SEDDK Regulatory Updates on AcnTÜRK and Arex Sigorta

0

BEĞENDİM

ABONE OL

News

0

SEDDK Implements Regulatory Measures on AcnTÜRK and Arex Sigorta

The Insurance and Private Pension Regulatory and Supervisory Authority (SEDDK) has announced crucial regulatory measures affecting two key players in the insurance industry: AcnTÜRK Insurance and Arex Sigorta.

In a press release dated April 10, SEDDK highlighted significant actions taken due to management issues and non-compliance with insurance legislation. These actions aim to enhance the sector’s reliability and protect the rights of policyholders.

AcnTÜRK Insurance: Owing to poor management, operations that contravened existing insurance laws, and financial instability, AcnTÜRK Insurance has had its authorization to initiate and renew insurance contracts in all branches revoked. This suspension will remain in effect until the company meets the necessary capital adequacy requirements.

Arex Sigorta: Similarly, Arex Sigorta faced regulatory actions for its mismanagement and non-compliance with both insurance and financial legislation. Its license for the surety branch has been revoked, and the authorization to conduct and renew new insurance contracts in all other branches has been suspended until it fulfills essential conditions.

SEDDK is committed to maintaining a vigilant oversight of the industry, ensuring the sector operates in a stable, reliable, and efficient manner, thus safeguarding the rights and interests of the insured. The public is hereby informed of these measures.