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