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Tunisia

Life Report

Product Insurance Market Reports Life Rev Tunisia

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice

 

  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Turkey's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Turkey's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Turkey

The Turkey life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Turkey.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Turkey and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Turkey’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Turkey is available.

Axco’s report describes the regulatory framework that applies to the Turkish domestic life insurance sector, including whether non-admitted insurance is permitted in Turkey; as well as the legislation necessary to know regarding Turkey’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Turkey with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Turkish market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

Healthcare

The report describes the public and private healthcare system in Turkey, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Pensions

Axco reports on the three pillars of Turkish pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Turkey report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Turkey Life and Benefits Report Extract

Below are brief extracts of information from the Turkey Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

Turkey's life market is young but one of considerable long-term potential. From market premium of TRY 326.2mn (USD 46.34mn) in 2000 it reported TRY 11.35bn (USD 1.61bn) in 2019, following exceptional growth of 64% over the previous year with a longer term compound average annual growth rate of 20.5% since 2000.

Low life insurance penetration, around a quarter that of ....

Pensions

Turkey has a young and immature private pensions market with low cover levels, but government reforms, notably the introduction of auto enrolment (AE), are promoting its rapid expansion. Further changes to private pensions were among structural reforms proposed by the Treasury in April 2019 in its New Economy Program 2019-202 ....

Healthcare

The 2003 Health Transformation Program (HTP) set Turkey on a path towards high quality universal health cover for all Turkish citizens. Subsequent legislation in 2008 introduced the Universal Health Insurance System, fully implemented from 2012. This mandates health service provision is available to all and consolidated health insurance scheme administration into the Social Security Institution (Sosial Güvenlik Kurumu - SGK). Public healthcare spending accounted for 78% of total healthcare spending in 2015 ....

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