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Competition, low profitability to drive consolidation among insurers

Posted On: Apr. 15, 2019 6:06 AM CST

Experts have said that mergers and acquisitions are inevitable among insurers and takaful firms in the United Arab Emirates in the next two years driven by competition, lack of expertise and low profitability, Zawya reported citing sources. Vasilis Katsipis, an official at U.S.-based ratings agency AM Best Co. Inc., however said that high selling prices are hampering consolidation in the insurance sector.

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