Jordan: Premiums up 6% to $824 mln in 2016
Source: Middle East Insurance Review | Mar 2017
Insurers operating in Jordan posted JOD582.9 million (US$823.9 million) in written premiums in 2016, an increase of 5.8% over 2015, reported the Petra news agency citing an insurance industry bulletin.
According to the Jordan Insurance Federation’s bulletin, automobile insurance constituted 38.7% of the 2016 premium volume at JOD225.8 million, followed by medical insurance which accounted for JOD171.5 million or 29.4% of total written premiums.
Premiums generated from fire and life insurance rose to JOD76.1 million and JOD70.1 million, respectively.
The gross value of claims insurers paid in 2016 amounted to JOD438.8 million, representing an increase of 19.7% over 2015, according to the bulletin.
There are 24 insurers operating in the Jordanian market.
JOD1 = US$1.41