UAE – Underpricing and overcrowded market
Wednesday, 11 29 2017, Category: Insurance and Reinsurance, Country: U.A.E
Mr. Ahmad Idris, the Chief Executive Officer of Abu Dhabi National Insurance Company said that underpricing policies in the insurance sector as well as the excessive number of insurers in the market are the two main challenges in the country. He added that the regulatory and legislative framework improved rapidly in the past year and this was reflected positively in the performance of the market but with differences from one company to another.
Moreover, Mr. Idris told “Al Khaleej” that the performance of Abu Dhabi National Insurance Company was good and profits increased by 24%.
Source: Economic Al Khaleej