Zurich-based catastrophe insurance data provider PERILS on August 6 released its final insured property market loss estimate for the catastrophic series of earthquakes that hit southeastern and south-central Turkey in February 2023, announcing a figure of Turkish lira (TRY) 116.9bn (approximately $6.2bn at February 2023 exchange rates). The huge natural disaster took the lives of at least 51,000 people across 11 Turkish provinces, although there are observers who claim officials are responsible for a drastic undercount. In terms of insured losses, noted PERILS, the quakes, known to insurers as…
