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Fulfilling alone nearly 25% of the industry’s need for reinsurance coverage, Milli Re accepts business on a voluntary basis from the Turkish market since 1991.

Set up by Türkiye İş Bankası (İşbank) to operate the compulsory reinsurance system on February 26, 1929, Milli Reasürans (Milli Re) commenced operations on July 19, 1929.

Milli Re is the only national reinsurer that operates in the Turkish insurance market. The Company participates in reinsurance agreements in almost every branch of domestic and foreign companies operating in the market. This positions Milli Re beyond and above a local reinsurer and clearly displays its international prestige and the trust held in its robust financial structure.

Being a key actor in the formation and the development of the Turkish insurance industry, Milli Re made numerous contributions while operating the compulsory reinsurance system, including:
• Nationalization of the Turkish insurance industry,
• Generation of continuous revenues for the Undersecretariat of Turkish Treasury,
• Significant reduction in the outflow of foreign currencies,
• Execution of training and education programs in insurance business,
• Conducting top-notch international relations.

Milli Re managed the Turkish Reinsurance Pool from 1963 to 1985, and the Economic Cooperation Organization (ECO) Pool from 1975 to 1995, which was originally established under the name RCD Pool. Managing the Federation of Afro-Asian Insurers and Reinsurers (FAIR) Pool since 1974, the Company has also taken on the management of the Turkish Catastrophe Insurance Pool (TCIP), whose formation it spearheaded, from 2000 to 2005.

Combining the experience, confidence and prestige earned as the only active local reinsurance company in the Turkish insurance market with the know-how derived as the manager of the FAIR Pool, Milli Re began writing business extensively from international markets in 2006. Aiming for global expansion and portfolio diversification, the Company built a strong structure that is active also in international reinsurance markets and is resilient to competitive and market conditions.

Maintaining its position as the market leader on the back of its long-standing professional experience, robust financial structure and successful operational performance, Milli Re will continue to offer its reinsurance capacity to local and international markets.

  Singapore Branch    
 
As part of Milli Re’s strategy to penetrate foreign markets, the Company, like many other internationally operating reinsurance companies, examined the benefits of opening regional branches. Accordingly it was decided to open the first branch in Singapore, in view of the relative weight of the Far East in the global insurance market, as well as its potential business volume and geographical location.

Having received the license for operation from the Monetary Authority of Singapore (MAS) in November 2007, the Singapore Branch rapidly pressed ahead with setting up basic infrastructure including the establishment of a data processing system and employment of personnel, and began to write business from April 1, 2008. The Singapore Branch plays an important role in the international portfolio of Milli Re.

   
  Anadolu Sigorta    
  Holding 57.31% share in its capital, Milli Re is the principal shareholder in Anadolu Anonim Türk Sigorta Şirketi, one of the largest and established insurance companies in the Turkish insurance industry.