Ahmet Yaşar, President of the Insurance Association of Turkey (TSB), said in his speech at the Azerbaijan International Insurance Forum that they aim to further advance cooperation in the Turkic World insurance sector.
Yaşar announced that Turkey will host the 2026 General Assembly of the Turkic World Insurance Union, the foundations of which were laid in Azerbaijan last year.
Topics to be Discussed at the General Assembly
Yaşar noted that the general assembly will address topics such as increasing insurance awareness, reducing the protection gap, developing joint reinsurance capacity, artificial intelligence applications, digital transformation, and strengthening qualified human resources, stating that this will mark the beginning of a new era for the Turkic World.
Emphasizing that insurance is a strategic sector that secures not only the present but also future generations, Yaşar said, "A strong insurance sector that closes the protection gap, grows savings, and increases resilience is an indispensable element of a strong Turkey and a strong Turkic World."
Sector Size Reaches 4.2 Trillion Lira
Yaşar announced that as of the first quarter of 2026, the sector's total assets reached 4.2 trillion lira and its equity reached 459 billion lira, noting that total premium production rose to 622 billion lira by the end of the first five months.
Yaşar said the Turkish insurance sector, which has reached a size of approximately $31 billion, is now one of the world's important markets, adding, "Our priority is to secure more people, businesses, and investments before generating more premiums."
Artificial Intelligence Cannot Replace Trust
Ahmet Yaşar noted that digitalization is transforming insurance, emphasizing that artificial intelligence offers significant advantages in risk analysis, claims management, and customer experience, but the trust factor cannot be replaced by technology.
Yaşar stated, "Trust is built not by algorithms but by strong institutions, sound regulations, ethical principles, and a human-centered approach," and added that the winners of the future will be companies that can combine artificial intelligence with trust, not those that use it the fastest.
3.5 Trillion Lira Mega Fund
Yaşar stated that the insurance sector has become not only a risk underwriter but also a strong investor providing long-term resources to the economy, and announced that the number of participants in the Individual Pension System and Automatic Enrollment System is approaching 18 million.
Yaşar stated that while BES funds have exceeded 2.4 trillion lira, together with other funds managed by insurance companies, the total resources managed by the sector have reached 3.5 trillion lira, saying, "Today, the insurance sector is one of Turkey's largest institutional investors."
