The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has issued a circular to ensure that insurance personnel whose work involves the Turkish Financial Reporting Standard 17 (TFRS 17) have the required knowledge, skills, and competencies.
Participation insurers (takaful operators) in Turkiye generated TRY70.1bn ($1.6bn) in contributions in 2025 in nominal terms, representing a 62.9% increase compared to the previous year, according to data from the Insurance Association of Turkiye (TSB).
The Turkish insurance sector has shifted its focus to domestic and national technology initiatives in its digital transformation journey.
Doga Sigorta, one of the leading companies in the Turkish insurance sector, has entered 2026, fortified by a capital increase of TRY530m ($12.3m) effected in December 2025 in line with its growth targets.
2026 is poised to be a year of significant growth for the insurance sector in terms of risk management, digital transformation, and sustainability, according to the Insurance Association of Turkiye (TSB) President Mr Ugur Gulen, outlining his expectations of the industry for the new year.
Turk Reasurans (Turk Re) has appointed Mr Veli Utku Bay as Deputy General Manager responsible for reinsurance acceptances.
The 1 January property-CAT reinsurance renewal season in Turkiye exhibited trends similar to those observed in Continental European renewals, with risk-adjusted decreases of 15% on average, and a significant oversubscription of capacity, particularly in top layers, said Gallagher Re.
Turkish Insurance Association (TSB) President Ugur Gulen has assessed the insurance sector's performance in 2025 as a success.
Jeddah-headquartered multilateral financial institution, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), has approved insurance coverage of EUR135m ($156.96m) against non-performance of sovereign financial obligations (NHSFO) in support of the Kars-Igdir-Aralik-Dilucu (KIAD) high-standard railway project in Turkiye.
Insurers' creditworthiness in Saudi Arabia, the UAE, South Africa, Turkiye, and Kazakhstan will remain resilient in 2026, S&P Global Ratings (S&P) has forecast.