Cyclone Mekunu could cost Omani insurance providers $400m

Most powerful storm to hit Arabian Peninsula in recorded history led to 1,123 claims to Oman insurance firms
Cyclone Mekunu could cost Omani insurance providers $400m
Cyclone Mekunu was the most intense storm ever recorded to make landfall on the Arabian Peninsula, recording 180 kmph winds and waves up to eight feet high.
By Shayan Shakeel
Wed 02 Jan 2019 02:12 PM

The category 3 cyclone that hit the southwestern coast of Oman in May caused more than $400 million in loss and damages according to insurance claims filed with the country’s providers.

Twenty insurance companies in the country has received 1,123 claims, according to capital market authority data quoted by the Times of Oman.

Total loss claims stood at OMR155,218,221 ($403.7 million).

Property claims stood at more than half of the total value at OMR93,687,849 ($243.7 million).

Cyclone Mekunu was the most intense storm ever recorded to make landfall on the Arabian Peninsula, recording 180 kmph winds and waves up to eight feet high.

It hit land near Raysut Oman on May 25, making it the first hurricane strength storm to hit Oman’s dhofar governorate since 1959.

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