In Turkey the first insurance transactions were started mainly by foreign insurance companies decided to establish a professional organization among themselves. Later the insurance companies felt the need of being organized among themselves as a “profession organiztion” and the first respective organization was formed on the 12^th July 1900 with name of “The Syndicate of Fire Insurance Companies Operating in Istanbul” by 44 foreign companies at the TEUTONIA Hall in Beyoglu. The Provisional Law Regarding the oreign Insurance Companies” was approved on the 13^th December 1914. This Syndicate was turned into “The Society of Insurance Companies Operating in turkey” in 1916 which had 81 members of all of them being foreign companies.

 Following the establishment of the Turkish republic in 1923, this Society was abolished and “The Club of Insurers” was set up on the 11^th March 1924 which later in the year 1925 was replaced by “The Central Offices of Insurers”. This expression was for the first time used in a document of the Ministry of Commerce dated 21^st December 1926. “Law No.1149 regarding the Inspection and Supervision of Inurance Companies” was put into force on the 31^st July 1927. Later, Law No.3392 regardig the amendments of some articles of Law No.1149 and the inclusion of new articles was approved and put into force on the 28^th May 1938.

In 1950 new draft-law was prepared in respect of the supervision of insurance companies at the meeting of “Insurance Council” which came together in Ankara and the subject of insurance profession organization was put on the agenda. This draft-law was then sent to the “Central  Office of Insurers” in order to take their views; however regardiğng this draft-law there occured disagreement among the members of this Office and the insurance companies; Genel, Güven, Halk, Ankara and Inan resigned from the membership. In July 1952 Anadolu Sigorta A..S. and Destek Reasürans T.A.S. joined this resigns and theyestablished the “Association of Insurance Companies of Turkey” which had a status of a legal entity. On the 16^th July 1952 the statue of this associatiıon was approved by the Council of Ministers,At a date between 1952 and 1954 the name of the “Central Office of Insurers” was changed to “Society of Turkish Insurers”. In January 1954 the “Association of Insurance Companies of Turkey” was closed down and the regulation of “association of Insurance and Reinsurance Companies of Turkey” was published. On the 22^nd January 1954 the first General Assembly of the “Association of the Insurance and Reinsurance Companies of Turkey” which was formed by the unification of the “Association of the Insurance Companies of Turkey”and the “Society of Turkish Insurers” was carried out. On the 21^st December 1959 “Law No.7397 Regarding the Supervision of Insurance Companies” was accepted and came into force on the 30^th December 1959.

The statue of association of Insurance and Reinsurance Companies of Turkey came into practice on the 10^th June 1976. By the caming into force Law No.3379 regarding the Insurance Supervision on the 11^th June 1987 amending certain articles of the Law No.7397, status of the association turned into a publc institution. Another amendment was that the elections of the Association’s organs should be made under judiciary supervision. Later on the 30^th January 1989 the “Regulation Relating to the Working Principles of the Association of the Insurance and Reinsurance Companies of Turkey” came into force.

All of the insurance and reinsurance companies, local or foreign, operating in Turkey and branch offices of foreign companies in Turkey are obliged to be members of the Association within three months following their being licensed by the Undersecretariat for the Treasury. At the end of 2002 the Association had 61 members, 58 being insurance and 3 reinsurance companies. The head office of the Association is in Istanbul and it has the power to open representative offices anywhere if it deems it necessary.

 As it is stated in the Law, the main purpose of the Association are the followings:

• To ensure the development of the insurance profession,

• To secure solidarity among insurance companies

• To adopt and implement all the necessary measures needed to control unfair competition.