Gulf flooding to push up reinsurance costs: Moody’s
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Gulf flooding to push up reinsurance costs: Moody’s

‘Strong reinsurance cover’ in the UAE, Oman and Saudia Arabia is to be triggered.

By Rachel Dalton
April 23, 2024
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ALAMY dubai flooding april 2024 cars highway.png
Photo: Alamy

Flooding that struck the Gulf Cooperation Council (GCC) area, including the United Arab Emirates (UAE), Oman and Saudi Arabia, will drive up reinsurance costs for local carriers, according to Moody’s.

The

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