Finance

Home page

Finance

Türkiye sets ambitious goal to double insurance market to $44.3 billion by 2030

28 October 2025 15:28 (UTC +04:00)

Türkiye aims to double the insurance market by 2030, said Özgür Obalı, Secretary General of the Turkish Insurance Association (TSB), who spoke at the Turkic States InsurTech Summit, APA-Economics reports.

The country aims to double insurance penetration by 2030 and increase total insurance premiums to 44.3 billion US dollars.

According to him, the Turkish insurance sector has shown sustainable growth in recent years. In 2024, insurance penetration increased to a historical maximum of 2.5% and it is planned to increase this figure to 4.7% by 2030.

According to the forecasts presented, total insurance premiums will increase from 25.8 billion dollars in 2024 to 44.3 billion dollars in 2030, which is an increase of 72%.

Özgür Obalı noted that this dynamic will be achieved through digital transformation, product innovations and government incentives. He emphasized that the expansion of the insurance sector will contribute not only to the Turkish economy, but also to the integration of insurance markets and the strengthening of mutual cooperation among Turkic states.