Turkish insurers and reinsurers boost non-proportional Nat CAT cover

Source: Middle East Insurance Review | Sep 2024

Amid rising earthquake risks such as Kahramanmaras in 2023 and a challenging market environment, Turkish insurers and reinsurers are increasingly shifting towards non-proportional coverage, adjusting strategies to protect against escalating Nat CAT exposures. Major changes were made to treaty terms during 2024 renewals which Milli Re’s Ms Seda Orman Küçükçirkin describes as a late and tough 2024 renewal season. Middle East Insurance Review spoke with her to find out more.

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