16.04.2026 18:06
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has announced new measures regarding Magdeburger Insurance Inc. to the public. The agency declared that, due to unresolved issues in the company's financial structure, new policy issuance and renewal transactions in all branches have been temporarily suspended.
The Insurance and Private Pension Regulation and Supervision Authority continues to take measures to protect citizens. Measures regarding Magdeburger Insurance, which has been closely monitored for some time, have been announced.
FINANCIAL STRUCTURE COULD NOT BE STRENGTHENED
In its statement, SEDDK noted that Magdeburger Insurance had been under close supervision within the scope of legislation for some time and that gradual measures had been applied during this process. However, it was stated that despite the measures taken, the company could not ensure its capital adequacy. Accordingly, the company's authority to produce new policies and renew existing policies has been suspended until the necessary financial conditions are met.
EXISTING POLICIES ARE GUARANTEED
The institution emphasized that the decision taken will not affect the rights of existing policyholders. The statement announced that necessary measures have been taken for Magdeburger Insurance to fulfill all its obligations, especially claim payments, under the policies it previously issued.
SUPERVISION WILL CONTINUE
SEDDK stated that protecting trust and stability in the insurance sector is a primary goal and noted that supervision and audit activities to protect the rights and interests of policyholders will continue with determination.