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ARTICLE · 24 APRIL 2020

Insurance & Reinsurance 2020

ESENYEL & PARTNERS Lawyers and Consultants
ESENYEL & PARTNERS Lawyers and Consultants
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ESENYEL & PARTNERS Lawyers and Consultants

ESENYEL & PARTNERS Lawyers and Consultants

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nsurance & Reinsurance Laws and Regulations - Turkey covers common issues in insurance and reinsurance laws and regulations – including regulatory authorities and procedures, (re)insurance claims, ...

TurkeyInsurance
Esenyel Partners
Esenyel Partners
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1. REGULATORY

1.1 Which government bodies/agencies regulate insurance (and reinsurance) companies?

The main governmental body that regulates and supervises the insurance and reinsurance sector is the General Directorate of Insurance acting under the Ministry of Treasury and Finance.

More concretely, the General Directorate of Insurance and the Insurance Supervisory Boards acting under the Ministry are the two main bodies responsible for the regulation and supervision of the insurance and reinsurance sector.

1.2 What are the requirements/procedures for setting up a new insurance (or reinsurance) company?

Insurance and reinsurance companies acting in Turkey should be established as joint stock or cooperative companies.

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