THE INSURANCE SECTOR AS A KEY COMPONENT OF ECONOMIC STABILITY

As the global economy reshapes itself amid geopolitical tensions, the climate crisis, digital transformation, and increasing uncertainty, the concept of risk is also taking on a much more systemic nature. In this new order, the insurance sector is not merely an area that compensates for damages; it is emerging as a fundamental infrastructure that strengthens economic and social resilience. I see insurance as one of the invisible but most critical components of economic stability. Without a robust insurance system, sustainable investment, production, and long-term savings are not possible.

The 2025 performance clearly demonstrated the sector’s capacity to manage this transformation. Premium production exceeded 1.2 trillion TL, while total assets reached $ 82 billion. The number of participants, approaching 18 million including BES and OKS, and the fund size exceeding 2.2 trillion TL further strengthened the position of the insurance and pension system in the financial architecture. Growth approaching approximately 50% created a solid springboard for 2026.

view 2026 not only as a year of growth, but as a multi-dimensional transformation process. Increased risk awareness, business scaling, digitalization, and new regulations in the healthcare sector will both expand the volume of the industry and deepen its coverage. Demand for fire, earthquake, health, and business continuity insurance will increase, while recovery will accelerate in the agriculture, engineering, and transportation sectors. Increased capacity in the reinsurance markets will make pricing more predictable.

During this period, healthcare inflation, medical technology costs, climate-related risks, undervaluation, and low insurance coverage rates are among the issues that require careful management. Increased collection risks for commercial receivables are also on the industry agenda. However, the healthier functioning of global reinsurance markets creates a positive environment for risk management.

1.2 trillion TL by the end of 2025, will reach 2 trillion TL in 2026. This growth will be supported by the expansion of access in the individual segment, new products for electric and autonomous vehicles, regulations in the traffic branch, and momentum in participation insurance. In life insurance, we see investment fund products coming to the fore. These products strengthen savings discipline while bringing insurance to a wider audience.

The level achieved by the Private Pension System (BES) in terms of savings is extremely valuable. With 10 million voluntary BES participants and a total of 18 million people covered by the system, it clearly demonstrates Türkiye’s long-term financing potential. With the introduction of the Supplementary Pension System in 2026, we expect over 20 million people to join the system and the fund size to reach 10% of GDP. The Supplementary Pension System will be one of the strongest levers for long-term savings.

Private health insurance has also passed an important milestone. The New Health Insurance Regulation, which came into force on January 1, 2026, strengthened the environment of trust, which is the sector’s most fundamental need. This customer- focused framework offers a structure that strengthens lifetime renewal guarantees, standardizes company transitions, and reduces uncertainties. Today, private health insurance is becoming not just a financing tool, but a quality standard that generates social benefits.

Our goal for the coming period is to increase Türkiye’s insurance penetration rate from 2.8% to 5% by 2030. We are focusing on raising risk awareness, developing more inclusive products, and programs targeting young people and SMEs. Microinsurance, parametric products, and green insurance models will be important tools in this transformation.

Our 2030 vision anticipates premium production reaching $50 billion, the BES fund size increasing to 5 trillion TL, and the insurance penetration rate rising to 5%. This vision aims not only to grow the sector but also to strengthen Türkiye’s economic and social resilience.