Insurance Companies Will Not Implement Inflation Accounting in 2025

Forex - Following the banking and finance sector companies, it has been announced that insurance companies will not implement inflation accounting in 2025.
The Circular Regarding the Implementation of Inflation Accounting in the Insurance Sector has been published by the Insurance and Private Pension Regulation and Supervision Authority (SEDDK).
The circular provides the following information:
"In the announcement dated November 23, 2023, regarding the Adjustment of Financial Statements of Companies Subject to Independent Audit for Inflation, published by the Public Oversight, Accounting and Auditing Standards Authority, it is stated that the institutions or organizations authorized to regulate and supervise in their fields may set different transition dates from those anticipated regarding the provisions in TMS 29 or the Financial Reporting Standard for Large and Medium-sized Enterprises. This allows flexibility for the institutions and organizations authorized to regulate and supervise in their fields regarding the implementation of inflation accounting.
In this context, it has been decided that insurance, reinsurance, and pension companies will not implement inflation accounting in 2025.
Circular number 2024/10 regarding the Implementation of Inflation Accounting in the Insurance Sector has been revoked."