PANORAMIC – INSURANCE & REINSURANCE Türkiye

This chapter provides a concise overview of the insurance and reinsurance framework in Turkey. It outlines the key regulatory authorities, including the Ministry of Treasury and Finance and the Insurance and Private Pension Regulatory and Supervisory Authority (SEDDK), and summarises the licensing and operational requirements for domestic and foreign insurers.

The text highlights fundamental principles of Turkish insurance law—such as mandatory statutory provisions, the insured’s duty of disclosure, remedies for misrepresentation, subrogation, and the rights of third parties to bring direct claims. These rules generally aim to protect policyholders and ensure market transparency.

A brief overview of dispute resolution is also provided, covering the jurisdiction of Commercial Courts, mandatory mediation, evidence and expert practices, interim measures like preliminary injunctions and precautionary attachments, and multi-tier appeal procedures. Arbitration in insurance disputes and the reasoning requirements for arbitral awards are similarly addressed.

The chapter concludes by identifying current hot topics, most notably the uncertainty surrounding how mandatory provisions of the Turkish Commercial Code apply to reinsurance agreements, a point that continues to generate discussion within the sector.

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