A Socıal Securıty Instıtutıon Establıshed in the Last Ottoman Perıod: The Unıon Natıonal Insurance Company
The activities of insurance firms increased in various cities, especially Istanbul, in the last quarter of the 19th century. The first insurance company centered in Istanbul was founded in 1892. The number of companies that was established in Turkey increased in the early 20th century. Insurance companies could not preserve themselves from the negative political and economic effects of WWI. In this period, the İttihat (unionist) movement tried out new economic models. Several stock companies that prioritized the Muslim element were established. It was aimed to control foreign companies by making legal arrangements. Again, in this period, several insurance companies with the word “milli” (national) in their titles emerged. The Union National Ottoman Insurance Company, which is the topic of our research, was established in the year 1918 with the initiative of the French company Union de Paris. The founders of the company were the former governor of Aleppo, Celal Bey, and the deputy of Kastamonu, Şükrü Bey. According to the bylaw that was approved, the headquarters of the company was Istanbul. The types of insurance that it was allowed to take part in were fire, accident, theft and life insurances. The company which was established in the late Ottoman period continued its activities also after the declaration of the Republic. With the regulation that was made in the year 1924, the term “Ottoman” in its title was removed and replaced with the term “Turkish”. It continued its operations in insurance with the name The Union National Turkish Insurance company. Another change took place in 1966, and the word “İmtaş” was added to the company’s title. After the year 1996, İmtaş continued its operation by merging with Nordstern Insurance. This study investigated the historical process of the company in question and revealed the administrative and financial structure of it based on bylaw standards.
Insurance Companies, Last Ottoman Period, The Union National Insurance Company