Note: This is based on an article written for the 16th Singapore International Reinsurance Conference.
The day I was writing this article, an earthquake measuring 5.8 magnitude shook Istanbul, causing panic amongst residents, evacuation of schools and public offices. It also led to the collapse of the minaret of a mosque in Turkey's most populous city.
The Turkish earthquake happened during the same week in which another 5.8 magnitude earthquake event in northeastern Pakistan killed 38 people and injured more than 700. It also caused extensive damage to infrastructure and roads in that region of