Jordan: Aggregate profits of 22 insurers jumped 40% in 1H
Source: Middle East Insurance Review | Sep 2019
The combined profits of 22 insurers operating in the domestic market increased by 40% to JOD13m ($18.3m) in the first half of this year, compared with the corresponding period last year, according to an analysis by Sanabel Alkhair for Financial Investments.
Of the 22 insurers, 20 made profits, while the remaining two suffered losses.
The Arab Insurance Company ranked first in terms of net profit after tax, which reached JOD3.37m, an increase of 83.6% over the same period last year.
The Islamic Insurance Company came in second with a net profit of JOD1.36m, compared to JOD1.62m for 1H2018, while Middle East Insurance Company ranked third with a net profit of JOD1.26m, compared to JOD1.36m for 1H2018.
There are 24 licensed insurers operating in Jordan, 23 of which are listed on the Amman Stock Exchange. There are two companies which have branches outside Jordan. M
JOD1 = $1.41