Turkey’s insurance sector projects solid growth through 2026, showing resilience and stability despite ongoing economic challenges.
The Turkish Insurance Association (TSB) has published the results of its Insurance Sector Senior Executive Expectations Survey, offering an in-depth look at the sector’s strategic direction and economic expectations for 2026. Despite persisting macroeconomic challenges, the industry continues to project steady real growth — driven by disciplined pricing, strong technical profitability, and a focus on operational efficiency.
The survey, conducted with the participation of 81 senior executives in late 2025, reveals that most leaders view the current macroeconomic climate as manageable, although interest rates and inflation remain key constraints. Executives note that interest rate developments will play a defining role in pricing and technical profitability within the non-life branch, while inflation continues to influence cost structures and savings values on the life and pension side.
Overall, companies maintain a cautious but confident stance, carefully balancing growth opportunities against economic volatility. Efficiency and sustainable profitability are expected to remain the sector’s guiding priorities.
Approximately 64% of respondents expect real premium growth in 2026. Non-life insurers hold stronger growth expectations, while life and pension institutions adopt a more conservative view. Nearly half of executives anticipate a real increase in net profit, with technical profitability accounting for 70% of expected gains. This solid performance demonstrates the sector’s resilience and disciplined approach to risk management.
Executives identify three main factors shaping financial performance in 2026:
• Investment results and portfolio returns
• Pricing strategy and risk selection
• Regulatory updates and compliance frameworks
The study highlights that companies are prioritizing selective growth strategies, cost optimization, and digital transformation. Life and pension firms emphasize automation and operational efficiency, whereas non-life insurers place greater weight on underwriting accuracy and pricing discipline.
Across the sector, executives foresee that regulatory developments, interest rate movements, inflation, and competition will dominate the 2026 agenda. Meanwhile, sustainability practices, ESG initiatives, embedded insurance, and artificial intelligence applications are gaining increased importance as part of long-term transformation goals.
TSB President Uğur Gülen underlined the sector’s steady progress, noting, “Despite uncertainties, the Turkish insurance industry continues to advance with a robust technical foundation, rising risk awareness, and innovative product diversity. In 2026, efficiency, accurate pricing, and regulatory harmony will remain the cornerstones of sustainable growth.”
To access the full study, visit: https://www.tsb.org.tr/tr/AnasayfaDuyuru/305
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