Jordan – Arab Orient Insurance plans acquisition
Wednesday, 03 30 2016, Category: Insurance and Reinsurance, Country: Jordan
The General Manager of Arab Orient Insurance which is the largest insurance company in Jordan said that this company which is part of the Kuwaiti “Gulf Insurance Group” is considering the acquisition of one of two insurance companies in order to increase its market share in a sector negatively affected by regional tensions.
Mr. Mustafa Melhem in an interview with Reuters said that he expects a merger with one of two companies of which he did not reveal the names before year end after completing the feasibility study.
He added that “mergers are very important, they support the company and give it more strength”.
The government offers incentives to insurance companies in order to establish larger companies in a market witnessing strong competition between 24 companies of which two are Islamic bearing in mind that most of them have low capitals.