Atlas Mutuel Sigorta

What Atlas Mutuel Sigorta does

Atlas Mutuel Sigorta (legal entity: S.S. Atlas Sigorta Kooperatifi) is a 100% domestically-owned Turkish insurance cooperative founded in 2015 and headquartered in İzmir (Konak). It underwrites a broad non-life insurance portfolio spanning motor (individual, commercial, and rent-a-car kasko), property (residential and commercial fire packages), engineering (Contractors All Risks, Erection All Risks, machinery breakdown, electronic equipment), cargo and carrier liability, personal accident (individual, group, seat, mandatory seat), mandatory earthquake (DASK), travel health (Schengen-compliant up to €30,000), and surety bond insurance for public tenders. The company is the only fully domestically capitalized insurance cooperative in Turkey and is the sole insurer authorized to issue guarantee letters (kefalet senetleri) under this cooperative structure following the 2017 amendment to Public Procurement Law Article 4734.

Distribution is built on a nationwide agency (acente) network, supplemented by a call center (0850 222 444 0), an online quick-quote platform (Hızlı Teklif), an agent portal, and five regional directorates in İstanbul, Ankara, Adana, Antalya, and Bursa. Revenue is generated through insurance premiums collected at policy inception and renewal across the product portfolio, with reinsurance capacity supplied by a diversified 12-counterparty panel led by Milli Re, Mapfre Re, and Türk Re, alongside GIC Re, MS Amlin, Africa Re, Lloyd's Hamilton Syndicate, and several MENA reinsurers. Core technology consists of standard policy administration and claims processing systems with contracted repair, mini-repair, and auto-glass service networks supporting claims handling. The company is governed by a Board led by Chairman Ahmet Bababalım and Vice Chairman/General Manager Murat Polat, and in 2026 announced plans to convert from a cooperative (Kooperatif) to a joint-stock company (Anonim Şirket/A.Ş.) structure.

Name

Atlas Mutuel Sigorta

Legal name

S.S. Atlas Sigorta Kooperatifi

Website

https://atlasmutuel.com.tr

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Atlas Mutuel Sigorta is a 100% domestically-owned Turkish insurance cooperative (founded 2015, İzmir) underwriting motor, property, engineering, personal accident, cargo, DASK, travel, and surety bond insurance, distributed through a nationwide agency network and five regional offices.

Ownership category

akta.pro rank

Headquarters

HQ city

Konak

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums: Atlas Mutuel generates revenue through insurance premiums collected from policyholders across various insurance lines including motor (kasko), property (yangın), engineering, personal accident (ferdi kaza), and specialty insurance products. Premiums are collected at policy inception and renewals, providing recurring revenue streams.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Atlas Mutuel Sigorta (S.S. Atlas Sigorta Kooperatifi) is a 100% domestic Turkish capital insurance cooperative headquartered in İzmir that underwrites and distributes a full portfolio of non-life insurance products. Its offering spans motor (individual, commercial, and rent-a-car kasko), property (residential and commercial fire packages, DASK mandatory earthquake), transport (cargo goods, carrier liability), engineering (Contractors All Risks, Erection All Risks, machinery breakdown, electronic equipment), personal accident (individual, group, seat, mandatory seat), travel health, and surety bond insurance for public tenders. Policies are priced, sold, and serviced through a nationwide network of independent agents, regional directorates, a call center, and an online quick-quote system, with risk carried alongside a panel of international reinsurers.

Product overview

Atlas Mutuel Sigorta is a %100 domestically-owned Turkish insurance cooperative (S.S. Atlas Sigorta Kooperatifi) headquartered in Izmir, offering a comprehensive portfolio of insurance products under a cooperative business model. The product portfolio spans vehicle insurance (Individual Comprehensive, Commercial Comprehensive, Rent-a-Car Comprehensive), property insurance (Residential Package Fire, Business Package Fire), transport insurance (Cargo, Carrier Liability), engineering insurance (Contractors All Risks, Erection All Risks, Machinery Breakdown, Electronic Equipment), personal accident insurance (Individual, Group, Seat/Mandatory Seat), mandatory earthquake (DASK), travel health insurance, and guarantee bond insurance. The company distributes through a nationwide network of agents and regional offices in Izmir, Istanbul, Ankara, Adana, Antalya, and Bursa, with reinsurance support from Milli Re, Mapfre Re, MS Amlin, Africa Re, GIC of India, Hamilton Syndicate Re, and Türk Re. Optional add-on services include Mini Repair and Substitute Vehicle programs through contracted service provider networks.

Differentiator

Problem solved

Functional benefit

Segments2 records

Ideal customer profiles2 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Milli RecoreOthersLeading Turkish reinsurance company providing core reinsurance support to Atlas Mutuel Sigorta for risk management and capacity backing across all insurance lines.
• Mapfre RecoreOthersGlobal reinsurance provider from Spain offering international reinsurance capacity and expertise to support Atlas Mutuel's insurance operations.
• GIC Re (General Insurance Corporation of India)minorOthersIndian state-owned reinsurer providing international reinsurance capacity and risk diversification for Atlas Mutuel's portfolio.
• MS AmlinminorOthersInternational reinsurance group providing specialized reinsurance support and underwriting expertise.
• Africa ReminorOthersAfrican Reinsurance Corporation providing reinsurance capacity and supporting African market expertise.
• Türk RecoreOthersTurkish reinsurance company providing local market support and reinsurance capacity for domestic insurance operations.
• Lloyds- Hamilton SyndicateminorOthersLloyd's of London syndicate providing access to specialist insurance and reinsurance markets through the Hamilton syndicate.
• SCR MAROCminorOthersMoroccan reinsurance company providing regional reinsurance support for North African risk exposure.
• Az ReminorOthersInternational reinsurance company providing additional capacity and risk diversification.
• Arab ReminorOthersArab Reinsurance Company providing regional reinsurance support for Middle East and North Africa exposures.
• Tunis ReminorOthersTunisian reinsurance company providing regional capacity and risk management support.
• CCR AlgeriaminorOthersAlgerian reinsurance company providing regional coverage and reinsurance support for Algerian market risks.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• AXA Sigorta: Turkish subsidiary of AXA Group, offering motor, property, health, and life insurance through agency and bancassurance channels. Comparable multi-line P&C competitor with stronger global backing.
• Sompo Sigorta: Japanese-owned (Sompo International) Turkish P&C insurer offering motor, property, engineering, and specialty lines through agency distribution. Comparable multi-line competitor operating in the same regulatory environment.
• Allianz Sigorta: Turkish subsidiary of global Allianz Group, one of the largest P&C insurers in Turkey offering motor, property, health, and personal insurance products. Comparable as a multi-line P&C competitor with significantly broader geographic and capital reach.

Direct peers

• HDI Sigorta: Turkish P&C insurer (subsidiary of German HDI Group), offering motor, property, engineering, and liability products through agency network. Direct comparable as a foreign-backed multi-line P&C insurer in Turkey.
• Türkiye Sigorta: State-owned Turkish P&C and life insurance carrier formed from merger of state insurers, offering broad multi-line coverage including motor, property, and engineering. Direct competitor in the Turkish P&C market with significantly larger scale.
• Magdeburger Sigorta: Smaller German-backed Turkish P&C insurer focused on motor, property, and engineering lines. Comparable as a niche multi-line P&C competitor with similar scale profile.
• Anadolu Sigorta: One of Turkey's largest and oldest P&C insurance carriers (founded 1925), offering multi-line motor, property, engineering, and accident coverage through agency and direct channels. Directly comparable as a Turkish multi-line P&C insurer competing in the same product categories and customer segments.
• Doğa Sigorta: Smaller Turkish P&C insurer offering multi-line coverage including motor, property, and accident. Comparable as a similar-scale multi-line P&C competitor in the Turkish market.

Emerging players

• Quick Sigorta: Digital-first Turkish P&C insurer focusing on motor and personal lines via online channels. Comparable as a Turkish P&C peer with overlapping motor and personal accident lines, contrasting on distribution strategy.
• Neova Sigorta: Technology-focused Turkish P&C insurer emphasizing digital distribution and streamlined underwriting. Comparable as a Turkish P&C insurer with overlap on motor and property, but differentiated by digital-first model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/atlasmutuel

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Atlas Mutuel Sigorta