Page 44 - TURKRptMar21 2

8.1.9 Other sector news
8.2 Major corporate news 8.2.1 Automotive corporate news
The premium generation of Turkey’s insurance industry stood at TRY82.6bn in 2020, up 19.3% from 2019.
In the non-life segment, premium generation grew nearly 18% y/y to TRY68bn while in the life insurance segment it grew 27% y/y to TRY14.4bn.
Market Share
Jan-21
Dec-20
Dogus Otomotiv (DOASO)
19%
12%
PSA Turkey
15%
12%
Renault
14%
19%
Tofas (TOASO)
12%
19%
Ford Otosan (FROTO)
10%
14%
8.2.2 Transport corporate news
Turkish Airlines saw a 62% decline in the number of passengers it served in 2020 to 28mn.
It carried only 13.8mn domestic passengers in 2020, marking a 55% drop. The number of international travellers plunged 68% to 14.1mn.
The Istanbul airport operator, IGA Havalimani İsletmesi, is required to pay an annual fee of €1.1bn under a 25-year lease contract on the airport. However, the company is guaranteed compensation until traffic reaches break- even.
The government may consider deducting the value of the guarantee from the rental fee at the airport, the main base of Turkish Airlines, and offer a discount
44 TURKEY Country Report March 2021 www.intellinews.com