Azerbaijan, Baku, Dec. 16 / Trend A. Akhundov /
The Turkish insurance sector collected premiums worth 10.3 billion lire in January-September, or 12.12 percent more than the same period of last year, Turkiye Sigorta ve Reasurans Sirketleri Birligi reported. Life insurance premiums increased by 16.15 percent, non-life insurance grew by 11.4 percent.
During the reporting period, CASCO payments hit 296 million lire, compulsory vehicles insurance reached 245 million lire, and health insurance reached 39 million lire.
The profit on the insurance sector hit 187.194 million lire, or 1.82 percent more than in January-September last year. The profit on the life insurance sector grew 9.55 percent, while non-life insurance seeing a growth of 0.37 percent.
The total tax profit reduced by 44 percent in January-September, compared to the same period of 2009, and amounted to 151,791,000 lire. The profitability of the market has reduced from 5.17 percent to 1.47 percent.
During the reporting period, about 40 percent of the market fell to CASCO and compulsory transport insurance, 16 percent - life insurance, 14 percent - insurance against fire and natural disasters, 12 percent - health insurance.
Roughly 61 insurance and two reinsurance companies operate on the Turkish insurance market.
However, only one reinsurance and 57 insurance companies have operated this year.
The total assets of companies in January-September amounted to 33.87 billion lire.
The official exchange rate is 1,5182 TL/USD.