Amana Insurance aims to boost profitability in 2019: CEO

30/01/2019 Argaam

 

Amana Cooperative Insurance Co.'s 2019 strategy aims to boost profitability and offer non-conventional insurance products, backed by its solid network across the Kingdom, chief executive officer Sulaiman Mahmoud told CNBC Arabia on Tuesday.

 

"Amana has learnt the lesson that competition led to massive losses, when we focus on burning prices. The company will abandon any competition that drives it to burn prices and adopt solid client selection strategy. Prices will be technically determined," Mahmoud said.

 

The insurer is also aiming to diversify its products through offering various solutions to small-and-medium enterprises (SMEs) and homeowners, in addition to conventional services, including motor and medical insurance.

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