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According to a report from Aon PLC, the massive earthquakes that struck Turkey and Syria on Feb. 6 resulted in economic losses of approximately $39.1 billion, comprising more than half of global economic losses in the first quarter of this year, Middle East Insurance Review reported. Aon’s preliminary estimate of global natural disaster losses is at least $63 billion. The earthquakes caused extensive damage to commercial, public and residential property besides infrastructure and other assets.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms