News Middle East06 Nov 2017

UAE:Insurers cut premium rates to boost topline in year-end window dressing

06 Nov 2017

Several insurance companies are trying to improve the topline figures in their financial statements by underpricing their products in order to boost sales before the year end, despite the impact which the move might have on their bottomline.

Experts said that price wars are more evident in some classes of business especially individual lines, such as motor insurance, which boost liquidity, reported Al Roeya.

The experts warned that the price war would have a negative impact on the profits of insurers and that such practices worsen problems over time without a solution.

They said that such practices prevail in the sector in the last quarter of each year.

 


 

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