Turkiye is actively addressing new avenues to increase inclusivity of the financial ecosystem, including strengthening the takaful regulatory infrastructure and its framework, said the Insurance and Private Pension Regulation and Supervision Authority (SEDDK) Vice President Ali Burak Kurtulan at the opening of the DWIC Connect Istanbul held on 7 July.
Implementation guidelines for insurance experts have been prepared for the latest regulation on mandatory motor third-party liability insurance (also called traffic insurance), according to Mr Ahmet Nedim Erdem, Chairman of the Executive Committee of Insurance Experts of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB).
The Turkish authorities have busted a criminal organisation based in Izmir, which is alleged to have defrauded insurance companies of approximately TRY200m ($4.3m) through fake traffic accidents.
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has implemented the fourth phase of its action plan to make vehicle depreciation claim processes in compulsory motor third-party liability (traffic) insurance faster, fairer, and more transparent.
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has amended a regulation, that among various requirements, mandates insurance companies to provide real-time data.
MAPFRE Sigorta reported higher net income of TRY1,910m ($41.1m) in 2025 (2024: TRY1,560m) driven by a higher investment income as interest rates remained high, while underwriting performance deteriorated slightly with a combined ratio of 107% (2024: 106%), notes Fitch Ratings.
HDI Sigorta has signed a share transfer agreement for the transfer of its wholly-owned takaful subsidiary, HDI Katilim Sigorta, to Aydin Group.
New regulations relating to mandatory motor third-party liability insurance (also known as traffic insurance) are to enter into effect on 1 July, bringing about extensive changes.
An investment fund model similar to the Private Pension System (BES) should be created in the life insurance market in Turkiye, according to the President of the Insurance Association of Turkiye, Mr Ahmet Yasar.
Monopoli Sigorta Aracilik Hizmetleri (Monopoli Sigorta), one of Turkiye's most established insurance brokers, and Acrisure, a leading global insurance and financial services network, have announced a strategic partnership through which Monopoli Sigorta will join Acrisure's international platform.