, with USD 192 million, followed by AXA Sigorta with USD 187 million and ALLIANZ Sigorta with USD 169 million.
The life insurance business totaled USD 301 million in gross written premiums. The leader of this insurance segment is BASAK GROUPAMA Emeklilik, with USD 93 million and a 31% market share, followed by ANADOLU HAYAT Emeklilik with USD 60 million and GARANTI Emeklilik with USD 29 million.
Despite of the fact that Turkish insurance market continuously grew for the last ten years, 2008 and first quarter of 2009 was a period of a significant decrease of written premiums amounted by Turkish insurers under the effects of global financial crisis and depreciation of Turkish national currency.
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