Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Oct 2012

Country Profile


In search of a better tomorrow

The past 18 months have been tough for Jordan’s insurance sector, with profitability falling to unprecedented levels, rates sharply declining, and some players’ solvency slipping below required standards.

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Maintaining market stability

Although the motor market has been a key priority for the Insurance Commission (IC) of Jordan, it has not neglected the other areas, including life & pensions, compulsory insurance and the current RBC regime. Mrs Rana Tahboub, recently confirmed as Director General of the authority, elaborates on the IC’s plans while calling on insurers to develop products to cater to various social segments and to pay more attention to their core business.

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JIC seeks brighter future

The sector’s profitability is a big concern and the future of the market remains unclear, says Mr Imad Abdel Khaleq, Managing Director, Jordan Insurance Co (JIC).

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AOIC cements position despite difficulties

Arab Orient Insurance Co (AOIC) has maintained its market leadership and is one of the few profitable insurers in Jordan. CEO Isam Abdelkhaliq explains its strategy.

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FIC climbs to top five

For First Insurance Co (FIC), becoming one of the top five insurers in less than five years shows that the market rewards serious players, says Dr Ali Al Wazani, CEO.

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Al-Nisr benefits from bold step

Giving up its motor business has enabled Al-Nisr Al-Arabi Insurance Co to focus on better-performing lines like life, says Mr Yacoub Sabella, General Manager.

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Apex calls for improving brokerage standards in Jordan

The Insurance Commission (IC) should revisit the regulations for intermediaries to safeguard the market and improve the profession, says Mr Zuhair Al Atout, CEO, Apex Insurance, Reinsurance & Consultancy.

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