trending Market Intelligence /marketintelligence/en/news-insights/trending/BjTzjTnkJctte5vqHQO2zA2 content esgSubNav
In This List

Turkey sets up corporation to aid insurance sector

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Turkey sets up corporation to aid insurance sector

The Turkish Treasury and Finance Ministry created Türk Reasürans AS, or Türk Re, to aid Turkey's insurance sector, Anadolu Agency reported.

The corporation is expected to help the Turkish insurance industry achieve healthy and sustainable growth, one of the targets of the country's economic program announced in September 2018.

Türk Re, whose sole stockholder is the ministry, will satisfy the capacity requirement of domestic reassurance activities in the insurance market. It will also assume risks of natural disasters and produce cost advantage for the insurance sector.

The corporation aims to ensure that reinsurance premiums transferred abroad will remain in the country to execute the necessary reinsurance arrangements through the structuring of public interests' risk management.

Selva Eren is the general manager of the corporation.