Jordan: Insurance sector sees 31% profit surge

Source: Middle East Insurance Review | Apr 2015

Jordan’s insurance industry has reported combined net profits of JOD32.7 million (US$46.2 million) last year, an increase of 30.5% compared to JOD22.7 million for 2013. GWP increased by 6.5% last year to around JOD537 million, compared to JOD492 million for 2013.

A source from the Jordan Insurance Federation (JOIF) told Assabeel newspaper that the rise in net profits was due to fewer traffic accidents and increased public safety.

Arab Orient Insurance was the largest insurer in terms of premiums, with GWP amounting to JOD95 million and a net profit of JOD5 million in 2014. Jordan Insurance came in second with total premiums written of JOD52 million and a net profit of JOD3.6 million, while the Middle East Insurance Company ranked third with total premiums written of JOD38 million and net profit of almost JOD2 million.

JOD1 = US$1.41

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