Untitled Document
Tourism crisis and coup attempt hit unemployment
Government's plans for our sector in 2017
Demir Hayat now owned by EMF New Europe Insurance Fund
Government rethinking their plans for mandatory private pensions
Translation of Sectoral Announcement no 2007/21
Translation of Chain-Ladder Method Circular
Translation of General Conditions for Loan Insurance
There's no such thing as a free lunch or a free assistance rider!
Rent protection
Translation of Amendment to Life Regulations
Untitled Document population premium waiver Aegon 2012 death Katılım Hayat ve Emeklilik 2023 health Islamic finance Asya Emeklilik
Untitled Document
Untitled Document
Search Tag : population
Old at 65?

Last month, as part of Turkey’s “Respect for the Elderly Week”, the State’s Turkey Statistical Institute published a news bulletin containing a number of interesting tables of information relating to the structure, education level, marital status, and income levels of Turkey’s elderly population. These statistics are of interest to any insurance company offering insurance products to seniors, in particular they are relevant to the debate about annuity products.

 In 2012, the percentage of Turkey’s population aged over 65 was 7.5%. This is astonishingly low when compared with the European average of 17.5% in 2011. The UK’s figure in 2011 was 16.7%. In Japan, one of the world’s most elderly populations, some 23% of the population were over 65.

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Turkey's rate of population increase slowed in 2011

Population statistics for 2011 show that the Turkish population increased by 13.5 per mille in 2011, reaching 74.7 million people. 

This is lower than 2010, when the population increased by 15.9 per mille, and 2009 when the population increase was 14.5 per mille. 

Turkey used to count population in periodic censuses. Now, with the computerisation of population records, it can be calculated annually. Every citizen is required to register with their local population office, and notify them of a change of address, and the offices are connected to a major database. Mining of this database in 2011 showed that in 2011 76.8% of Turkey's population lived in urban areas, with 23.2% in the countryside. 

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New statistics no surprise to actuaries!

The Turkish Statistics Institute (Turk-Sat) has just started to issue annual statistics concerning deaths in Turkey. None of the headline figures will come as any surprise to actuaries, although newspapers are busy reporting them. The really interesting information will be in the details, which soon will be on their website. The publication covers death figures, broken down into sex, age and region.

According to the report, 367,971 people died in Turkey in 2009.

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Population of Turkey increased by 1 million in 2013

Turkey’s population according to official figures grew by 1,040,450 people during 2013, reaching 76,667,864 at the end of the year.

The rate of increase in population also increased, from 1.2 per mille in 2012 to 1.37 per mille in 2013.

Of interest to insurance companies, focusing on potential customers, are figures relating to the population of working age. The population aged between 15 and 64 increased by 1.64 per mille to 51,926,356. This is some 840,000 people more than at the end of the previous year.

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A falling birth-rate in Turkey

Turkey’s birth rate is higher than that in most European countries, but the birth-rate is gradually falling. In 2012 there were 1,286,828 live births; this figure had fallen by 0.3% to 1,283,062 in 2013. The male/female ratio for babies last year was 51/49.

The rate of total fertility is defined as the average number of children that can be birthed by a woman through her reproductive years of ages 15-49. In 2012 the Turkish Statistical Institute calculated this statistic as 2.09 children. For 2013 this had fallen to 2.07. There were marked differences between the different regions of Turkey, with women in the south-east of the country continuing to have more children.

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