Gulf General expects positive impact on GWPs on automated detection of insurance

09/07/2020 Argaam

Gulf General Cooperative Insurance Co. (Gulf General) said that motor insurance policies sales could increase following the General Department of Traffic’s (GDT) announcement on completion of the automatic linking of motor insurance procedures in its records at the National Information Center.

 

The step will result in the automated seizure of vehicles with expired insurance policies starting from July 22, 2020, the insurer said in a bourse filing on Thursday.

 

The decision will have a positive impact on its motor gross written premiums (GWPs), the statement said, indicating it is currently difficult to determine the exact financial impact.

 

The insurer will disclose any developments in due course.

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