Turkey: Ministry establishes state-owned reinsurer
Source: Middle East Insurance Review | Nov 2019
The Turkish Ministry of Treasury & Finance has established Turk Reasurans (Turk Re) to support the local insurance sector. The ministry is the reinsurer’s only shareholder.
Turk Re was launched to meet capacity requirements of the local insurance sector and promote healthy and sustainable growth in the insurance sector under the country’s economic programme unveiled in September last year, reported Anadolu Agency. Turk Re aims to ensure that reinsurance premiums are retained in the country.
In a statement, Turk Re said it will also undertake the management of the natural disaster risk pool, and is expected to provide domestic reinsurance capacity to the pool by creating a cost advantage.
Ms Selva Eren has been appointed the general manager of the reinsurer. M