Jordan – Profits of 24 insurers jump by 29%
Monday, 11 28 2016, Category: Insurance and Reinsurance, Country: Jordan
The consolidated profits of 24 insurance companies operating in the local market during the first nine months of the current year increased by 29% compared to the same period last year according to the figures released by the Jordan Insurance Federation.
The value of the profits reached JOD 27.3 million after tax and fees compared to JOD 21.5 million during the same period last year noting the profits before tax reached JOD 35 million.
At the level of motor insurance business (both compulsory and comprehensive), the total profits achieved by 23 insurance companies reached JOD 6.6 million.
In detail, the compulsory motor insurance line at license centers for 23 insurers suffered from losses amounting to JOD 10.3 million where 18 insurance companies posted losses for this line of business.
Source: Al Ghad