Page 11 - Turkinsurance Digital Magazine

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Türk Reasürans Is 5 Years Old!

Founded in 2019 with the aim of increasing domestic established the Turkish Participation Reinsurance Company
reinsurance capacity in Turkey and ensuring resource in September 2021 to provide reinsurance capacity in this
efficiency, Türk Reasürans celebrates its 5th anniversary area with a visionary perspective before the establishment
with pride today, fully financed by the Ministry of Treasury of participation insurance companies.
and Finance of the Republic of Turkey.
In December 2022, Türk Reasürans founded a tech park
In the past five years, Türk Reasürans has successfully company named T-Rupt Technology to offer technical
positioned itself as a “reliable exporter of security” not and technological innovations to the sector in the fields of
only in Turkey but also on the international stage. insurance, reinsurance, and catastrophic modeling. The
catastrophic modeling product CATMOD, developed within
With its goals of contributing to the technological T-Rupt, is one of the few solutions in the world and the first
infrastructure, skilled human resources, corporate of its kind in Turkey. CATMOD differentiates itself from
structure, and financial strength of the Turkish insurance other models with damage susceptibility functions tailored
sector, Türk Reasürans continues to add new achievements to the conventional construction practices in our country.
to its successes every day, drawing strength from its stable It also provides financial loss modeling services to the
growth and vision that guides the industry. With each step insurance sector in the face of disasters.
it takes, Türk Reasürans raises the bar for success in the
Turkish insurance sector. The Success Journey of DASK

Impressive Performance and Growth Türk Reasürans increased the payment capacity of the
Natural Disaster Insurance Institution (DASK), for which
Selva Eren, General Manager of Türk Reasürans, began it took on technical management in 2020, from 25 billion
her remarks by saying, “The success of the Türk Reasürans TL to 280 billion TL.
family is a result of our collective effort, belief, and
unwavering commitment to our common goals.” She While the total compensation paid throughout the 24-
continued: “We have increased our original equity of 600 year history of DASK was 40 billion TL, following the
million TL to 4.3 billion TL in our 5th year, raising our earthquakes in Kahramanmaraş on February 6, Türk
total assets to 23.6 billion TL. At its establishment, Türk Reasürans managed DASK to deliver payments amounting
Reasürans provided coverage to 16 insurance companies and to 37.7 billion TL to policyholders in a record time of 6
3 institutions in the country, and now it provides security months, thanks to effective process management. Since
to 29 insurance companies and 5 institutions. We are also Türk Reasürans took over the technical management of
proud to be exporting security to 57 different countries DASK, the technological infrastructure has been renewed
across 5 continents.” and business processes optimized, enabling seamless and
efficient service delivery to citizens.
In the first half of 2024, Türk Reasürans produced
consolidated gross premiums of 8.3 billion TL and net To expand the coverage provided to citizens, the project to
premiums exceeding 7.1 billion TL. The total gross transform the Compulsory Earthquake Insurance into the
compensation paid has been recorded at over 10.1 billion Compulsory Disaster Insurance (ZAS) has been completed.
TL since the establishment of Türk Reasürans. As of the
first quarter of 2024, Türk Reasürans increased its market Special Solutions for Special Risks
share in the Turkish reinsurance market to 57%.
Through the Special Risks Management Center, which Türk
By the end of the first half of 2024, the company’s net profit Reasürans has taken on technical management, coverage
for the period reached 1.4 billion TL, and its current ratio has been provided for risks that cannot find insurance or
rose to 2.1. Compared to the same period of the previous reinsurance coverage, have unique characteristics, and are
year, Türk Reasürans successfully increased its net profit of public interest, thereby creating high added value for
by 96%. The company achieved a technical profitability of the country’s economy. The Special Risks Management
31% and a return on equity of 33%. Center (ÖRYM) also manages State-Supported Receivables
Insurance, Mandatory Personal Accident Insurance for
Affiliates and Innovative Approaches Mine Workers, and Medical Malpractice Liability Insurance
Pools. Playing a key role in resolving the coverage issues
Türk Reasürans adds value to the sector through its arising from the Russia-Ukraine crisis, ÖRYM successfully
subsidiaries, which it has established with 100% its own continues its mission to provide coverage in the fields of
capital, in line with its operational areas and purposes of all-risk aviation, commodity transportation insurance
existence. (agricultural), commodity transportation insurance (other
commodities), and hull war
Considering the importance attributed to participation insurance in alignment with the
insurance within the financial system, Türk Reasürans interests of our country.