Jordan:Insurance industry chalks up net profit of US$18m in 1H

The Jordanian insurance market posted profits totalling JOD13m ($18.3m) for the first half of this year, according to a study by the investment house Sanabel Al Khair for Financial Investments.

The figure is 40% higher compared to the JOD9.3m net profits raked in for the corresponding six months of last year.

Out of 23 insurers in the kingdom, 22 filed their 1H2019 financial results. Among them, 20 insurance companies posted profits while two suffered losses.

The top five insurers in terms of 1H profits were:

Interim financial results released by the Jordan Insurance Federation show that total technical profits of the industry increased to JOD13.5m for 1H2019, 48% more compared to JOD9.1m for 1H2018. Written premiums declined by 2.2% to JOD316.8m in 1H2019 compared to JOD323.9m in the corresponding half last year.

Source: Middle East Insurance Review

Insurer	Net profit   JOD
Arab Orient	3.4m
Islamic Insurance	1.4m
Middle East Insurance	1.3m
Jordan Insurance	1.2m
First Insurance	827K