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Property insurance premiums surge after catastrophes

Muscat, Oman

Oman's financial regulator said that property insurance premiums increased 22% year over year to nearly 50 million Omani rials ($130 million) in 2018 after cyclone Mekunu caused significant losses in the country, Times of Oman reported. Property insurance premiums accounted for 10.5% of total premiums while property claims accounted for 70% of total claims.

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