The Association held its second “Insurance Seminar” at Suruc Vocational School of Harran University on 28 October 2005

Upon the request received from Suruc Vocational School of Harran University, the Association organized a comprehensive insurance seminar with the participation of the vocational school students. This seminar was the second of the Association’s educational seminar series, the first one being held at Sapanca Vocational School, University of Sakarya on 11 May 2005.

In the seminar, presentations were made on “The Structure and Evaluation of the Turkish Insurance Sector”, “Institutions of Turkish Insurance Sector and the Association”, ”European Union and Its Institutions”, “European Single Insurance Market” and ” Financial Services in the EU”.

A special session was also held in celebration of October 29th, the Turkish Republic Day. Within this context, a presentation was made on “Ataturk’s Impact on the Turkish Financial Market”.

Booklets, which enshrined the presentations made during the seminar and relating articles, were published by the Association and distributed to the students.
 

The first issue of the Association’s new journal, "Journal of Insurance Studies" is published

The Association’s new journal, “Journal of Insurance Studies” was published in October in order to contribute to the development of the insurance sector in Turkey.

The new journal aims at providing an academic source for the Turkish insurance sector and researchers and it consists of the works of insurance sector professionals, specialists and academicians. The journal is composed of two parts, the first one being “Articles approved by the Scientific and Advisory Board” and the second one being “Articles not presented to the Scientific and Advisory Board”.

“The Journal of Insurance Studies” will be published twice a year and distributed to member companies and all related institutions.

For the second issue of the journal, the deadline for articles which will be published after the approval of the Scientific and Advisory Board” is January 1, 2006.
 

The Association will organize an International Symposium in cooperation with the World Bank on 8-9 December 2005

The Association will organize a two-day seminar entitled “Global Conference on Insurance and Reinsurance for Natural Catastrophe Risk” in cooperation with the World Bank on 8-9 December 2005.

The international symposium will be held in Istanbul with the participation of leading local and international insurers and reinsurers, insurance regulators, reinsurance brokers, national disaster fund managers, emergency management authorities, and the representatives of the World Bank Group and the Association.

During the Symposium, the participants will compare various models and consider the applicability of catastrophe insurance schemes in their own countries. The countries whose schemes will be discussed in the symposium are China, India, Indonesia, New Zealand and Turkey.

Click here for the details of the Symposium...
 

The Association held its Third Seminar in the Context of a Series of Seminars on "The Primary Problems of the Turkish Insurance Sector throughout Turkey's EU Membership Process" on 31 October 2005

The Association continues to organize seminars concerning “The Primary Problems of the Turkish Insurance Sector throughout Turkey’s EU Membership Process” in which specialists of the discussion topic make presentations to inform the insurance sector representatives on various issues.

The topic of the third meeting was” Taxes and Tax Implications in the Turkish Insurance Sector”.

In the seminar, the representatives of the Ministry of Finance; the Acting Director of Revenue Service Directorate Mr. Mehmet Ceylan, the Acting Director of Revenue Service Directorate Mr. Sadık Demirbaş and Specialist Mr. Atıf Kır made presentations on current issues.

The meeting drew large audiences from the insurance sector.
 

The Association's Project on the use of IFRS in the insurance sector continues

The working group which is established by the Association to provide views and suggestions on Financial Reporting Standards on Insurance, held its fifth meeting on October 3, 2005 and sixth meeting on October 17, 2005.

The standards completed by the working group in these meeting are:

IAS 27 Consolidated and Separate Financial Statements
IAS 28 Investments in Associates
IAS 31 Interests in Joint Ventures
IAS 3 Business Combinations
IAS 19 Employee Benefits
IAS 26 Accounting and Reporting by Retirement Benefit Plans
IAS 2 Share-based Payment

The total number of financial standards is 30 and the working group will complete its tasks on all the standards until the end of November 2005 as planned before.
 

The Association has participated the 12th Annual Conference of the International Association of Insurance Supervisors (IAIS).

The Association has participated the 12th Annual Conference of the International Association of Insurance Supervisors (IAIS), entitled “Solvency, Governance, Market Conduct”, held in Vienna, Austria on 18-21 October 2005, as an observer. Financial reports of insurance companies, international accounting standards, solvency II, reassurance, the protection of policy holders and the financial impacts of natural catastrophes were among the issues discussed during the conference.

The Association was also represented during the IAIS annual general assembly, which is open only to IAIS members and observers. During the general assembly, the annual budget, new memberships and documents prepared by IAIS were voted.