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Arex Sigorta Challenges SEDDK License Cancellation
SEDDK cancelled Arex Sigorta's surety licence on 10 April 2025, and the insurer said it would pursue legal action against the decision.
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SEDDK cancelled Arex Sigorta's licence in the surety line of business on 10 April 2025 and removed the company's authority to issue new policies across all lines. Arex Sigorta described SEDDK's decision as "unlawful and an extrajudicial execution" and announced it would pursue legal action to challenge the ruling.
The developments once again show the importance of regulation and oversight in the insurance sector, while Arex Sigorta's reaction to the decision has also drawn attention.