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Insurers pay out 108M Omani rials for Cyclone Mekunu damage

Insurers have paid 108 million Omani rials for damage from Cyclone Mekunu, which hit Oman in May, according to data from the country's Capital Market Authority.

Insurers received a total of 765 claims, with property insurance claims making up the largest share of gross indemnities with 412 claims for 66 million rials, followed by 91 engineering claims for 33.4 million rials. Motor vehicle claims reached 206, for a payout of 679,000 rials.

As of Aug. 9, US$1 was equivalent to 0.39 Omani rial.