News Middle East07 Aug 2019

Jordan:Aggregate profits of 22 insurers jump by 40% in 1H

| 07 Aug 2019

The combined profits of 22 insurance companies operating in the domestic market increased by 40% in the first half of this year, compared with the corresponding period last year, according to an analysis by Sanabel Alkhair for Financial Investments.

The total profits of the 22 companies for 1H2019 stood at JOD13.02m ($18.36m), compared with JOD9.29m in the same period last year.

Of the 22 insurers, 20 insurance companies made profits, while two companies suffered losses.

Top 3

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 second with a net profit of JOD1.36m, compared to JOD1.62m for 1H2018.

Middle East Insurance Company ranked third with a net profit of JOD1.26m, compared to JOD1.36m for 1H2018.

There are 24 licensed insurance companies operating in Jordan, 23 of which are listed on the Amman Stock Exchange. There are two companies which have branches outside Jordan.

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