Jordan: 19 insurers post combined 9M net profit of over $26m

Source: Middle East Insurance Review | Dec 2022

The aggregate profits of 19 insurance companies operating in the local market in Jordan increased by 9% for the first nine months of this year compared to the corresponding period last year, according to a study by Sanabel Al-Khair for Financial Investments.

The combined profits of the 19 insurers amounted to JOD18.6m ($26.2m) for the January-September 2022 period compared to JOD17m for the corresponding period last year, reported Al-Ghad citing the study. The results showed that 16 insurance companies achieved profits while three companies suffered losses.

The top five most profitable insurers for the first three quarters of this year are: Gulf Insurance Group (-11.8% to JOD5.4m); Islamic Insurance (+5.9% to JOD2.26m); Middle East Insurance (+45.5% to JOD2.19m); Al-Nisr Al-Arabi Insurance (-18.4% to JOD1.97m); and Al-Quds Insurance (+39.8% to JOD15.2m).

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

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