The Insurance and Private Pension Regulation and Supervision Agency of Türkiye rejected allegations against it as unfounded and said it would initiate legal proceedings over claims it described as misleading and damaging to the agency and insurance sector. The statement outlined earlier supervisory interventions, including inspections of losses at unnamed companies and referrals to relevant institutions and judicial authorities. According to the statement, most of the identified losses occurred at the end of September and were detected through supervisory monitoring as they arose. Inspection reports were completed in less than a week and forwarded to the relevant institutions and judicial authorities. A company disclosure on the Public Disclosure Platform dated Oct. 30, 2026, had already informed the public about the agency’s inspections and findings. The companies subsequently reported measures covering investment policies and internal audit in response to the agency’s report and directives. The agency also cited its earlier action to prevent financial institutions involved in adverse capital market developments from entering the insurance sector. It presented those restrictions as having prevented the problems from spreading into insurance or worsening elsewhere.
Türkiye’s Insurance and Private Pension Regulation and Supervision Agency rejects allegations and plans legal action
Türkiye’s Insurance and Private Pension Regulation and Supervision Agency rejected allegations against it and plans legal action over claims it considers misleading. It cited earlier inspections of company losses, with reports completed in less than a week and referred to relevant institutions and judicial authorities. The companies reported corrective measures covering investment policies and internal audit.