The aggregate profits of 23 insurance companies operating in the local market surged by 38% to JOD26.7m ($37.7m) last year compared to 2019, according to a study by Sanabel Al-Khair Financial Investments.
The results also show that 17 insurance companies made profits while six companies suffered losses in 2020, reported Al Ghad citing the study. In comparison, in 2019, among the 23 insurers, 19 were profitable while four reported losses.
|
2020Rank
|
Insurer
|
2020 Net
profit/loss JODm
|
2019 Net
profit/loss JODm
|
2020/2019
Results (Better/Worse)
|
|
1
|
Arab Orient Company
|
5.68
|
5.16
|
+10.0%
|
|
2
|
Al Nisr Al Arabi Insurance
|
3.06
|
2.84
|
+7.8%
|
|
3
|
Jordan Insurance
|
3.01
|
1.47
|
+105%
|
|
4
|
Delta Insurance
|
2.50
|
2.54
|
-1.8%
|
|
5
|
Al-Manara Insurance
|
1.78
|
0.41
|
+338.2%
|
|
6
|
Islamic Insurance
|
1.73
|
1.18
|
+46.7%
|
|
7
|
Solidarity-First
|
1.60
|
2.28
|
-29.9%
|
|
8
|
United Insurance
|
1.50
|
1.10
|
+36.0%
|
|
9
|
Arab Jordanian
|
1.49
|
1.02
|
+46.0%
|
|
10
|
Jordan French
|
1.42
|
1.44
|
-1.2%
|
|
11
|
Euro Arab
|
1.22
|
1.00
|
+22.0%
|
|
12
|
Jerusalem
|
1.19
|
1.24
|
-3.8%
|
|
13
|
Middle East
|
1.01
|
1.21
|
-16.4%
|
|
14
|
Holy Land
|
0.90
|
-2.83
|
+131.0%
|
|
15
|
National
|
0.89
|
0.46
|
+92.6%
|
|
16
|
Arab Insurance - Jordan
|
0.64
|
0.36
|
+76.5%
|
|
17
|
Arab Assurers
|
0.33
|
0.18
|
+87.6%
|
|
|
Loss making insurers
|
|
|
|
|
18
|
Al Safwa
|
-0.13
|
-0.35
|
+62.4%
|
|
19
|
Jordan International
|
-0.14
|
0.43
|
-131.6%
|
|
20
|
Arab Union International
|
-0.21
|
0.10
|
-318.1%
|
|
21
|
Philadelphia
|
-0.50
|
-1.57
|
+68.1%
|
|
22
|
MedGulf
|
-0.56
|
0.13
|
-522.9%
|
|
23
|
Arab Life & Accidents
|
-1.70
|
-0.35
|
-384.5%
|
Source: Al Ghad
Excluded from the list is MetLife. There are 24 insurance companies licensed to operate in Jordan.