Insurance
Pension and Life
Growing together.
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It is an assurance mechanism that aims to collectively recover losses by considering principles and objectives that also have Islamic references such as social solidarity, cooperation.
Participation insurance is an assurance mechanism that aims to compensate for losses jointly by observing principles and objectives that also have Islamic references such as social solidarity, cooperation, and mutual aid. The Arabic word takaful, meaning “to give mutual guarantees” and “vouch for one another” finds its equivalent in our country as “Participation Insurance.” As the name suggests, the main purpose of Participation Insurance is to ensure solidarity and mutual aid among people included in this insurance.
PARTICIPATION INSURANCE PRINCIPLES OF BEREKET
RETAKAFUL & REINSURANCE/ COINSURANCE PRACTICES
Reinsurance is the sharing of obligations by insurance companies by transferring the risks they undertake with their insurance activities to other companies (reinsurance companies) that will assume these risks in whole or in part. The reinsurance transaction is carried out for reinsurance against the risk that the insurance company will incur too many losses in the same period, negatively impacting the company's capital structure. Per the insurance legislation, insurance companies must transfer their risks above a certain amount through reinsurance agreements. Reinsurance, coinsurance, and retrocession activities must be carried out with companies operating within the framework of participation principles. If the collaboration, products, and services needed for these activities are not available, these activities may be carried out with other companies provided that the approval of the advisory committee is obtained and limited to certain periods and areas.
BEREKET SİGORTA RETAKAFUL & REINSURANCE CONTRACTED COMPANIES
| REINSURER | RATING COMPANY | RATING | ACTIVITY LOCATION |
| Türk Katılım Reasürans A.Ş. | - | - | Türkiye |
| Milli Reasürans T.A.Ş. | S&P | BBB- | Türkiye |
| Azre Reinsurance A.Ş. | A.M. Best | B+ | Azerbaijan |
| Kuwait Re | A.M. Best | A- | Kuwait |
| Labuan Re | A.M. Best | A- | Malaysia |
| Maleysian Re | A.M. Best | A- | Malaysia |
| Saudi Re | S&P | A- | Saudi Arabia |
| Ocean Re | A.M. Best | A- | Lebanon |
| CCR Algeria Re | A.M. Best | B+ | Algeria |
| BMIC Re | A.M. Best | A- | Bahrain |
| Tunis Re | A.M. Best | BB+ | Tunisia |
| Oman Reinsurance Company SA OG | Fitch Rating | B++ | Qatar |
| Korean Re | S&P | A | South Korea |
| Polish Re | A.M. Best | A- | Poland |
| CCR Re | S&P | A- | France |
| Odyssey Re | S&P | A | France |
| Mapfre Re | S&P | A+ | Spain |
| Devk Re | S&P | A+ | Germany |
| Everest Re | S&P | A+ | U.S.A |
BEREKET EMEKLİLİK VE HAYAT A.Ş. RETAKAFUL CONTRACTED COMPANY
| Swiss Re Retakaful | Moody's Rating | AA3 | Switzerland |
Regulation
Please click here for Regulation on Insurance and Personal Pension Activities within the Scope of Participation Principles.
Communiqué
Please click here for the Communiqué on Participation-Based Insurance and Personal Pension Activities.
Prof. Dr. Servet Bayındır
Advisory Committee Chair
He was born in 1965 in Erzurum. He graduated from Marmara University Faculty of Theology and Anadolu University Faculty of Economics. He completed his master's degree at Marmara University Institute of Social Sciences, Department of Islamic Law in 1995, his doctorate in 2004 and became an associate professor in 2008.
In 2010, he completed his second master's degree with the Certificate of Islamic Finance (CIFP) program at the INCEIF Institute in Malaysia.
In 2014, he received the title of Professor.
He established the Department of Islamic Economics and Finance at Istanbul University and served as the Head of the Department for three years.
In 2018, he was appointed as a member of the Presidential Economic Policy Council.
In 2019, he founded the Islamic Economics Research Foundation.
He speaks Arabic and English.
Prof. Dr. Abdurrahman Yazıcı
Advisory Committee Deputy Chair
He was born in 1982 in Sivas. He graduated from Istanbul University Faculty of Theology and Anadolu University Faculty of Economics.
He completed his master's degree in 2005 and his doctorate in 2011 in the Department of Islamic Law at Istanbul University Institute of Social Sciences, and he received the title of Associate Professor in 2018 and Professor in 2023.
He spent a year at the Arabic Language Institute in Damascus and Georg-August Göttingen University in Germany for language development and research.
He was the head of the Department of Islamic Economics and Finance at Ankara Social Sciences University. He was the director of the International Islamic Economics and Finance Application and Research Center.
He was a researcher at the General Assembly of Islamic Banks and Financial Institutions (CIBAFI) in 2015-2018. He holds the AAOIFI Fiqh Consultancy certificate.
He is a member of the board of trustees and advisory committee of the Islamic Economics Research Foundation.
He speaks Arabic, English and German.
Dr. Yahya Şenol
Advisory Committee Member
He was born in 1980 in Istanbul. He graduated from Istanbul University Faculty of Theology. He completed his master's degree at Istanbul University Institute of Social Sciences, Department of Islamic Law in 2007 and his doctorate in 2013.
In 2022, he completed the Advisory Committee Sector Training Program organized by SEGEM and received a certificate.
He is a member of the board of trustees and advisory committee of the Islamic Economics Research Foundation. He is the coordinator of the Fetva.net website.
He gives seminars on Principles of Islamic Worship, Islamic Law and Current Fiqh Problems within the Süleymaniye Foundation Distance Seminar Center (SUSEM).
He speaks Arabic and English.
