Turkish government has an objective to be the 10th biggest
economy in the world by 2023, aiming to generate US$2 trillion
worth of gross national product.1 In line with this
objective, the government has the insurance sector, among others,
in its sights. Newly emerging risks, disasters that have been
experienced and the economic climate stand as important motives
when shaping the underlying legislation and insurance tools.
While the New Economic Program2 strives for
"economic balancing" and "healthy and
sustainable growth", Türk Reasürans Anonim
Şirketi ("Turk Re") has been
founded by the Ministry of Treasury and Finance on 6 September
2019as a life line support for Turkish reinsurance market. Turk Re,
with its capital of 600 million liras and the sole shareholder
Ministry of Treasury and Finance, aims to contribute to the New
Economic Program, increase the domestic reinsurance capacity in
Turkey and ensure resource efficiency.3 Ms. Selva Eren,
general manager of
