Kuwait-based International Financial Advisors (IFA) confirmed on Thursday an insurance payout by one of its subsidiaries following ‘rain accidents’.

In a statement to the Dubai Financial Market (DFM) IFA said First Takaful Insurance Company had paid an ‘amount of compensation’ to an insured client after material losses as a result of rain accidents.

The statement confirmed the amount was KD $791,000 ($2.6 million).

The client was not named in the IFA statement.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

(imogen.lillywhite@refintiv.com)

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