The document outlines amendments to the regulation concerning the technical provisions of insurance, reinsurance, and pension companies, along with the assets in which these provisions can be invested. Key changes have been made to Article 13 of the existing regulation published in the Official Gazette dated August 7, 2007, under number 26606.
Article 1
The first paragraph of subparagraphs (a) and (ç) of Article 13 has been modified as follows:
– a) The portion of the value of a single piece of land, plot, or building, or closely situated lands, plots, or buildings that could be affected by potential damages, which exceeds 5% of the gross technical provisions.
– ç) For the shares of insurance, reinsurance, and pension companies in affiliated securities, participations, subsidiaries, and joint management enterprises, the part exceeding 30% of the gross technical provisions for BIST 30 index stocks, 20% for BIST 50 index stocks, 10% for BIST 100 index stocks, as well as other stocks (including affiliated securities, participations, subsidiaries, and joint management enterprises) that exceed 5% of the gross technical provisions, and venture capital fund shares exceeding 2% of the gross technical provisions.
Article 2
This regulation will come into effect on March 31, 2025.
Article 3
The enforcement of this regulation will be overseen by the President of the Insurance and Private Pension Regulation and Supervision Authority.
