UAE – Decreasing prices to boost GWP before year-end
Monday, 10 15 2018, Category: Insurance and Reinsurance, Country: U.A.E
Insurance companies started decreasing the prices of contracts during the last quarter of the current year in order to attract additional premiums that could help improve their financials before the end of the financial year.
Most of the decreases in prices took place in the individual insurance lines such as motor insurance, which is powerful in helping to secure liquidity.
However, experts warned about the high risks of these practices indicating that financial could be improved by increasing premiums but the claims will just be delayed and will eventually accumulate.
Source: Al Roeya - UAE