Turkey quake insured losses to exceed $5bn amid $25bn economic hit: Moody’s RMS

23 February 2023

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Insured losses from the sequence of earthquakes that struck Turkey earlier this month could exceed $5bn, according to Moody’s RMS, while the disaster is expected to inflict a $25bn hit on the country’s economy.

The risk modeller said the loss estimates are based on an analysis of the earthquake sequence using Moody’s RMS Europe Earthquake Models and reflect damage to property and contents, and BI, across residential, commercial and industrial lines in Turkey.

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Turkey quake insured losses to exceed $5bn amid $25bn economic hit: Moody’s RMS

Insured losses from the sequence of earthquakes that struck Turkey earlier this month could exceed $5bn, according to Moody’s RMS, while the disaster is expected to inflict a $25bn hit on the country’s economy.

Fuel a smarter strategy with our actionable market intelligence

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Turkey quake insured losses to exceed $5bn amid $25bn economic hit: Moody’s RMS

Insured losses from the sequence of earthquakes that struck Turkey earlier this month could exceed $5bn, according to Moody’s RMS, while the disaster is expected to inflict a $25bn hit on the country’s economy.

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Fuel a smarter strategy with our actionable market intelligence

Topics

GIE Gareat’s terrorism bond prices near top end of guidance at 5.25%

American Coastal targets $100mn of Florida named storm coverage

Twia to target 43% more limit at $5.8bn on exposure growth and Beryl losses

Allstate pegs October cat losses at $226mn post-tax

Plenum’s Dynamic Cat Bond Fund reaches $200mn in AuM