News Middle East13 Aug 2020

Jordan:Fire branch cushions fall in insurance industry's total premiums in 1H

| 13 Aug 2020

Written premiums in the Jordanian market fell by 3% to JOD306.4m ($432m) in the first half of this year, compared to the corresponding period in 2019, according to preliminary financial data issued by the the Jordanian Insurance Federation (JIF).

The premium decline could have been higher but for an increase in fire business.

Total compensation fell by 21.6% to JOD181.9m in 1H2020 from JOD232.1m in 1H2019, reported Al Mal citing the JIF data..

The premiums generated by some lines of business were as follows:

Branches

Premiums JOD m

Y-o-Y change

Fire

35.2

+ 9.4%

Medical

108.0

+ 0.1%

Life

46.6

+ 2.8%

Marine

9.0

- 3.8%

Comprehensive motor

99.2

-11.4%

Credit

0.3

-39.3%

 

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