Turkish P&I was established to meet liability insurance requirements of Turkish maritime interests which arise under Insurance Law no. 5684, enacted on 31.12.2013. A major purpose of this law is to establish a framework which legally compels Turkish interests to carry liability insurance for risks which are deemed mandatory to be insured under Turkish Laws & Regulations.
Laws and regulations enacted in Turkey in the last few years made it compulsory for majority of maritime interests in Turkey to carry P&I insurance, thus Turkish P&I was brought into existence to assist shipowners in having easier access to P&I insurances, which is deemed a speciality marine insurance product.
In respect of Regulation on the Establishment and Operation Principles of Insurance and Reinsurance Companies; our company applied for license from Turkish Prime Ministry Undersecretariat of Treasury General Directorate of Insurance and received the operating license on 18.02.2014.
Turk P&I Insurance Company is located in Istanbul. Board of Directors consists of 13 members. It is made up of 2 Board members representing A Group shareholder, 2 Board members representing B Group shareholder, 2 Board members representing C Group shareholder, 5 Board members representing D Group shareholder, 1 Board member representing Ministry of Transportation, Maritime Affairs and Communication and General Manager.
Our company's premiums are provided by Insurance Brokers authorized by Turkish Prime Ministry Undersecretariat of Treasury.
|Common Name || Share Group || Nominal Capital Amount (TRY) || Share Amount |
| Ziraat Sigorta A.Ş. ||A ||1.375.000 ||1.375.000 |
| Güneş Sigorta A.Ş. ||B ||1.375.000 ||1.375.000 |
| Türkiye Halk Bankası A.Ş. ||C ||1.375.000 ||1.375.000 |
| Omur Denizcilik A.Ş. ||D ||3.031.875 ||3.031.875 |
| Metropole Denizcilik ve Ticaret Ltd. Şti. ||D ||618.750 ||618.750 |
| Vitsan Denizcilik A.Ş. ||D ||474.375 ||474.375 |
|TOTAL || ||8.250.000 ||8.250.000 |