Reinsurance News

Turkey earthquake

TCIP made claims payments within 24 hours of quake, notified reinsurers: Türk Reasürans CEO

14th February 2023

Selva Eren, CEO of Türk Reasürans AŞ, which carries out the technical operations of the Turkish Catastrophe Insurance Pool (TCIP), has disclosed that claims payments were made within 24 hours of the devastating earthquake that recently struck the country. On February 6, 2023, an earthquake with a magnitude of 7.7 occurred ... Read the full article

Just ~5% of $20bn+ in economic losses from Turkey quakes to fall to re/insurers: Verisk

14th February 2023

The devastating M7+ earthquakes that occurred in Turkey on February 6th, 2023, are expected to drive economic losses of more than $20 billion, of which insurers and reinsurers will cover more than $1 billion, according to Verisk's Extreme Event Solutions. At least 37,000 lives have been lost following the M7.8 earthquake, ... Read the full article