Syria: Insurance sector sees 1H losses of nearly US$1 mln
Source: Middle East Insurance Review | Oct 2015
The Syrian insurance market saw estimated losses of SYP177 million (US$937,500) for the first half of this year, due to the ongoing conflict taking place in the country.
The estimated losses were incurred by 34 branches of insurance companies, excluding eight branches whose damages have not been assessed by insurers, and three branches in parts of the country that could not be reached as they were partially or completely destroyed, reported the Syrian Arab News Agency.
In a study of the losses, the Insurance Supervisory Commission indicated that acts of sabotage and looting perpetrated by armed terrorist groups prevented the work of seven insurance companies in Homs, in addition to one company in Daraa and another company in Qamishli.
SYP10 = US$0.05