Turkey es­tab­lishes cor­po­ra­tion to sup­port in­sur­ance sec­tor

Dünya Executive - - OVERVIEW -

The Turk­ish Trea­sury and Fi­nance Min­istry es­tab­lished Turk Rea­sur­ans A.S. (Turk Re) to sup­port Turk­ish in­sur­ance sec­tor, ac­cord­ing to a press re­lease by the cor­po­ra­tion on Septem­ber 27. Turk Re was launched to help reach eco­nomic re­bal­anc­ing as well as to sup­port healthy and sus­tain­able growth in the in­sur­ance sec­tor un­der the new eco­nomic pro­gram, which was un­veiled in Septem­ber 2018. Turk Re will con­tribute to the in­sur­ance sec­tor’s growth and meet the ca­pac­ity re­quire­ment of do­mes­tic re­as­sur­ance ac­tiv­i­ties in the in­sur­ance mar­ket, said the state­ment. The cor­po­ra­tion will also as­sume risks of nat­u­ral dis­as­ters and gen­er­ate cost ad­van­tage for the sec­tor. The Trea­sury and Fi­nance Min­istry is the sole stock­holder of Turk Re, the state­ment added. Turk Re aims to en­sure that rein­sur­ance pre­mi­ums trans­ferred abroad re­main at home to carry out the nec­es­sary rein­sur­ance ar­range­ments by struc­tur­ing the risk man­age­ment of pub­lic in­ter­ests.

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