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Nov 2019

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Jordan: 1H underwriting profits jumped by nearly 50%

Source: Middle East Insurance Review | Oct 2019

The Jordanian insurance market posted higher technical profits for the first half of 2019 compared to the corresponding half last year despite a dip in written premiums.
 
Interim financial results released by the Jordan Insurance Federation for 23 insurers show that total technical profits increased to JOD13.5m ($19m) for 1H2019, up 48% compared to JOD9.1m for 1H2018.
 
Written premiums fell by 2.2% to JOD316.8m in 1H2019 compared to JOD323.9m in the same period last year.
 
Premiums generated by the non-life segment during the first half of this year reached JOD271m, down 2% compared with the same period last year, while life premiums stood at JOD45.5m, a decrease of 2.8%.
 
The total compensation paid by the insurance market increased by 2.7% to JOD240.3m in 1H2019, due to the higher compensation paid in a number of branches, especially the marine branch. M 
 
JOD1 = $1.41
 
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