SEDDK updates DASK fund investment and expenditure regulations

DASK SEDDK insurance regulation disaster fund investment principles

The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has introduced new regulations regarding the working principles of the Natural Disaster Insurance Institution (DASK). The changes, published in the Official Gazette, aim to restructure how DASK funds are managed and invested.

Under the new rules, the technical operator must report to SEDDK four times a year—in January, April, July, and October—regarding expenditures that exceed five times a specified amount. Investment strategies for the DASK fund will prioritize asset diversification, liquidity, low principal risk, and high returns, with specific procedures to be determined by the Board of Directors.

The regulation also allows for the creation of long-term portfolios (maturities exceeding one year) if the fund's total exceeds twice the annual storage share plus significant liabilities such as outstanding claims and reinsurance payments. Management of the fund is permitted through the technical operator or portfolio management companies that are subsidiaries of public-owned banks authorized by the Capital Markets Board (SPK). To ensure oversight, the technical operator is required to submit monthly reports on investment distribution and performance to the Board of Directors.

Entities

Capital Markets Board · Insurance and Private Pension Regulation and Supervision Agency · Natural Disaster Insurance Institution

Claims

What the coverage asserts, and how many sources carry each claim.

[● 4 SOURCES] The DASK fund may be managed by the technical operator or portfolio management companies that are subsidiaries of public-owned banks authorized by the Capital Markets Board (SPK). www.tv5.com.tr · www.dunya.com · www.sabah.com.tr · www.sondakika.com
[● 4 SOURCES] SEDDK has issued a regulation amending the working principles of the Natural Disaster Insurance Institution (DASK). www.tv5.com.tr · www.dunya.com · www.sabah.com.tr · www.sondakika.com
[● 4 SOURCES] Portfolios with maturities longer than one year can be created if the fund exceeds twice the annual storage share plus significant liabilities like outstanding claims and reinsurance. www.tv5.com.tr · www.dunya.com · www.sabah.com.tr · www.sondakika.com
[● 4 SOURCES] DASK fund investment principles will be determined by the Board of Directors based on diversification, liquidity, low principal risk, and high returns. www.tv5.com.tr · www.dunya.com · www.sabah.com.tr · www.sondakika.com
[● 4 SOURCES] The technical operator must provide monthly investment distribution and return performance reports to the Board of Directors. www.tv5.com.tr · www.dunya.com · www.sabah.com.tr · www.sondakika.com
[● 4 SOURCES] Reports on expenditures exceeding five times the determined amount must be reported to SEDDK by the technical operator in January, April, July, and October. www.tv5.com.tr · www.dunya.com · www.sabah.com.tr · www.sondakika.com