Arabia Falcon Insurance Co. said it expects losses from Cyclone Mekuni to amount to no more than 240,000 Omani rials.
The cyclone affected Yemen and Oman in late May, killing at least 30 people, The National wrote June 3. It had sustained winds of up to 180 kph.
The company said there are still details and claims to be worked out but that although has no definitive figure for the amount incurred in claims, it has adequate protection through "robust reinsurance arrangements."
Oman Qatar Insurance Co. SAOC and Takaful Oman Insurance SAOG also said they were sufficiently prepared through reinsurance arrangements, although they did not specify any amount in terms of losses incurred.
Arabia Falcon Insurance was formed by the merger of Falcon Insurance Co. SAOC and Arabia Insurance Co. in Oman.
As of June 4, US$1 was equivalent to 0.39 Omani rial.
