The Turkish insurance industry is seeing the impact of digital transformation in almost every aspect of insurance functions, from customer relations to preventing insurance fraud, according to Mr Emine Feray Sezgin, vice president of the Insurance and Private Pension Regulation and Supervision Agency (SEDDK).
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) plans to release soon a new set of regulations on participation insurance, also known as takaful.
Over the past 12 months, Milli Reasurans (Milli Re) has significantly improved its shareholder's equity while maintaining its market position and improved operating performance, says S&P Global Ratings (S&P).
The Turkish insurance industry is in its most secure period in terms of capital adequacy, liquidity, risk management and similar indicators, according to Mr Davut Mentes, president of the Insurance and Private Pension Regulation and Supervision Agency (SEDDK).
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has revised regulations affecting lifetime health insurance policy renewals.
Delays and disruptions in the supply chain not only create additional workload for insurance companies and adjusters, but also erode policyholders' trust in the sector, according to the board of directors of the Turkish Insurance Experts Association (TUSED).
The rapid growth in Turkiye's maritime sector has created new needs in cargo insurance, transportation, and liability policies, according to Mr Murat Ciftci, CEO of IBS Insurance and Reinsurance Brokerage.
Türk Reasürans has appointed Mr Özgür Bülent Koç as general manager, according to news platform Sigortaci.
The Turkic World Insurance Union (TWIU) has been officially launched with its first general assembly meeting held in Shusha, the cultural capital of Azerbaijan. The association is founded by Azerbaijan, Turkey, Kazakhstan, Uzbekistan, and Kyrgyzstan.
All insurance companies that offer mandatory motor third-party liability (MTPL) insurance reported losses in the branch in the first half of this year, according to data from the Insurance Association of Turkiye (TSB).