Turkey's insurance regulator SEDDK imposes 250 million TL capital requirement for support service firms

The Turkish Insurance and Private Pensions Regulation and Supervision Agency (SEDDK) has issued a new regulation, published in the Official Gazette, that restructures the operating rules for insurance support service providers such as loss adjusters, assistance firms and claims investigators. Under the rule, companies must obtain a licence from SEDDK and meet a minimum paid‑in capital of 250 million Turkish lira, which may be adjusted annually in line with the domestic producer price index. The regulation also requires that the firms be incorporated as joint‑stock companies in Turkey and maintain the necessary technical and administrative infrastructure.

In addition to the capital threshold, the new decree bans certain conflicts of interest: agents, brokers and adjusters may not serve on the boards or act as signatories of support‑service companies, cannot hold partnership stakes or receive payment for work under the same group, and are prohibited from engaging in insurance intermediation activities. SEDDK retains the authority to modify the capital requirement up or down based on the size and nature of the services provided.