The Insurance Association of Turkiye (TSB) has held a brainstorming event during which participants set several 10-year goals for the insurance sector.
The Turkish government aims to start the operations of the Supplementary Retirement System (TES), a mandatory scheme, in the last quarter of 2025, according to local media reports.
Italy's global insurer, Generali, has reached an agreement for the sale of its 99.99% stake in Generali Sigorta to several Turkish parties.
Turk P ve I Sigorta (Turk P&I), Turkiye's first protection and indemnity (P&I) insurance provider, implemented an increase in paid-in capital of TRY200m ($5.86m) in September 2024 and expects to restore the regulatory solvency ratio to over 100% by end-2024, says Fitch Ratings.
Turkiye's Compulsory Disaster Insurance scheme (ZAS) is set to be launched officially at the beginning of 2025.
Turk Reasurans (Turk Re) recorded total assets of TRY23.6bn ($696m) as it marked the fifth anniversary of its founding this month, its general manager, Ms Selven Eren, told the local media. The company's equity of an initial paid-in capital of TRY600m ($17.7m) increased to TRY4.3bn over the last five years.
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has published a circular requiring insurance companies to submit the parameters of the earthquake stress tests they plan to conduct.
The number of insured vehicle drivers in Türkiye is expected to decrease as motor insurance premiums increase, according to the "2023 Sector Report" released last week by the Insurance Association of Türkiye (TSB).
The Turkish insurance market has seen a significant increase in total premium production, acceleration in the digitalisation process, and intensified efforts to raise customer satisfaction, according to the "2023 Sector Report" released last week by the Insurance Association of Turkiye (TSB).
Compulsory earthquake insurance should be offered automatically to all homeowners in Turkiye with a sufficient level of coverage, a senior insurance executive has suggested.