Shareholders of Kuwait-headquartered Gulf Insurance Group (GIG) have approved the group's exit from the Syrian market and the sale of its subsidiary, Syrian Kuwaiti Insurance.
The 6 February earthquake in Turkiye and Syria was by far the most devastating natural disaster in the first six months of the year, says global reinsurance giant Munich Re.
The devastating 6 February earthquake in Türkiye and Syria with economic losses of approximately $39.1bn drove global natural disaster losses in the first quarter of 2023, says leading global professional services company Aon in its "Q1 Global Catastrophe Recap April 2023" report.
The 6 February earthquakes that hit Turkiye and Syria caused an estimated $5.1bn in direct physical damages in Syria, according to a World Bank Global Rapid Assessment report, says the World Bank.
Syrian Insurance Company (SIC), the largest insurer in Syria, is collecting data in the region hit by the devastating 6 February earthquakes, to ascertain the extent of losses, says Mr Ahmed Melhem, a director of the company.
Insurable losses from the 6 February earthquakes that hit Turkiye and Syria are hard to estimate as the situation is evolving, but they appear likely to exceed $2bn and could reach $4bn or more, says Fitch Ratings.
It is still too early to estimate the total economic and insurance impact of this significant event, said global reinsurance giant Munich Re.
The death toll from the 6 February devastating earthquakes that struck in a region that encompasses southeastern Turkiye and northern Syria exceeded 8,000 yesterday, authorities say.
A magnitude-7.8 earthquake struck southern Turkiye, near the northern border of Syria, at 04:17 local time yesterday.
Several trends in 2020 reveal how the pandemic has shaped terrorist activity, says Aon as it releases its 2021 Risk Maps yesterday. Terrorist threats from both the far-right and left extremists fell overall.