Tawuniya CFO says auto insurance market suffers from ‘price war’

14/03/2023 Argaam

Tawuniya CFO says auto insurance market suffers from ‘price war’

Ammr Kurdi, CFO of Tawuniya

The Company for Cooperative Insurance’s (Tawuniya) CFO Ammr Kurdi said that the auto insurance market has been suffering from a price war since a long time.   

  

In a statement to Al Ekhbariya TV, Kurdi said historical insurance prices were significantly low, giving an impression that the current increase in prices is very high.   

 

Moreover, recently issued indicators pointed to a 28% increase in car accidents, which led companies to raise prices in response to the losses incurred, Kurdi noted.  

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