Market Guide: Life Insurance And Pensions In Turkey 2006

Publication Date	October 2007
Publisher	Datamonitor
Product Type	Report
Pages	22
ISBN Number	not applicable
Product Code	DAT07894

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£895.00
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Summary

Introduction

This report is most appropriate for companies looking for an overview of the life insurance and pensions markets in order to assess the level of market opportunity (using our market data and forecasts), regulatory barriers and opportunities, and level of competition in the market. For more detailed market data please refer to Datamonitor's European Life and Pensions Interactive Database 2006.

Scope

Presents competitor market data for life insurance and pensions companies;
Assesses regulatory barriers and opportunities;
5 years historic data from 2001-5 and 5 year forecast to 2010.

Highlights

Pensions account for a growing percentage of the Turkish life and pensions market. Following compound annual growth of 46.9% in the last five years, between 2006 and 2010, growth in the market is set to slow to 43%.

Anadolu Hayat Emeklilik is the largest life insurance provider in Turkey, measured by premium income as at December 2005. In 2005, it was also the 3rd largest private pension company by net asset value of pension mutual funds under management (YTL174,924,615).

Reasons to Purchase

Get an overview of the life and pensions market, including past growth and forecast growth;
Assess regulatory barriers and opportunities affecting life insurance and pensions in this country;
Analyze competition from life insurance companies.

Content

Overview
Catalyst
Summary
Executive Summary
- Following compound annual growth of 46.9% in the last five years, between 2006 and 2010, growth in the Turkish life and pensions market is set to decline slightly to 43%
- The Turkish life and pensions market expanded at a compound annual rate of 46.9% between 2001 and 2005
- Strong growth in both life insurance and pensions will be sustained between 2006 and 2010
- New legislation supports market development
- The market is led by domestic firms
- 4 out of the top 5 life insurance market leaders benefit from the influence of major foreign insurers
Market Overview
- The Turkish life and pensions market expanded at a compound annual rate of 46.9% between 2001 and 2005
- The Turkish life and pensions market experienced compound annual growth of 46.9% between 2001 and 2005
Market Forecasts
- Strong growth in both life insurance and pensions will be sustained between 2006 and 2010
- Over the next 5 years, premium income is set to grow at a compound annual rate of 43%
Market Regulation
- New legislation supports market development
- The Directorate General of Insurance regulates the life insurance and pensions sector
- Turkey's legislative framework for insurance continues to be developed
- New regulations establish investment and reporting guidelines for pensions providers
- Revised tax codes will affect insurance contributions
Competitive Market Structure
- The market is led by domestic firms
- The Turkish life and pensions market is dominated by domestic providers
- The top 5 life insurers control two-thirds of the market by gross premium income
- The top 5 pension mutual funds account for 70% of the market by net asset values
Market Leaders
- 4 out of the top 5 life insurance market leaders benefit from the influence of major foreign insurers
- Anadolu Hayat Emeklilik is the life insurance market leader, based on premium income in 2005
- Aviva Hayat ve Emeklilik trails the market leader in the life insurance sector
- Yapi Kredi Emeklilik ranks third among life insurance companies
- Basak Emeklilik is the fourth highest ranked life insurer by premium income
- Koc Allianz Hayat ve Emeklilik rounds out the top 5 life insurers
Appendix
- Definitions
- Capital redemption policy / bond
- Composite insurer
- Defined contribution pension scheme
- Defined benefits pension scheme
- Group policy
- Individual pension scheme
- Individual policy
- Life assurance
- Occupational pension scheme
- Pension insurance policy
- Premium income
- Regular premium
- Single premium
- Technical provisions
- Traditional insurance
- Unit-linked insurance
- Further reading
- Interactive Databases
- Reports and Briefs
- Ask the analyst
- Datamonitor consulting
- Disclaimer
List of Tables
- Table 1: Life and pensions insurance premium income, segmented by product, EURm, 2001-2005
- Table 2: Life and pensions insurance premium income, segmented by product, in percentages, 2001-2005
- Table 3: Life and pensions insurance premium income, segmented by product, EURm, 2006-2010
- Table 4: Life and pensions insurance premium income, segmented by product, in percentages, 2006-2010
- Table 5: Number of life insurance and pensions providers segmented by type, as at Dec 2005
- Table 6: Top 5 life insurers by gross premium income, as at Dec 2005
- Table 7: Top 5 pension mutual funds by net asset values, as at Dec 2005
List of Figures
- Figure 1: Life premiums accounted for 57% of total premium income in 2005
- Figure 2: Life insurance will continue to account for the majority of life and pensions income
- Figure 3: Domestic insurers represent 88% of the Turkish life and pensions market by number
- Figure 4: Anadolu Hayat Emeklilik leads the Turkish life insurance sector
- Figure 5: Ak Emeklilik leads the Turkish pensions sector