Court order decision for two insurance companies

It was reported that it was decided to terminate the functions of all current members of the board of directors of the companies Gri Sigorta AŞ and the Mellce Mutual Insurance Cooperative of Limited Liability, appoint new members of the board of directors and leave the management of the companies. insurance portfolios to the Guarantee Account.

In the statement from the Insurance and Private Pensions Regulatory and Supervisory Authority (SEDDK), it was stated that the insurance and private pensions sector is under the constant supervision and control of the Institution and that the sector, which has an international reputation and strong capital structure, has a historical record in level of capital adequacy and return on capital according to the latest financial statements. It was reported to have reached peaks.

‘TO PREVENT THE SECTOR FROM BEING NEGATIVELY AFFECTED…’

The statement included the following statements:

“However, it is necessary to take precautions against Sociedad Anónima de Seguros Gray and Mutualidad de Seguros Mellce de Responsabilidad Limitada, for which our Institution has been implementing gradual measures for some time due to their illegal transactions and poor management, and which have We have not been able to improve their situation despite the reasonable period granted, in order to protect the rights and interests of our policyholders and prevent our sector from being negatively affected.

In this context, in accordance with article 20 of Insurance Law No. 5,684, it has been decided that all current directors of the companies in question will be dismissed, new directors will be appointed and the management of the insurance portfolios will be restructured. “It is left in the Guarantee Account.”

The statement states that the necessary initiatives have been initiated to create compensation plans under the leadership of the Turkish Insurance Association in order to continue insuring those affected by the process and protect their rights. “As mentioned above, our measures in question; “It is limited to the companies concerned, will not affect our sector and aims to put an end to persistent mismanagement and illegal transactions.” Statements were included. (BRITISH MOTOR CLUB )