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Insurance market features
- Regulatory authority: Jordan Insurance Federation (JOIF)
- Life and non life premiums (2012): 659 million USD
- Insurance density (2012): 102.9 USD
- Penetration rate(2012): 2.12%
Market structure in 2012
Actors | Number |
|---|---|
Insurance companies | 28 |
Agents | 589 |
Insurance brokers | 127 |
Reinsurance brokers | 22 |
Loss adjusters | 59 |
Actuaries | 16 |
Insurance consultants | 30 |
Bank insurers | 16 |
Authorized underwriters | 10 |
Foreign reinsurance brokers | 34 |
Country profile
- Area: 92 300 km2
- Population (2012): 6 400 000 inhabitants
- GDP (2012): 31 billion USD
- GDP per capita (2012): 4 844 USD
- GDP growth rate (2012): 2.7%
- Inflation rate (2012): 4.7%
- Main economic sectors: textile industry, oil, tourism
Main cities
(in number of inhabitants in 2010 )
- Amman (capital): 2 367 000
- Irbid: 1 088 100
- Curepipe: 81 600
- Zarqa: 910 800
Evolution of life and non life premiums: 2008-2012
in USD| 2008 | 2009 | 2010 | 2011 | 2012 | |
|---|---|---|---|---|---|
Non life | 423 787 521 | 469 473 354 | 526 779 356 | 560 340 837 | 596 195 108 |
Life | 51 153 701 | 49 577 392 | 54 069 655 | 57 748 842 | 62 654 040 |
Total | 474 941 222 | 519 050 746 | 580 849 011 | 618 089 679 | 658 849 148 |
Evolution of life and non life incurred losses: 2008-2012
in USD| 2008 | 2009 | 2010 | 2011 | 2012 | |
|---|---|---|---|---|---|
Non life 1 | 309 376 120 | 355 786 275 | 404 028 274 | 467 536 190 | 465 949 227 |
Life 2 | 15 394 940 | 15 606 036 | 15 373 096 | 16 016 442 | 18 296 771 |
Total | 324 771 060 | 371 392 311 | 419 401 370 | 483 552 632 | 484 245 998 |
2 Life benefits
Premiums 2008-2012in thousands | Losses 2008-2012in thousands |
|---|
Turnover’s evolution per class of business: 2008-2012
in thousands USD| 2008 | 2009 | 2010 | 2011 | 2012 | 2012 shares | |
|---|---|---|---|---|---|---|
Motor | 198 510 | 213 259 | 251 193 | 260 191 | 276 656 | 42.0% |
Marine | 37 572 | 28 909 | 30 179 | 33 759 | 35 164 | 5.4% |
Aviation | 4 222 | 6 551 | 4 809 | 9 748 | 7 566 | 1.1% |
Fire & other property damage | 67 402 | 76 034 | 80 018 | 81 202 | 86 414 | 13.1% |
Third party liability | 11 153 | 11 814 | 8 953 | 9 035 | 8 402 | 1.3% |
Credit | 1 094 | 864 | 660 | 644 | 434 | 0.1% |
Health | 93 180 | 116 735 | 133 655 | 149 878 | 166 187 | 25.2% |
Other risks | 10 655 | 15 308 | 17 312 | 15 883 | 15 374 | 2.3% |
Total non life | 423 788 | 469 473 | 526 779 | 560 341 | 596 195 | 90.5% |
Life | 51 153 | 49 578 | 54 070 | 57 749 | 62 654 | 9.5% |
Total | 474 941 | 519 051 | 580 849 | 618 090 | 658 849 | 100% |
Incurred losses per class of business: 2008-2012
in thousands USD| 2008 | 2009 | 2010 | 2011 | 2012 | 2012 shares | |
|---|---|---|---|---|---|---|
Motor | 257 673 | 290 164 | 332 014 | 394 632 | 380 293 | 78.5% |
Marine | 698 | 1 038 | 1 281 | 665 | 896 | 0.2% |
Aviation | 5 | -5 | -11 | 3 | 0.8 | 0.0% |
Fire & other property damage | 3 255 | 1 793 | 1 986 | 1 290 | 2 495 | 0.5% |
Third party liability | 884 | 993 | 380 | 429 | 271 | 0.1% |
Credit | 414 | 1 495 | -69 | -397 | -205 | 0.0% |
Health | 45 692 | 59 155 | 66 995 | 68 790 | 80 403 | 16.6% |
Other risks | 755 | 1 153 | 1 451 | 2 124 | 1 795 | 0.3% |
Total non life | 309 376 | 355 786 | 404 028 | 467 536 | 465 949 | 96.2% |
Life | 15 395 | 15 606 | 15 373 | 16 016 | 18 297 | 3.8% |
Grand total | 324 771 | 371 392 | 419 401 | 483 552 | 484 246 | 100% |
Turnover’s evolution per company: 2008-2012
in thousands USD| 2008 | 2009 | 2010 | 2011 | 2012 | 2011/2012 evolution | 2012 shares | |
|---|---|---|---|---|---|---|---|
Arab Orient Ins. | 45 952 | 63 381 | 75 717 | 93 564 | 109 584 | 17.12% | 16.6% |
Jordan Insurance | 43 653 | 46 529 | 51 670 | 57 276 | 65 483 | 14.33% | 9.9% |
Middle East Ins. | 31 100 | 33 002 | 37 821 | 41 423 | 47 053 | 13.59% | 7.1% |
Jordan French Ins. | 21 839 | 23 536 | 23 886 | 29 330 | 30 295 | 3.29% | 4.6% |
First Insurance | 4 322 | 12 638 | 15 923 | 19 841 | 30 079 | 51.60% | 4.6% |
Al Nisr Al Arabi Ins. | 19 162 | 21 422 | 25 789 | 29 454 | 27 652 | -6.12% | 4.2% |
Islamic Insurance | 17 896 | 20 076 | 21 199 | 22 896 | 26 141 | 14.17% | 4.0% |
Jordan Emirates Ins. | 4 703 | 8 918 | 16 577 | 21 444 | 25 595 | 19.36% | 3.9% |
ALICO | 25 497 | 22 875 | 23 377 | 22 969 | 23 011 | 0.18% | 3.5% |
Euro Arab Ins Group | 20 494 | 23 285 | 21 089 | 20 396 | 22 361 | 9.63% | 3.4% |
Jordan International | 19 917 | 23 508 | 22 147 | 25 216 | 22 301 | -11.56% | 3.3% |
United Insurance | 11 168 | 13 808 | 18 249 | 18 822 | 21 256 | 12.93% | 3.2% |
General Arabia Ins. | 16 511 | 14 243 | 15 724 | 19 391 | 21 080 | 8.71% | 3.2% |
Jerusalem Ins. | 16 248 | 14 767 | 16 016 | 16 906 | 20 754 | 22.76% | 3.2% |
Med Gulf Insurance | 9 475 | 13 557 | 14 480 | 13 081 | 19 524 | 49.25% | 3.0% |
Arab Life and Accident | 23 106 | 17 491 | 15 414 | 17 053 | 18 051 | 5.85% | 2.7% |
National Insurance | 10 574 | 11 390 | 12 941 | 15 264 | 16 714 | 9.50% | 2.5% |
Delta Insurance | 6 990 | 7 411 | 8 650 | 11 494 | 15 184 | 32.11% | 2.3% |
Al Manara Ins. | 9 911 | 8 579 | 14 387 | 12 863 | 15 089 | 17.31% | 2.3% |
Holy Land Ins. | 17 549 | 17 157 | 14 582 | 7 834 | 14 339 | 83.05% | 2.2% |
Arab Jordanian Insurance | 13 166 | 13 622 | 10 575 | 11 942 | 14 227 | 19.13% | 2.2% |
Arab Assurers | 15 850 | 16 385 | 16 726 | 11 549 | 13 677 | 18.42% | 2.1% |
Arab Union International | 9 987 | 11 948 | 19 853 | 16 632 | 12 230 | -26.47% | 1.9% |
Philadelphia Ins. | 4 539 | 4 721 | 7 628 | 9 824 | 11 079 | 12.77% | 1.7% |
Al Yarmouk Ins. | 8 618 | 7 773 | 10 489 | 11 979 | 9 308 | -22.29% | 1.4% |
Arab German Ins.* | 35 324 | 35 942 | 40 531 | 33 069 | 6 772 | -79.52% | 1.0% |
Gerasa Insurance** | 3 784 | 3 363 | 279 | 111 | 5 | -95.02% | 0.0% |
Al Barakah Takaful | 7 606 | 7 722 | 9 112 | 6 463 | - | 0.00% | 0.0% |
Total | 474 941 | 519 051 | 580 849 | 618 090 | 658 849 | 6.6% | 100% |
** License withdrawn in 2012
Exchange rate JOD/USD as at 31/12 | 2008 | 2009 | 2010 | 2011 | 2012 |
1.42615 | 1.42146 | 1.42146 | 1.41543 | 1.41243 |