At this market briefing, our speakers will provide an overview of the unique tectonic setting in the region, early learnings on building-stock performance, an overview of the events and Verisk’s modelling approach.
Turkey is one of the most earthquake prone areas on earth and has suffered multiple earthquakes in the past 70 years. The North Anatolian Fault extends hundreds of miles from the Sea of Marmara in the western part of the country to the Eastern Anatolian Highlands. The fault moves back and forth about 8 inches (20 cm) a year.
The country has been experiencing frequent major earthquakes since 1990, including over 20 of magnitude greater than 7 on the Richter scale. Tragically, on February 6th 2023, a magnitude 7.8 earthquake struck south-central Turkey around 40 km northwest of the city of Gaziantep (values as per USGS). This event was followed nine hours later by a magnitude 7.5 temblor approximately 100 km north-northeast of the first epicentre.
This sequence of earthquakes is the largest to hit Turkey since 1939 and over 50,000 people are reported to have lost their lives, making this earthquake sequence the deadliest and most economically damaging in modern Turkish history.
At this market briefing, our guest speakers will provide an overview of the events including a discussion of past earthquakes, the unique tectonic setting in this region, early learnings on building-stock performance and Verisk’s modelling approach so that we can learn from the past to prepare for the future.
In-person registration from 11.30am with Tea/Coffee. Remote access is possible.