Financial experts have warned of the risks to the insurance and financing sectors arising from loans granted to finance Chinese electric vehicles (EVs) imported from free-zone dealers.
The underwriting results of Middle East Insurance Company (MEICO) have been adequate in recent years, as evidenced by a five-year (2018-2022) weighted average combined ratio of 99.6% (as calculated by AM Best), according to the global credit rating agency.
The Central Bank of Jordan (CBJ), in cooperation with the United Nations Development Program (UNDP), has introduced a policy paper and action plan aimed at advancing the insurance sector in Jordan.
Insurance companies have reached an agreement with the Jordan Medical Association (JMA), in cooperation with the Ministry of Health and the Central Bank of Jordan to resolve a dispute related to doctors' fees and confirm the parties' commitment to implementing the agreed-upon protocol.
The proposed extension of social health insurance to the private sector will be postponed until further notice, due to financial concerns, Dr Mohammad Al-Tarawneh, the director-general of the Social Security Corporation (SSC), has announced.
First Insurance Company (SFIC) has achieved a solid five-year (2018-2022) weighted average combined ratio of 95.7%, as calculated by AM Best.
Mid-tier insurer National Insurance Company (NIC) has a track record of adequate operating performance, with a five-year (2018-2022) weighted average return-on-equity ratio of 5%, says AM Best.
The Jordan Insurance Federation (JIF) has joined the International Union of Marine Insurance (IUMI) on 1 November 2023, to enhance expertise and strengthen the exchange of experiences in marine insurance.
Gulf Insurance Group-Jordan (GIG Jordan) has demonstrated a track record of solid technical performance, reporting a combined ratio of 91.8% (2021: 86.4%) in 2022, as calculated by AM Best.
Following the earthquakes in southern Turkey and northern Syria last February, and Morocco in September, the government in Jordan is directing its energies to prepare the country to deal with any natural disaster.