The First Assembly of the Turkic World Insurance Union (TWIU), held in the historic Azerbaijani city of Shusha, marked a pivotal step in deepening the financial and economic integration of the Turkic states. What may initially appear as a technical gathering of insurers carried far greater significance, both in terms of institutional development within the financial sector and the wider geopolitical and geo-economic transformation of the Turkic world.

The choice of Shusha as the venue was not accidental. The city, emblematic of resilience and renewal after decades of occupation, provided a symbolic setting for a meeting that itself underscored a new era of unity and strategic ambition among Turkic nations. The signing of a joint “Proclamation Document” formalised the Union’s structure and expanded its scope to include not only the five founding members but also three observer organisations, including Hungary, Turkmenistan, and the Turkish Republic of Northern Cyprus. This inclusivity signals both the Union’s flexibility and its broader appeal as a platform for cooperation.

Moreover, the Turkic World Insurance Union’s reformation under the principles of the Organisation of Turkic States (OTS) demonstrates the consolidation of a shared vision: that economic cooperation must move beyond trade figures and infrastructure projects into the realm of financial and risk management systems. Insurance, often an overlooked pillar of financial development, is in fact crucial for enabling investment, protecting households and businesses, and underpinning sustainable growth.

The stated goals of the Union, such as to promote the exchange of expertise, personnel, and information, to build systematic reinsurance relationships, and to advance the sustainable development of member states’ insurance markets, are not mere platitudes. They point to a concerted effort to professionalise the insurance sector, reduce vulnerabilities, and create regional standards that reflect best global practices while respecting local particularities.

This institutionalisation also mirrors a broader pattern within the OTS: a shift from cultural and political solidarity towards concrete economic structures capable of delivering tangible........

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