Nairobi, Sept. 3 -- Old Mutual Holdings recently disclosed that it had decided to deliberately let go of some business from its books that was poorly performing, bringing to focus the issue of price undercutting in the insurance industry.

Business Daily spoke to Arthur Oginga, the group's chief executive officer, on the pricing issue in the company, the challenge of fraud and the progress in the company's plan to dispose of real estate holdings.

One of the problems associated with the insurance business is price undercutting - from where you sit, how big a challenge is it, and what is the way forward for the industry to address it?

My simple answer would be that a reduction in prices is, in and of itself, not a bad thing for customers....