The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has officially announced a delay in the implementation of recent financial reporting rules affecting insurance, reinsurance, and pension companies. This change, published in today’s Official Gazette, modifies the effective timeline originally set by the regulation of May 13, 2023.
Under the new amendment, several key provisions will not be put into practice until January 1, 2027. Until then, existing reporting standards will continue to be applied by all affected companies. In particular, the amendments to Articles 4 and 5 and the newly added Article 7/A concerning financial reporting will remain on hold.
Continuation of Current Practices
Insurance and reinsurance firms will keep preparing their financial statements based on the pre-amendment framework. This provides institutions with additional time to align their systems and processes with the forthcoming requirements. The decision, according to the authorities, ensures that the industry transitions smoothly without disruption to financial disclosures.
Implementation Timeline
The regulation, although scheduled to become active on January 1, 2026, will undergo a structured transition managed by the SEDDK. During this period, the agency will oversee the adaptation process, issue clarifications when necessary, and support companies in upgrading their reporting mechanisms before the full enforcement date.
