Turkish insurance regulator warns of crackdown on unauthorized brokerage

Davut Menteş, President of the Insurance and Private Pension Regulation and Supervision Agency (SEDDK), has warned against unauthorized brokerage activities within the Turkish insurance sector. Speaking at the 5th International Insurance Summit in Istanbul, Menteş stated that authorities will implement heavy measures, including halting operations, against entities engaging in unauthorized mediation, illegal system access, and malicious handling of personal data before the end of the year.

Menteş clarified that recent measures taken against certain insurance companies were due to regulatory violations identified during audits and were not related to broader capital market developments. He emphasized that these interventions are temporary and aimed at rectifying non-compliance.

Separately, the Insurance Agents Association (SAB) issued a statement regarding representation within the professional committees of Chambers of Commerce and Industry. The association, represented by President Ayhan Çalık, urged agents to protect their representative power and resist political bargaining or alliances with other industry groups that might compromise the specific interests and decision-making authority of insurance agents.