Jordan Insurance Market Indicators 2022

JD 701,7 m

Premiums

JD 500,6 m

Paid Claims

JD 251 m

Paid in Capital

JD 22,8 m

Underwriting Profit

JD 17,3 m

Profit After Tax

JD 648 m

Investments

JD 343  m

Equity

JD 1,099 m

Assets
For Reports
Market Statistics Insurance Business in Jordan 2000-2022

Jordanian Market Statistics

Insurance business in Jordan for the years  2000-2022

Indicators 2016-2022

 

Year/Details      2016 2017 2018 2019 2020 2021 2022
Population in Jordan (Thousands) 9,798 10,053 10,309 10,554 10,806 11,057 11,302
GDP Growth Rate (Current Prices) ( Millions JD) 28,106 29,400 30,481  31,597 30,942 32,033 33,691
GDP Growth Rate (Constant Prices) (%) 2 2.1 1.9  2 1.6 - 2,2 2,5
Insurance  Penetration : premiums as  a % of GDP 2,1% 2,09%  2,02% 1,9%  1,94% 2.20% 2.50%
Insurance Density: premiums Per Capita in (JD) 59.5 59  59  58,3 63,1  56.7 62.1
Insurance Density: premiums Per Capita in (USD) 84 83  83  82,3 89 80.9 88.6

 

 

Indicators 2009-2015 

 

Year/Details      2009 2010 2011 2012 2013 2014 2015
Population in Jordan (Thousands) 5,980 6,113 6,249 6,388 6,530 8,804 9,532
GDP Growth Rate (Current Prices) ( Millions JD) 16,912.20 18,762.00 20,349 21,965 23,851 25,596 27,089
GDP Growth Rate (Constant Prices) (%) 5.5 2.3 2,6 2,7 2,8 3,4 2,5
Insurance  Penetration : premiums as  a % of GDP 2.20% 2.10% 2,1% 0,02% 2,1% 2,1% 2,1%
Insurance Density: premiums Per Capita in (JD) 61 66,7 69,9 73 75 79 57.7
Insurance Density: premiums Per Capita in (USD) 86 94 99 102.8 106 111 81.5

 

Indicators 2000-2008 

 

Year/Details      2000 2001 2002 2003 2004 2005 2006 2007 2008
Population in Jordan (Thousands) 5,039 5,182 5,329 5,480 5,350 5,473 5,600 5,723 5,850
GDP Growth Rate (Current Prices) ( Millions JD) 6,002.40 6,260.00 6,794.00 7,228.70 8,081.30 9,012.20 10,108.50 12,131.40 15,593.10
GDP Growth Rate (Constant Prices) (%) 4.2 4.2 5.8 4.2 8.4 7.2 6.4 8.2 7.2
Insurance  Penetration : premiums as  a % of GDP 1.70% 1.90% 2.20% 2.30% 2.40% 2.50% 2.60% 2.40% 2.30%
Insurance Density: premiums Per Capita in (JD) 21.3 23.2 27.5 31.3 35.7 40.2 46 51 57
Insurance Density: premiums Per Capita in (USD) 30 32.7 38.7 44.1 50.3 56.6 64.9 71.8 80.3

*Central Bank of Jordan Report

 

Insurance business in Jordan 2000-2022

Jordan Insurance Market 2016-2022

 

Year/Details      2016 2017 2018 2019 2020 2021 2022
Number of Insurance Companies* 24 24 24 24 24 23 21
Total Underwritten Premiums 582,937,127 594,112,519  605,812,329 615,295,005 593,442,125 640,483,696 701,704,032
Growth Rate of Premiums 5,7% 1,9%  2,0% 1.60% -3.60% 9.70% 9.60%
Non-Life Premiums (General Insurances) 512,353,786 514,275,918  519,724,726 529,596,652 500,760,776 526,048,105 572,755,756
Life Premiums 70,583,341 79,836,601 86,087,600  85,698,353 92,681,349 107,971,708 128,948,276
Total Paid Claims 446,964,295 458,372,635 478,901,071 490,254,480 426,871,250 498,569,928 500,583,719
Growth Rate of Paid Claims 20,2% 2,6% 4,5%  2,4% (12,9)% 20.9% 0.4%
Non-Life  Paid Claims (General Insurances) 410,241,246 415,004,519 432,776,259 436,155,116 374,150,400 402,360,347 426,624,234
Life  Paid Claims 36,723,049 43,367,816 46,124,812 54,099,364 52,720,850 89,917,269 73,959,485
Paid Up Capital 267,404,161 265,404,161 266,454,161 271,322,852 272,807,655 250,054,161 250,615,909
Shareholders' Equity 341,558,182 333,014,679 317,160,446 326,136,097 334,580,633 348,387,077 342,628,005
Investments 543,109,109 565,656,646 563,477,298 576,053,581 588,998,174 621,954,317 648,385,454
Net Technical Profit (Loss) Inside Jordan 30,568,909 3,790,195 16,786,544 26,017,270 39,765,823 18,275,240 22,824,753
Net Profit (Loss) (After Tax and Fees) 27,189,203 3,392,865 15,086,272 19,470,944 21,869,271 12,965,086 17,315,233

 

Jordan Insurance Market 2009-2015

 

Year/Details      2009 2010 2011 2012 2013 2014 2015**
Number of Insurance Companies* 28 28 28 28 25 25 24
Total Underwritten Premiums 365,153,256 408,615,426 437,430,746 461,666,655 490,931,905 525,708,175 511,699,789
Growth Rate of Premiums 9,6% 11,9% 7,1% 5,5% 6,3% 7,1% 5,0%
Non-Life Premiums (General Insurances) 330,275,456 370,577,314 369,630,414 417,899,775 443,494,763 472,611,662 490,661,534
Life Premiums 34,877,797 38,038,112 40,800,332 43,766,880 47,437,142 53,096,513 61,038,255
Total Paid Claims 263,403,516 282,104,033 344,934,714 323,042,201 317,028,992 372,917,554 371,770,416
Growth Rate of Paid Claims 18,9% 7,1% 22.30% -6.30% -1.90% 17,6% -0,3%
Non-Life  Paid Claims (General Insurances) 243,938,511 261,732,863 323,566,510 298,777,527 292,521,621 344,374,715 344,558,383
Life  Paid Claims 19,465,005 20,371,170 21,368,204 24,264,674 24,507,371 28,542,839 27,212,033
Paid Up Capital 287,295,477 295,650,680 289,150,680 294,375,680 281,285,750 268,252,408 269,011,890
Shareholders' Equity 357,135,796 352,210,767 313,054,211 305,466,737 316,177,915 330,478,326 326,774,468
Investments 484,550,578 473,875,623 453,794,243 488,638,165 499,750,512 524,584,846 535,738,799
Net Technical Profit (Loss) Inside Jordan 7,210,697 13,992,634 1,186,838- 8,829,118 21,987,593 34,911,556 34,011,510
Net Profit (Loss) (After Tax and Fees) 1,749,076 11,387,771 9,881,607- 1,559,651 18,446,472 32,861,938 22,191,156

 

Jordan Insurance Market 2000-2008

Year/Details      2000 *2001 2002 2003 2004 2005 2006 *2007 2008
Number of Insurance Companies* 27 26 26 26 26 26 26 28 28
Total Underwritten Premiums 104,178,891 120,436,687 146,874,607 171,528,692 191,423,990 219,847,834 258,736,797 291,477,348 333,023,330
Growth Rate of Premiums 4,4% 15,6% 22,0% 16,8% 11,6% 14,8% 17,7% 12,7% 14,3%
Non-Life Premiums (General Insurances) 87,895,060 103,036,891 128,348,244 151,893,836 169,900,093 196,942,206 233,583,048 262,297,337 297,154,942
Life Premiums 16,283,831 17,399,796 18,526,363 19,634,856 21,523,897 22,905,628 25,153,740 29,180,011 35,868,388
Total Paid Claims 67,749,948 79,811,200 86,187,509 108,109,230 123,576,149 142,843,721 174,438,813 207,483,990 221,590,640
Growth Rate of Paid Claims 5,9% 25,3% 8,1% 14,5% 4,7% 10,5% 15,8% 19,0% 6,8%
Non-Life  Paid Claims (General Insurances) 59,901,201 70,100,801 76,168,260 97,965,227 112,130,326 132,568,167 163,492,462 193,489,265 204,765,757
Life  Paid Claims 7,848,747 9,710,399 10,019,249 10,144,003 11,445,823 10,275,554 10,946,351 13,994,725 16,824,883
Paid Up Capital 70,095,700 74,701,865 75,284,000 81,314,000 84,696,000 130,713,554 206,605,477 244,577,300 304,407,585
Shareholders' Equity 84,998,045 88,620,607 96,218,467 124,273,073 160,766,187 277,011,140 284,895,683 327,862,087 356,657,523
Investments 146,700,000 150,575,774 168,969,659 213,956,789 263,591,478 410,149,594 410,299,674 457,088,728 470,539,512
Net Technical Profit (Loss) Inside Jordan 1,189,255 1,175,526 7,989,511 11,021,324 14,455,766 18,455,195 11,508,624 10,493,545 17,484,463
Net Profit (Loss) (After Tax and Fees) 5,166,067 6,894,476 10,104,336 17,201,912 33,282,159 77,212,542 13,352,101 8,082,470 14,058,148
*  The number of Insurance Companies in the year (2001) decreased because (Jordan and Gulf Company) was liquidated.
* The number of Insurance Companies in the year (2007) increased because of registering two new companies (Darkom and MED Gulf) Companies.
* The number of Insurance Companies decreased to be (25) Insurance Companies in the year (2013) because (Gerasa Insurance Company, Al Barakah Takaful Company and Arab German Insurance) were liquidated from the market.
* The figures above represent the operations of 24 insurance companies including (Alyarmouk insurance company which was merged with First insurance company) in 18/11/2015 as its figures were included in the new company after merger and was called SOLIDARITY-First Insurance.