Jordan: 18 insurers post one-third fall in combined profits in 2021

Source: Middle East Insurance Review | Apr 2022

The aggregate profits of 18 insurance companies operating in Jordan’s domestic market fell by 35.2% last year compared to results in 2020, according to a study by Sanabel Al Khair for Financial Investments.

The total profits of the 18 insurance companies, that have disclosed their 2021 financial results, amounted to JOD17.18m ($24.2m), compared to JOD26.5m in 2020.

Among them, 13 insurance companies were profitable in 2021, while five companies suffered losses.

Arab Orient Insurance (+15.5% to JOD6.55m) and al-Nisr Al Arabi Insurance (-4.4% to JOD2.92m) continued to lead the pack in 2021 as they did in 2020. Rounding out the top 10 insurers in terms of profits were First Insurance, Islamic Insurance, Middle East Insurance, United Insurance, Jerusalem Insurance, Euro Arab Insurance, National Insurance and Jordan Insurance.

There are 21 insurance companies licensed to operate in Jordan, 20 of which are listed on the Amman Stock Exchange. M

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