Floods in the United Arab Emirates: loss estimates

Floods in the United Arab Emirates: loss estimatesEstimates produced by broker Guy Carpenter suggest that the insured losses arising from the recent floods that swept across the United Arab Emirates may amount to 1.6 to 2.4 billion USD.

The cost of economic damage is likely to be much higher, given the low insurance penetration rate in the country.

For the record, the United Arab Emirates, and Dubai in particular, experienced heavy rainfall in April 2024, which triggered massive flooding. These floods also affected other Gulf regions such as Bahrain and Oman.

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