UAE – 20% decrease in motor ins. Prices
Tuesday, 10 02 2018, Category: Insurance and Reinsurance, Country: U.A.E
The prices of motor insurance contracts decreased by 20% during the first half of the current year compared to the same period last year according to H.E. Ebrahim Obaid Al Zaabi, Director General of the UAE Insurance Authority.
Mr. Zaabi said that the decrease in the average price is due to competition among 48 companies, so many companies are trying to sell “comprehensive” and “third party” insurance at the minimum price in order to achieve additional market shares.
Source: Al Ittihad