News Middle East13 Feb 2020

Jordan:Non-life sector pulls up overall insurance market in 2019

13 Feb 2020

General insurance premiums grew marginally by 1.7% to reach JOD528.7m ($746m) for the financial year ended 31 December 2019 compared to JOD519.7m for the previous year, according to initial official data released by the Ministry of Industry, Trade and Supply.

This growth was driven by an increase of 2.8% in medical insurance premiums in 2019, compared to 2018, and by motor insurance which grew by 3.3%. However, fire insurance and other property damage insurance premiums decreased by 2.8%.

Total life insurance premiums reached JOD85.8m during 2019 compared to JOD86.1m for the previous year, representing a dip of 0.4%.

Overall, total insurance premiums in the Jordanian insurance market crept up by 1.4% during 2019 to reach JOD614.5m.

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