Middle East: Climate warming makes GCC states more vulnerable to flooding

Source: Middle East Insurance Review | Jun 2024

Ongoing economic development and rapid urbanisation will result in further accumulation of infrastructure and private assets that need to be insured, including against natural catastrophe risks, said Swiss Re Institute (SRI).

In a report titled “Middle East Outlook: Diversification to Drive Economic and Insurance Market Growth”, SRI says that many of the cities in the GCC states are on the coast and, as climates warm, these are becoming more vulnerable to flooding from rising sea levels and tropical storms.

Although many countries in the region have a desert climate, “wet” weather catastrophe events like floods and cyclones are not unheard of, the recent floods in the UAE and Oman being a case in point.

Across the region, Saudi Arabia, Oman and Pakistan have suffered the heaviest economic losses from natural disasters in the last 30 years. Flooding has been the main peril, followed by tropical cyclones. M

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