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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
Nothing's certain except death and taxes
Staggered start to Automatic Enrollment
BES pension funds now as popular an investment as term bank deposits
Takaful insurance trade association formed
Treasury reminds employers of their responsibilities under Automatic Enrollment
Circulatory system disease and cancer the biggest killers in Turkey
Untitled Document population premium waiver Aegon 2012 death 2023 Katılım Hayat ve Emeklilik health Islamic finance Asya Emeklilik
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Search Tag : 2012
Credit card usage up 25% in a year!

As a major product of all bancassurers in Turkey is life insurance linked to a credit card balance, increased usage of credit cards automatically flows through to increased life insurance premium.

The interbank card centre has just published figures that show that between April 2011 and April 2012, both usage of credit cards, debit cards, and withdrawals from ATM machines using these cards rose significantly.

The statistics show that the preferred payment method in the country is credit card – by a clear margin!

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The perception of insurance in Turkey

According to a survey into the perception of insurance in Turkey carried out by IDE Danişmanlık on behalf of the Association of Insurance and Reinsurance companies, we still have a long way to go!


Comparing the results of the 2012 survey with the previous one carried out in 2008, we can be pleased that more people are aware of insurance. But during the intervening four year period there has been no real increase in the percentage of the population who are insured.


Branches such as Personal Pension, life insurance, comprehensive motor insurance, health insurance, mandatory earthquake cover, household, and personal accident scored between 75% and 95% on the awareness scale. But less than half of the participants in the survey had heard of agricultural insurance, travel insurance and third-party liability.


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If you are preparing for actuarial exam 2.2 I have a copy of “Neill” in my cupboard!

The Treasury has published a list of the actuarial exams and the topics to be included in the syllabus for 2012. For each subject, recommended textbooks are given. Sadly a reflection on the development of actuarial training here, most of them are in English (the main exceptions to this are subjects 1.2 (basic economics) and 2.1 (accounting and financial reporting).

Registered users of this site can access a translation of the exam syllabus here.

An “old friend”, the textbook I used for Life Contingencies back in 1988 (probably around the time some of the candidates for the Turkish exam were born) for the Institute of Actuaries’ exams, appears on the list for exam 2.2 (life insurance mathematics). When first designing a year-one course for my masters students at Bahçeşehir University I brought it with me to Turkey, and I have a copy gathering dust in a cupboard.

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Incidence rates for illness and disease

Tables published as part of Turkey’s Health Survey 2012 issued by Turkey Statistical Institute (TÜİK) this month contain information about incidence rates of certain illnesses and diseases, of relevance in pricing for life, disability, critical illness and health products.

The analysis in this article is based on table 4 which covers the percentage of diseases/health problems diagnosed in the over 15 population by a medical doctor. A similar table, table 3, contains data on the incidence rates of the same illnesses and diseases, but based on self-declaration. As expected, rates in table 3 are some 1-3 percentage points above those in table 4.

The number one medical condition listed in the table is hypertension, with a diagnosed incidence rate of 12.8% (8.5% for males and 17.1% for females).

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Obesity, hypertension and related health issues in Turkey

The results of Turkey’s Health Survey 2012 just published by Turkey Statistical Institute (TÜİK) make fascinating reading for actuaries involved in mortality projections and pricing life, critical illness and health products.

The headline figures relate to the BMI and obesity statistics. 17.2% of over 15s in Turkey are classed as obese – with a BMI over 30. 34.8% are counted as overweight (BMI: 25-30), 44.2% as normal (BMI: 18.5-30) and 3.9% as underweight (BMI under 18.5).

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Actuarial exam syllabus for 2012



When defining the principles underlying the actuarial examinations to be set in accordance with the “Actuarial Regulations” that were published in the Official Gazette number 26614, dated 15 August 2007, and which have been in force since 1 January 2008, the generally accepted principles defined in the EU and other countries for the professional quality of actuaries were applied. In line with this, the scope of the examinations has been set with regard to the scope of international examinations.

The scope of the Actuarial Exams for 2012 is set out by subject below. Books shown under “Some Useful Resources” given for each examination are listed in order of their relevance.

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