The insurance sector comes together to support Türkiye’s resilience ahead of COP31
The 5th International Insurance Summit, organized by the Insurance Association of Türkiye (TSB), took place at the Istanbul Financial Center under the theme “From Risk to Resilience: Insurance on the Road to COP31.” SEDDK Chairman Davut Menteş shared initiatives aimed at strengthening the sector’s financial resilience and protecting policyholders’ rights, while TSB President Ahmet Yaşar emphasized the importance of reducing Türkiye’s protection gap, strengthening public confidence, and safeguarding citizens’ rights during claims processes. The summit addressed the role of insurance in managing climate risks and resilience financing.
Held during the 15th Insurance Week, the 5th International Insurance Summit brought together public authorities, representatives of the insurance and pension sectors, international guests, and academics on October 8, 2026, at the Ziraat Bank Auditorium within the Istanbul Financial Center. With opening remarks delivered by Ahmet İhsan Erdem, General Manager of the Istanbul Financial Center (IFM); Ahmet Yaşar, President of the Insurance Association of Türkiye (TSB); and Davut Menteş, Chairman of the Insurance and Private Pension Regulation and Supervision Authority (SEDDK), the summit addressed the future of the sector and Türkiye’s financial preparedness against climate risks.
SEDDK Chairman Menteş: “We are committed to a structure that strengthens the sector’s financial resilience and protects participants’ rights”
In his speech, SEDDK Chairman Davut Menteş highlighted the improvement in the sector’s financial resilience, indicating that “The capital adequacy ratio for the 10 companies with the lowest ratios—which stood at 34.3% in 2022—reached 106% as of June 2026. For the rest of the sector, the ratio stands at 209.6%. “Along with the decline in the production-to-capital ratio, these indicators demonstrate the improvement in the sector’s capital structure,” he noted.
Emphasizing the importance of effective oversight in the pension system, Menteş provided the following information regarding the Fund Monitoring Platform: “Through the platform developed by the Pension Monitoring Center (EGM), we continuously monitor the transactions, portfolios, and valuations of pension investment funds and identify risks at an early stage. In this way, we prioritize protecting participants’ rights and the integrity of the system through data-driven, risk-focused controls.”
Touching on regulatory efforts as well, Menteş said, “Combating traffic accident fraud, the Alo 193 Joint Claims Reporting Center (OHIM), assistance companies, private health and surety insurance, and claims processing via e-Government are among the initiatives we have completed. We have also conducted studies on topics such as participatory insurance, integrated insurance products, capital adequacy, and mandatory disaster insurance. The agenda for the coming period includes state-supported commercial credit insurance, BES regulations, regulations on auto and non-auto claims, revisions to general terms and conditions, agricultural insurance, and long-term care insurance.”
Emphasizing that they aim at making state-supported commercial credit insurance more accessible and effective, Menteş continued: “Complex procedures and lengthy claims payment periods are limiting the development of this product. In our solution plan, we are working to simplify and accelerate the risk assessment and claims payment processes.”
TSB President Yaşar: “Growing the insurance sector means growing Türkiye’s economic security and resilience”
In his speech, TSB President Ahmet Yaşar emphasized that the insurance sector must evolve beyond being merely a sector that pays out after a loss to become a structure that anticipates, measures, and mitigates risk in advance. Highlighting Insurance Week’s message, “Four Elements. One Guarantee,” Yaşar stated, “Growing the insurance sector means growing Türkiye’s economic security and resilience.”
Noting that premium production reached approximately 972 billion liras in the first eight months of 2026, while the funds contributed to the economy by the insurance and pension sectors totaled 3.6 trillion liras, Yaşar stated that their primary goal is to reduce Türkiye’s protection gap. He explained that the goal of 50 billion dollars in premium production by 2030 means providing security for more people, businesses, and economic value. Indicating that the sector’s priorities align with the Medium-Term Program’s (OVP) goals of economic security and resilience, Yaşar stressed the need to reduce risks through safe structures, quality urban transformation, fire safety, and risk engineering.
Referring to recent developments involving certain companies, Yaşar noted that it is important to correctly understand that these issues do not pertain to the companies’ management, financial structure, or insurance operations. Calling for reliance on official statements from the relevant authorities, Yaşar stressed the need to avoid interpreting these statements beyond their intended scope. “The collective reputation of our sector and the trust of our citizens are our shared responsibility,” he said.
Yaşar stated that they support the SEDDK’s efforts to standardize claims processes, ensuring that citizens can quickly reach the appropriate party and receive the compensation to which they are entitled. He emphasized that the fight against entities seeking to make unauthorized and unjust gains through claims is a struggle to protect citizens’ rights. Noting that applications to the Insurance Arbitration Commission in September 2026 decreased by 17.36% compared to the same month last year, Yaşar said, “Our goal is not fewer claims; it is fewer disputes, faster resolutions, and ensuring our citizens can directly access their rights.” He stated that they fully support SEDDK’s approach to strengthening financial soundness and market discipline.
Noting that the BES, with its fund size approaching 2.7 trillion liras, is significant for citizens’ futures and the country’s long-term savings capacity, Yaşar emphasized that protecting participants’ savings and rights is a top priority. Highlighting the BES’s role as a safe haven for savings, he stated that they support measures that strengthen oversight, transparency, and accurate information.
Viewing COP31, which Türkiye will host, as an opportunity to bring the sector’s risk knowledge and practical experience to the international agenda for solutions, Yaşar explained that they plan to establish an “Insurance House” in Antalya to bring together insurers, reinsurers, public authorities, investors, development finance institutions, the real sector, and academia. Yaşar conveyed the message: “The insurance sector is ready to take responsibility for managing climate risks and safeguarding transition investments.”
The Istanbul Financial Center Hosted an International Gathering of the Insurance Sector
Ahmet İhsan Erdem, General Manager of the Istanbul Financial Center (IFM), also attended the summit’s opening ceremony. Hosted by the Istanbul Financial Center, the event brought together representatives of the insurance sector from Türkiye and around the world, contributing to the agenda of developing regional and international collaborations within the sector.
Climate Risks and Resilience Financing Discussed in Panel Sessions
Following the opening remarks, Prof. Levent Kurnaz, a faculty member at Boğaziçi University and a climate scientist, delivered a presentation. The program continued with the panel called “The Role of the Insurance Sector in Türkiye’s Climate Action Agenda Ahead of COP31,” moderated by TSB Secretary-General Özgür Obalı.
In the afternoon session, nature and environment program producer and activist Güven İslamoğlu addressed the participants. This was followed by the panel called “Closing the Global Climate Action Gap: Insurance and Resilience Financing,” moderated by Neslihan Neciboğlu, General Manager of Neova Sigorta, where international experiences and financial solutions were discussed. The summit concluded with the awards ceremony of the 5th Insurance Essay Contest, which supports knowledge sharing between the sector and academia.
