With the aim of improving financial insurance and surety business...
Arti Reinsurance Incorp. (ex-Halk Reinsurance) was established in 1980 and has played a strong role in the country’s non-life insurance market until its shares changed hands in 2006 as a result of the founder holding's sectoral exit strategy.
Arti Re has been cleared from all past responsibilities to work only on surety and financial insurance. Arti Re currently improves its equity capital in order to implement the business plan that will develop the surety market in Turkey and abroad.
Arti Re team is able to perform all technical studies and coordination in the field of surety and financial insurances. In this context, the team provides the following services to solution partner re/insurance companies and surety customers:
-Analysis of contractor’s financial statements, business plan and the risks of contracts between owner, contractor, JV, lender.
-Reporting of contractual risks and then periodical progress reporting to all interested parties.
-Underwriting works of requested bonds comprehensively.
-Wording of facility agreements and bonds due to the project risks.
-Placement from re/insurance companies, banks and/or other financial companies according to the status of the parties and the contract.
-Coordination of issuing the bonds for the project.
-Management of assets given as collateral.
-Communication with the contractor throughout the year.
-Inspection by periodic site visits to prepare status report showing how the company has achieved its objectives.
Since 1991 / Served to > 600 Projects / Total Contract Value > USD 34B / Total Bond Value > USD 9.5B
For more information on surety, please visit the web-site managed by us:
(NEW! Added our comments on general conditions of surety insurance)