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On the other hand, the technological

development in Turkey has been unbeliev-

able: The number of mobile phones reached

68 million.

3G subscribers reached to 42 million.

Internet users reached to 50 million.

It took the place near top in the world in

Facebook with 32 million users.

Internet delivery speed increased 10

times and rose from 160 Gigabit/sec to

1.6 Terabit/sec.

The lowest broadband speed has risen up

to 8 Megabit/sec in residential areas.

Turkey has started to produce its own

satellite, its own plane and car.

In the last decade, the annual production of

insurance sector grew �ive times and incre-

ased to USD 11 billion fromUSD 2 billion. Although the share of

1.5 % in the GDP of the insurance sector is very small, the total

amount of risk guaranteed by the insurance sector is USD 24

trillion which is equivalent to 30 years of GDP.

Insurance sector has made a very good start to 2013. In the

�irst half, the sector reached 25% of growth rate. Particularly,

the public contribution and support in BES, DASK and casco

insurance were the success factors behind the growth in

recent period. With the decrease in the number of damages

and accidents, the sector aims at completing a pro�itable year.

Year 2023, the 7th Biggest Economy of the

World; Turkey

How? By moving always further, upward and to the top, always


How? By never losing, never failing.

How? By not suffering from crisis, disasters, big damages.

How? Insurance. Insurance. Insurance.

Yes, the mountain climbers, when climbing to the top, pound

nails to the mountain in regular intervals and tie the rope at

their waists to the hooks in the nails not to fall from where

they are. When they face with an unfavourable situation, when

their hands or feet slide, the nails keep the climbers in their

place. Thus, they can always move forward without falling to

the bottom in their way to the top. Just like the climbers, all

the people in Turkey who aim the top in terms of economy can

pound a nail with insurance and can continue climbing without

falling ever.

People wait for the opportunities

Opportunities wait for the people

People wait, opportunities wait

It is always the excuse who wins


Paulo Coelho


Turkey has used the opportunities very well

in the last decade and excuse didn’t win in


Each step, required to be taken with great

courage, has been taken, one by one.

Industrialists, white collars, entrepreneurs,

exporters, investors, companies and busi-

ness men across all sectors have bene�ited

from the stable policy environment and

stability in Turkey and caught up with the

stable growth. In contrast to the economic

crisis in many countries in the world, the companies in Turkey

has grown incredibly by 10 to 100 times.

All the stigma, failures and loss of the past have been cleared

one by one.

The Treasury has paid, including principal and interest amound,

USD 5 billion to victims of İmar Bank and nearly USD 75

billion to the depositors of other banks which went bankrupt.

Nearly USD 5 billion which was accumulated in Mandatory

Savings Account (TTH) years ago has been paid to their owners.

In early 2005, six zeros have been removed from Turkish Lira

(TRY) and TRY started its honourable increase. The value of

TRY against world currencies has increased. Public banks,

which used to write-of huge losses a decade ago, improved, by

announcing record rates of pro�it, that they are the mainstay

of Turkish economy and the biggest scaffolding for a powerful


Turkey has achieved and experienced big successes in the last


The Gross Domestic Product (GDP) has increased by four

times and increased to USD 800 billion from USD 200 billion.

Income per capita has increased by three times and increased

to USD 10.500 from USD 3.500.

“Real growth” of Turkey has been realized as 5.3% on

average annually.

Turkey grew more than 100% in real terms.

Public debt to gross national product ratio regressed to 40%.

Foreign direct investment has reached to USD 140 billion.

The debt to IMF has been paid off.

Year 2023,

Turkey is

at the top

with Insurance!


Managing Director