On June 3-4, 2024, the Insurance and Private Pensions Regulation and Supervision Agency (SEDDK), the Turkish Insurance Association (TSB), and Maher Holding hosted some of the most prominent figures in Romania's insurance and finance sector, in a visit aiming at extending the regional cooperation in the re/insurance sector.

The meetings commenced at the Turkish Insurance Association, hosted by TSB Chairman Uğur Gülen and Vice Chairman and Maher Holding Insurance Group Chairman Ahmet Yaşar. The discussions then continued at the SEDDK with Deputy Chairman Mehmet Verim hosting the delegation. The visiting Romanian delegation consisted of Alexandru Petrescu, President of the Romanian Financial Supervisory Authority, Sorin Mititelu, Vice President responsible for the Insurance and Reinsurance Sector, and Ufuk Tandoğan, Chairman of the Board of the Romanian Turkish Businessmen Association (TIAD).

During the meetings both sides exchanged presentations and industry information, discussed sectoral collaborations between the two countries, and concluded the session with commemorative plaques presented by Uğur Gülen and Ahmet Yaşar to the guests. The discussions highlighted the efforts towards establishing a regional structure similar to Lloyds to enhance the region's reinsurance capacity, with an invitation extended to Romania to participate in this initiative. The Romanian delegation noted the presence of many Turkish companies in Romania, especially in construction, and invited Turkish insurance companies to invest in Romania. Following the exchange of ideas, it was decided to create a joint platform.

During the visit, SEDDK Deputy Chairman Mehmet Verim stated that Turkey currently produces USD 20 billion in insurance premiums, indicating a potential of reaching USD 80 billion. Verim expressed confidence in Turkey's ability to overcome the current challenges, highlighting the country's rapid growth, young population, skilled workforce, and strategic location as a hub for finance and production from Europe to Far Asia. He reaffirmed their commitment to establishing a system similar to Lloyds in Turkey, not only for Turkey but also for the Balkans, Turkic Republics, the Gulf, the MENA region, and Central Asia. Public representatives and companies will be invited to join this initiative, which has received positive feedback from the delegations and international companies involved. Verim also noted Turkey's advanced technological infrastructure in banking and insurance, citing institutions like SBM, DASK, Tarsim, and NGOs as models in the insurance sector.

"The insurance sector in Turkey is rapidly developing, and collaborations with Romania will significantly benefit the industry. I believe strong partnerships can be established in insurance, reinsurance, and finance between the two countries. As Maher Holding Insurance Group, which centers on the financial market ecosystem, we will closely follow these developments. Working with Romania, especially to strengthen the insurance sector through digital transformation and innovative products, is a great opportunity for us. This visit marks an important step towards mutual benefit by sharing sectoral experiences. I believe such collaborations will continue to increase in the future and yield positive results for both countries," said Ahmet Yaşar, Maher Holding Insurance Group Chairman and TSB Vice Chairman, emphasizing the strategic importance of the meetings.