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International

Saudi Arabia: Insurers expect $133.2 million in loss from recent floods

November 25, 2014 Reprints

Saudi Arabian insurers have said that the recent floods in the country's Jeddah and Mecca cities could cost the insurance sector an estimated 500 million Saudi Arabian riyals ($133.2 million), Emaratalyoum.com reported citing Al Jazeera.

Insurers said the projected costs include those related to damage to insured buildings, projects, homes and vehicles, among others.

Losses could increase if the situation continues, the insurers said.

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Saudi Arabia: Insurers expect $133.2 million in loss from recent floods

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