According to the information compiled from the data submitted to the Planning and Budget Commission of the Grand National Assembly of Turkey by the Insurance and Private Pensions Regulatory and Supervision Authority (SEDDK), the insurance and private pensions sector continued its real growth this year.
By the end of the year, premium production in this sector is expected to reach 1.3 trillion lira, total assets 3.5 trillion lira, and equity size 500 billion lira. The sector provides insurance coverage to more than 40 million insured people with more than 100 million policies.
In October, the number of participants in the Private Pension System (BES) reached about 18 million and the fund size reached about 2 trillion lira. To date, 400,000 citizens have withdrawn from the system.
Studies are being carried out to introduce new products in agricultural insurance.
As part of the state-sponsored agricultural insurance, around 35 billion lira were paid to insured persons in compensation this year, especially for damage caused by agricultural frost. We are working together with the relevant ministries and stakeholders to introduce new products and expand insurance coverage in agricultural insurance.
Efforts are also underway to expand the scope of mandatory earthquake insurance, which is currently limited to earthquake insurance. ZES studies, which cover not only earthquakes but also flooding or flooding in the form of floods, landslides, storms, hail, avalanches and forest fires, are in their final stages.
Remedial measures are being implemented for government-sponsored commercial receivables insurance
Government-backed business credit insurance practices are also expanding. In order for SMEs to benefit more from the system and contribute to their financial structure and competitiveness, it is planned to implement a series of remedial measures in 2026, such as the warranty period, the tariff and instruction structure, and the viability of their use as collateral in the banking system.
SEDDK will also bring into force a new regulation in private health insurance. With the new regulation, which will come into force on January 1, 2026, the authority aims to provide a more effective and predictable insurance structure in many areas such as the lifetime renewal guarantee, the waiting period and the transition between companies.
Bir yanıt yazın