New regulation on internal systems of insurance companies in Turkey

regulationOn 25 November 2021, the Turkish supervisory authority published a new regulation on internal systems in the insurance and private pension sectors. The new law came into force directly after its issuance in the Official Gazette.

The texts establish the functions of internal control, risk management, actuarial, internal audit and the staff qualifications in charge of the internal control systems of an insurance company.

This initiative aims to strengthen the institutional structures of private insurance and pensions.

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