Governance, Risk and Compliance – The Turkish Insurance Industry

Date: 2015-11

“• The Turkish insurance industry is regulated by the Undersecretariat of Treasury.

• The Turkish insurance industry allows 100% foreign direct investment.

• The life and non-life insurance businesses in Turkey are regulated by the provisions of the Insurance Law 2007.

• The motor third-party liability insurance, liability insurance of a carrier to the passenger of the aircraft, and third-party liability insurance for hazardous activities are compulsory classes of insurance.

• Non-admitted insurance is not permitted in Turkey with a few exceptions.”

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