Jordan – Investment in insurance increases by 19%
Monday, 08 14 2017, Category: Insurance and Reinsurance, Country: Jordan
Despite the improvement of the insurance sector indicators, this sector still needs more regulations and legislations given this small market, which has around 24 companies. We note that the services of some insurers do not have the needed quality to compete.
Moreover, experts confirmed the necessity of mergers and acquisitions in order to build strong insurance companies that are able to compete.
During the last decade, the size of investments in the insurance sector grew significantly. Net profits, total written premiums and assets also increased.
According to an analytical study prepared by “Al Ghad” newspaper about local insurance companies, the size of the investments in the local insurance sector grew by 19% during the past ten years reaching JOD 543.5 million last year compared to JOD 457 million in year 2007.
Source: Al Ghad