Turkey Insurance Sets New Record in Premium Production
Türkiye Sigorta (TURSG) has increased its total premium production by 76% as of the first 11 months of 2024, reaching 89.3 billion TL. This increase strengthens the company’s leading position in the sector and reflects the success of its customer-focused approach and effective risk management strategies. Taha Çakmak, the General Manager of Türkiye Sigorta, stated that this performance in 2024 indicates the company's continued contribution to the economy through innovative services.
In the fire and natural disasters sector, the company saw a 107% increase in premium production, reaching 23.5 billion TL, while the health sector recorded a 187% growth, achieving 7.7 billion TL in production. In the engineering sector, premium production rose by 179% to 6.3 billion TL. These growth rates demonstrate Türkiye Sigorta's determination and strength in achieving its future targets.
In the general liability and motor vehicles sector, Türkiye Sigorta achieved a 97% increase with a gross premium production of 23.7 billion TL. In the motor vehicle liability (traffic insurance) sector, the company produced 12.8 billion TL in premiums, marking a 9% increase. In motor vehicles, gross premiums reached 10.2 billion TL with a 43% growth, while the general liability sector saw an increase of 111%, reaching 2.1 billion TL. The company also recorded increases of 166% in transportation, 233% in financial losses, and 74% in credit insurance. With this performance, the company stated it will continue to strengthen its leadership in the sector and contribute to the national economy.
Current status of TURSG shares:
TURSG has consistently maintained an upward trend over the past month, currently trading around 15 TL with a 3.5% increase this week. The stock saw nearly a 20% value increase in December, although it experienced a sharp correction during the long-term upward trend in the July-September period. The performance of TURSG for the year 2024 reflects a 69% value increase on the charts.