KAZAKHSTAN: EURASIA makes first payments for the earthquake destructions in Turkey

15 March 2023 —
The leader of the insurance sector of Kazakhstan, EURASIA paid the first KZT 132 million (~EUR 0.27 million) for damages as a result of a series of devastating earthquakes in the south-east of Turkey in early February, Allinsurance.kz reports citing the insurer.

This is the first documented claim for reinsurance payment from the Turkish side. Experts expect that payments will continue for several months as documents are being received from Turkish insurers, and according to preliminary estimates, the share of EURASIA may exceed USD 10 million.

It is noted that as an international reinsurer, EURASIA participates in several Turkish earthquake insurance programs (voluntary and mandatory) - the Turkish Catastrophe Insurance Pool (TCIP) national program.

*EUR 1 = KZT 489.85