Türk Reasürans

What Türk Reasürans does

Türk Reasürans A.Ş. is Turkey's state-owned domestic reinsurance company, founded on 6 September 2019 under Law No. 7161 (amending Insurance Law No. 5684) and wholly owned by the Ministry of Treasury and Finance of the Republic of Türkiye. The company provides treaty and facultative reinsurance capacity across Fire, Engineering, Marine, Liability, Personal Accident, and Natural Catastrophe lines to domestic insurance companies, brokers, and government entities. Türk Reasürans also serves as technical operator for two state-mandated insurance pools—DASK (Doğal Afet Sigortaları Kurumu/Natural Disaster Insurance Institution) for mandatory earthquake insurance and ÖRYM (Özel Riskler Yönetim Merkezi/Special Risks Management Center) for risks that cannot find commercial coverage including trade credit, mining workers' compensation, and medical malpractice pools.

The company operates two core reinsurance products (treaty and facultative) supplemented by proprietary technology platforms developed through its wholly-owned technopark subsidiary T-Rupt Teknoloji (established December 2022). The flagship technology product is CATMOD (Katastrofik Modelleme Platformu), a Turkey-specific catastrophic risk modeling platform using local building inventory and seismic conditions to provide financial loss calculations for major earthquakes—described as one of only three such solutions globally. A second platform, ARP (Alacak Risk Platformu), digitalizes commercial receivable insurance risk management. Türk Reasürans also operates Türk Katılım Reasürans (established September 2021), a wholly-owned subsidiary providing participation-based (takaful) reinsurance for Islamic finance-compliant insurers.

Revenue is generated primarily through treaty and facultative reinsurance premiums, with additional technical management fees from operating state insurance pools. Pricing is determined through individualized underwriting based on risk characteristics, coverage scope, and market conditions. The company employs an enterprise field sales motion, distributing exclusively through direct B2B relationships with insurance companies, brokers, and government entities—no retail or consumer channels exist. As of 2024, Türk Reasürans held approximately 62% market share on a net premium basis in Turkey's domestic reinsurance market, with 17.1 billion TL in gross written premium production, 3.1 billion TL in net profit, and 6 billion TL in equity. By year-end 2025, these figures had grown to 23.1 billion TL in gross written premium, 28.3 billion TL in total assets, and 10.1 billion TL in equity. The company expanded reinsurance coverage to 36 countries (57 countries by H1 2024 across 5 continents), serving 29 domestic insurance companies, 5 institutions, and 21 foreign insurance and reinsurance companies.

Name

Türk Reasürans

Legal name

Türk Reasürans Anonim Şirketi

Website

https://turkreasurans.com.tr

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

101–250 employees

Short description

Türk Reasürans is Turkey's state-owned domestic reinsurer providing treaty and facultative reinsurance capacity to insurance companies, brokers, and government pools across 36+ countries, with 62% domestic market share and proprietary CATMOD earthquake modeling technology.

Ownership category

akta.pro rank

Product category

Reinsurance Services

NAICS

Insurance and Employee Benefit Funds (5251), Finance and Insurance (52)

SIC

Fire, Marine & Casualty Insurance (6331), Surety Insurance (6351)

akta.pro primary industry

Natural Catastrophe Reinsurance (NatCat) (FSAOACAD)

akta.pro secondary industries

Catastrophe Treaty Reinsurance (FSAOAEAE), Casualty Treaty Reinsurance (FSAOAEAD), Health & Accident Treaty Reinsurance (FSAOAEAB), Specialty Catastrophe Reinsurance (Marine, Aviation, Energy, Cyber) (FSAOACAC), Retakaful (Life & Health) (FSAIANAM), Credit & Surety Treaty Reinsurance (FSAOAEAI)

Keywords

• Treaty reinsurance services
• Facultative reinsurance coverage
• Catastrophe risk modeling
• Reinsurance capacity provision
• State pool management

Headquarters

HQ city

Istanbul

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Treaty Reinsurance Premiums: Türk Reasürans generates revenue through treaty reinsurance arrangements where policies belonging to specific risk groups are automatically ceded to the reinsurer. This provides sustainable, long-term premium income across Fire, Engineering, Marine, Liability, and Personal Accident lines.
2. Facultative Reinsurance Premiums: Revenue from risk-specific facultative reinsurance placements evaluated individually on a risk-by-risk basis. Provides flexible, customized solutions for non-standard or complex risks in Property, Engineering, Liability, and Natural Catastrophic perils.
3. Technical Management Fees: Revenue from managing government pools including DASK (Natural Disaster Insurance Institution) and Özel Riskler Yönetim Merkezi (Special Risks Management Center) as the technical operator.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Türk Reasürans is a domestic reinsurance company providing treaty (long-term, automatic, portfolio-based) and facultative (risk-by-risk, customized) reinsurance capacity to insurance companies, brokers, and government entities across Fire, Engineering, Marine, Liability, Personal Accident, and Natural Catastrophe lines of business. The company also serves as the technical operator for state-mandated insurance pools, including the DASK earthquake insurance scheme and the Special Risks Management Center (ÖRYM), and develops proprietary catastrophe modeling and digital insurance risk management platforms through its technology subsidiary.

Product overview

Türk Reasürans operates as a domestic reinsurance company offering two core reinsurance products: Treaty Reinsurance (automatic, long-term coverage for Fire, Engineering, Marine, Liability, and Catastrophe lines) and Facultative Reinsurance (risk-by-risk customized coverage for complex or large risks). The company has expanded into technology products including CATMOD, a domestically developed catastrophic modeling platform for earthquake risk calculations using Turkey-specific building inventory data, and ARP (Alacak Risk Platformu), a digital platform for commercial receivables insurance risk management. These technology products complement the core reinsurance offerings and are developed through the subsidiary T-Rupt Teknoloji.

Differentiator

Problem solved

Functional benefit

Brands

• CATMOD: Catastrophic Modeling Platform developed by T-Rupt Teknoloji, Turkey's first domestically-developed catastrophic risk modeling software tailored to local construction conventions and earthquake vulnerability.
• T-Rupt
• ARP (Alacak Risk Platformu)

Quantifiable outcome

• Increased domestic reinsurance capacity from 16 insurance companies at founding to 29 companies and 5 institutions by 2024
• +8 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core.

• Yıldız Technical UniversitycoreStrategic or Co-development Partner · 7 June 2022Educational partnership establishing a fully-funded Master's program in Business Administration with Reinsurance specialization. 30 students receive full scholarships. Program includes reinsurance courses taught by Türk Reasürans executives and industry professionals. Aims to develop future managers and entrepreneurs for the insurance sector.
• T-Rupt Teknoloji (T-Rupt Technology)coreStrategic or Co-development Partner100% owned subsidiary established December 2022 as a technopark company. Develops technology solutions for insurance, reinsurance, and catastrophic modeling. Created CATMOD (Catastrophic Modeling Platform) - Turkey's first and one of only three such solutions globally. Also developed ARU reinsurance software solution.
• Türk Katılım Reasürans (Türk Katılım Reinsurance)coreStrategic or Co-development Partner100% owned subsidiary established September 2021 to provide participation-based (takaful/interest-free) reinsurance capacity for participation insurance companies domestically and internationally.
• Doğal Afet Sigortaları Kurumu (DASK - Natural Disaster Insurance Institution)coreStrategic or Co-development PartnerTürk Reasürans serves as technical operator of DASK since August 8, 2020. DASK provides mandatory earthquake insurance for Turkish homeowners. Türk Reasürans increased DASK's payment capacity from 25 billion TL to 355 billion TL and transformed its technological infrastructure.
• Özel Riskler Yönetim Merkezi (ÖRYM - Special Risks Management Center)coreStrategic or Co-development PartnerTürk Reasürans serves as technical operator of ÖRYM which manages pools for risks that cannot find insurance or reinsurance coverage in the market. Manages State-Supported Trade Credit Insurance, Mining Workers Compulsory Personal Accident Insurance, and Medical Malpractice Liability Insurance pools. Played key role during Russia-Ukraine crisis in providing coverage for aviation, cargo, and war risks.

Scale indicators18 records

Recent moves10 records

Expansion highlights6 records

Regional players

• African Reinsurance Corporation (Africa Re): Multinational African reinsurer with state-backed shareholder structure. Comparable as a state-affiliated regional reinsurer building domestic capacity against global incumbents and competing for cross-border treaty business.
• Korean Reinsurance Company: Korean state-influenced reinsurer operating in Asia. Comparable as a state-affiliated national reinsurer expanding internationally with proprietary NatCat capabilities.
• General Insurance Corporation of India (GIC Re): Indian state-owned reinsurer with comparable mandate structure and emerging-market focus. Analogous in its role as national champion in a high-catastrophe-exposure geography and offers a benchmark for state-backed reinsurer economics.
• Arab Reinsurance Group (ARIG): Regional Arab reinsurer historically providing capacity into MENA markets. Comparable as a regional reinsurance pool that Türk Reasürans may displace or partner with as it expands into MENA and Turkish-investor geographies.

Broad incumbents

• SCOR SE: French global reinsurer with strong NatCat and life & health franchises. Competes for treaty and facultative placements in EMEA and offers retrocession capacity that affects Türk Reasürans' own reinsurance program.
• Swiss Re: Global reinsurance leader with significant Turkish and NatCat exposure. Competes directly for treaty and large facultative placements and operates proprietary NatCat modeling capability (compares to CATMOD).
• Munich Re: The world's largest reinsurer, historically the largest foreign capacity provider into Türkiye before Türk Reasürans' scale-up. Provides comparable treaty and facultative reinsurance across NatCat, casualty, and specialty lines globally.
• Hannover Re: Major global reinsurer active in Turkish and EMEA treaty markets. Provides comparable property, casualty, and specialty reinsurance capacity and competes for the same cedant relationships.

Emerging players

• CCRIF SPC: Caribbean parametric catastrophe risk insurance facility. Comparable as a specialty NatCat risk-pooling/insurance mechanism with public-sector backing — analogous in concept to the DASK/ÖRYM pools Türk Reasürans operates.

Direct peers

• Milli Reasürans T.A.Ş. Turkey's incumbent domestic reinsurer, historically the principal alternative to Türk Reasürans for cedants seeking local capacity. Operates treaty and facultative reinsurance across similar lines (fire, marine, casualty) and is the most direct head-to-head competitor in the Turkish market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@turkreasurans

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Türk Reasürans