On 4 January 2023, Turkey’s Insurance and Private Pension Regulation and Supervision Agency (IPRSA) published Circular no. 2023/2 on Dividend Distributions in Insurance, Reinsurance and Pension Companies, which aims to increase the liquidities and strengthen the financial structure of sector players in order to anticipate potential needs.
With Circular no. 2021/25 dated 26 November 2021, the IPRSA had already imposed a requirement that dividend distributions by insurance, reinsurance and pension companies to be made in 2022 (on the basis of 2021 financial statements) should not result in the company’s capital adequacy level falling below 135%.
The new Circular not only imposes the same limitation on dividend distributions, but also goes one step further by providing that the approval of the IPRSA must in any event be obtained for an insurance, reinsurance or pension company to distribute dividends.
It remains to be seen how this new approval process will be implemented in practice, and whether the IPRSA will maintain these restrictions in subsequent years.
Share
Related persons
You can contact us for detailed information.


Legal Information
This briefing is for information purposes; it is not legal advice. If you have questions, please call us. All rights reserved.
You May Be Interested In
6 July 2026
Legal developments regarding herbal medicinal products, foods for special medical purposes and medical devices
The Regulation on Aromatherapeutic Products and the Regulation on Medicinal Herbal Teas, together with the amendments to the Regulation on…
6 July 2026
“Made in EU” and Türkiye what the net-zero industry act means for business
In March 2026, the European Commission published a draft of the Net-Zero Industry Act, a legislative proposal that carries significant…
29 June 2026
A new era of specialised courts for challenges against Turkish regulatory authorities’ decisions
A significant reform has been introduced regarding the judicial review of decisions issued by regulatory authorities in Türkiye.
23 June 2026
Turkish courts and artificial intelligence — Part I: Istanbul commercial court expressly discloses use of AI in drafting reasoned judgment
The case arose from a consultancy agreement concluded in 2015 between a Netherlands-domiciled consultancy firm and an Istanbul-based…
16 June 2026
Turkish lock-up undertakings in public offerings
Various mechanisms are employed in public offering processes to establish investor confidence and preserve the stability of share prices.
4 June 2026
Recent tax developments: presidential decree No. 11257 and law No. 7582
A significant package of tax measures has recently taken shape in Türkiye. Presidential Decree No. 11257, published in the Official Gazette…
