SEDDK Cancels Aksu Sigorta's Conformity Certificate

The SEDDK Board decided, under its decision dated 22 May 2024 and numbered 652, to cancel the conformity certificate of Aksu Sigorta Aracılık Hizmetleri Ltd. Şti., registered on the Register (Levha) under number T08613-88H3.

According to the decision published on the regulator's official site, the cancellation was made under Articles 1 and 32 of Insurance Law No. 5684 and Article 24 of the Insurance Agencies Regulation. The decision summary did not give details of the reason for the cancellation.

What is a conformity certificate for?

Real and legal persons wishing to act as an insurance agency in Türkiye must obtain a conformity certificate documenting that they meet the conditions set out in legislation and be registered on the Register (Levha) held by TOBB (Türkiye's union of chambers and commodity exchanges). The Register entry is the publicly accessible record of an agency's authority to operate; policyholders can check whether an agency is authorised through this record.

Cancellation of the conformity certificate is one of the most severe administrative consequences, removing the agency's authority to continue insurance intermediary activity. Article 24 of the Insurance Agencies Regulation, on which the decision is based, regulates who may not act as an agency and the circumstances for cancelling the certificate and registration; Article 32 of Law No. 5684 contains the obligations of good faith and prudent conduct in the sector.

Why are decisions announced?

SEDDK announces its licensing, activity suspension and cancellation decisions on agencies and brokers on its website. These announcements serve as an official source of information for both policyholders and the insurance companies that need to track the licensing status of the agencies they work with.