The Insurance and Private Pension Regulation and Supervision Agency of Türkiye published a notice setting out supervisory measures against AcnTurk Sigorta AŞ and Arex Sigorta AŞ, citing mismanagement and operations in breach of insurance legislation and other financial rules. For AcnTurk Sigorta, the authority to enter into new insurance contracts and renew existing policies across all lines of business has been removed until capital adequacy conditions are met, with the decision also linked to weaknesses in the firm’s financial position. For Arex Sigorta, the surety (kefalet) line licence has been cancelled and the authority to write and renew business in all other lines has been removed until the required conditions are met.
Insurance and Private Pension Regulation and Supervision Agency of Türkiye 2025-04-10
Insurance and Private Pension Regulation and Supervision Agency of Türkiye bans new and renewal business at AcnTurk Sigorta and revokes Arex Sigorta’s surety licence
Türkiye's Insurance and Private Pension Regulation and Supervision Agency has imposed measures on AcnTurk Sigorta AŞ and Arex Sigorta AŞ for mismanagement and insurance legislation breaches. AcnTurk Sigorta is barred from new contracts and policy renewals until capital adequacy is restored. Arex Sigorta's surety line licence is cancelled, and it cannot write or renew business in other lines until conditions are met.