A Cabinet session, headed by Prime Minister Bisher Khasawneh, approved the 2024 Mandatory Vehicle Insurance Bylaw on 21 July 2024.
The Financial Regulatory Authority (FRA) has decided to continue to work with existing regulations until the issuance of implementing rules and decisions backing the new Unified Insurance Law that was enacted earlier this month.
MAPFRE Sigorta reported a much improved financial performance in 2023, with a net income of TRY72m ($2.18m) [2022: a loss of TRY401m], noted Fitch Ratings.