UAE – Price war to increase premiums
Wednesday, 11 01 2017, Category: Insurance and Reinsurance, Country: U.A.E
Insurance companies are trying to improve the image of their financial statements by underpricing insurance contracts in order to boost sales before year end.
Experts told “Al Roeya” that price wars are clear in some sectors especially individual lines such as motor insurance, which helps secure liquidity.
Moreover, experts warned about these policies that improve the appearance of financials and leave a negative impact on the profits of companies, indicating that these practices worsen the problems across time.
Source: Araa news