News Middle East31 Mar 2020

Jordan:Marine insurance business bucks general growth in non-life market

31 Mar 2020

Marine insurance premiums in the Jordanian market witnessed a noticeable decline in 2019, compared to 2018.

Official data issued by the Jordan Insurance Federation revealed a decrease in marine insurance premiums of approximately JOD1.9m ($2.7m) to JOD17.8m in 2019 from JOD19.7m in 2018, a decrease of 9.8%, according to a report by Al Mal.

On the other hand, the claims paid in 2019 reached JOD7.7m, or JOD2.3m or 43% higher than the JOD5.4m claims paid in 2018.

In the overall insurance market, the 24 insurance companies operating in it increased written premiums to JOD614.5m in 2019, compared to JOD606.6m at in 2018, an increase of 1.3%.

The total compensation paid in the Jordanian insurance market reached JOD473.8m in 2019, compared to JOD466.3m in the previous year, an increase of 1.6%.

| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.