Jordan: 24 insurers post after-tax profits of over $30m for 2019
Source: Middle East Insurance Review | Apr 2020
The profits of the Jordanian insurance sector after tax and fees amounted to JOD21.8m ($30.7m) in 2019, an increase of 38.9% over profits of JOD15.7m in 2018, according to the second preliminary statistical bulletin issued by the Department of Studies and Training of the Jordan Insurance Federation (JIF).
The data showed that 20 insurers posted profits totalling JOD25.3m, while four others incurred losses amounting to JOD3.5m.
In terms of profits before tax and fees, the 24 insurers in the market chalked up an aggregate of JOD28m in 2019 compared to JOD19.6m in 2018, an increase of 43.1%.
The data was collated from financial statements lodged by the insurers with the Amman Stock Exchange, reported Petra News Agency.
Total premiums grew by 1.3% y-o-y to JOD614.5m at the end of 2019, while total compensation paid by the insurance sector edged up by 1.6% to JOD473.8m, from JOD466.3m in 2018. M
JOD1 = $1.41