May 2026
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Largest Insurance Carriers Public Companies in Turkey
Benchmark revenue and EBITDA valuation multiples for public comps like
Türkiye Sigorta, Anadolu Sigorta, Anadolu Hayat Emeklilik, AgeSA and Ray Sigorta.
 | Turkiye Sigorta AS is an insurance provider in Turkey. The company operates in non-life insurance branches consisting of automotive and non-automotive accident, fire, marine, engineering, health, agriculture, liability, financial losses, loan, and legal protection. Its operating business segments are: Fire Insurance, Motor Vehicles Insurance, Motor Vehicles (Land) Liability Insurance, Health Insurance, and Others. | $0 | +52% | $3B | $3B | 0.9x | — | ||
| Anadolu Anonim Turk Sigorta Sirketi is Turkish insurance company. The company offers health insurance, fire and natural disaster insurance and motor vehicle insurance. Insurance provided for fire and natural disasters covers material damages occurred due to fire, lightening, explosion or smoke, steam, and temperature resulted from fire, lightning, and explosion up to insurance policy limits. Motor vehicle insurance covers accident with the motorized or non-motorized vehicles which used in highways, crash with fixed or moving items, theft or attempted theft and burn. Health insurance covers treatment costs of illnesses or accidental injuries during the period of insurance. The company operates its business solely in Turkey. Most of the company's revenue consists of premium received. | $1 | +23% | $1B | $480M | 0.4x | — | ||
| Anadolu Hayat Emeklilik AS is engaged in the provision of insurance services in Turkey. The activities of the company involve providing individual and group insurance and reinsurance services relating to group life, individual life, retirement and related personal accident branches, establishing retirement funds, developing internal rules and regulations related to these funds. It also engages in portfolio management, custody contracts and establishes retirement funds. | $2 | +32% | $992M | $849M | 1.0x | — | ||
| Agesa Hayat Ve Emeklilik AS is a diversified insurance company that provides private pension and life insurance services to customers in Turkey. The company operates various distribution channels including direct advisor sales, sales from the bank branch representatives, agents, and telemarketing. AvivaSA reports through four segments, including Pension, Life Protection, Life Savings, and Personal Accident. The company generates key revenue through its Life Protection segment. | $5 | +58% | $913M | $675M | 0.7x | — | ||
| Ray Sigorta AS is a Turkey-based insurance company. It offers motor, household and health insurances. The motor insurance covers accidents such as the collision of the car with other motor or no-motor vehicles used on the road or railroad. Its household insurance secures house and goods against many risks such as fire, robbery, earthquake, and floods. The health insurance product consists of emergency health insurance, complementary health insurance, health insurance for foreigners and travel health insurance. Additionally, it also provides contracted health institutions and contracted auto services. | $4 | -20% | $661M | $148M | 0.2x | — | ||
| Aksigorta AS is a Turkey-based general insurance company. The main operations of the company include insurance activities based on non-life insurance branches, including fire, marine, personal accident, engineering, agriculture and health insurance coverage policies. It also offers its services online through its Aksigorta Service Centre. | $0 | +20% | $254M | $67M | 0.1x | — | ||
| Median | $1 | +27% | $952M | $577M | 0.5x | — |
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