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Non-Life Insurance in Jordan, Key Trends and Opportunities to 2021

Non-Life Insurance in Jordan, Key Trends and Opportunities to 2021

Synopsis

Timetric’s 'Non-Life Insurance in Jordan Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Jordanian non-life insurance segment, and a comparison of the Jordanian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2012–2016) and forecast period (2016–2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Jordanian economy and demographics, explains the various types of natural hazard and their impact on the Jordanian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Non-Life Insurance in Jordan Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Jordanian non-life insurance segment, including:

  • The Jordanian non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Jordanian economy and demographics
  • A comparison of the Jordanian non-life insurance segment with its regional counterparts
  • The various distribution channels in the Jordanian non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Jordanian insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Jordan
  • Details of regulatory policy applicable to the Jordanian insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Jordan:
  • It provides historical values for the Jordanian non-life insurance segment for the report’s 2012–2016 review period, and projected figures for the 2016–2021 forecast period.
  • It offers a detailed analysis of the key categories in the Jordanian non-life insurance segment, and market forecasts to 2021.
  • It provides a comparison of the Jordanian non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Jordan.
  • It analyzes various natural hazards and their impact on the Jordanian insurance industry
  • It profiles the top non-life insurance companies in Jordan, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Jordanian non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Jordanian non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Jordanian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • In October 2017, a draft law was prepared by the Central Bank of Jordan (CBJ) and the Ministry of Industry, Trade and Supply to establish a framework through which the Central Bank will supervise the insurance industry in Jordan.
  • In 2016, the government of Jordan decided to exempt insurers undergoing mergers from tax.
  • In February 2016, the Jordanian Cabinet assigned the regulation of the insurance industry to the CBJ. In October 2017, however, a draft law was prepared by CBJ and the Ministry of Industry, Trade and Supply to establish a framework through which Central Bank will supervise the Jordanian insurance industry.
  • Motor insurance was the largest non-life category, accounting for 68.3% of the segment’s direct written premium in 2016.


  • Key Facts and Highlights
    • Table Jordanian Non-Life Insurance – Key Facts, 2016
    • Table Jordanian Non-Life Insurance – Segment Shares of the Top Insurers, 2016
  • Executive Summary
  • Economy and Demographics
    • Table Jordanian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Jordanian Non-Life Insurance – Gross Written Premium (JOD Million and US$ Million), 2012–2016
        • Table Jordanian Non-Life Insurance – Penetration (%), 2012–2016
        • Table Jordanian Non-Life Insurance – Gross Written Premium (JOD Million and US$ Million), 2016–2021
        • Table Jordanian Non-Life Insurance – Penetration (%), 2016–2021
        • Table Jordanian Non-Life Insurance – Premium per Capita (JOD and US$), 2012–2016
        • Table Jordanian Non-Life Insurance – Premium per Capita (JOD and US$), 2016–2021
      • Claims
        • Table Jordanian Non-Life Insurance – Paid Claims (JOD Million and US$ Million), 2012–2016
        • Table Jordanian Non-Life Insurance – Paid Claims (JOD Million and US$ Million), 2016–2021
      • Profitability
        • Table Jordanian Non-Life Insurance – Profitability Ratio (%), 2012–2016
        • Table Jordanian Non-Life Insurance – Profitability Ratio (%), 2016–2021
  • Outlook by Category
    • Table Jordanian Non-Life Insurance – Direct Written Premium by Category (JOD Million), 2012–2016
    • Table Jordanian Non-Life Insurance – Direct Written Premium by Category (JOD Million), 2016–2021
    • Table Jordanian Non-Life Insurance – Direct Written Premium by Category (JOD Million), 2012–2021
    • Property Insurance
      • Product overview
      • Premium
        • Table Jordanian Property Insurance – Direct Written Premium (JOD Million and US$ Million), 2012–2016
        • Table Jordanian Property Insurance – Direct Written Premium (JOD Million and US$ Million), 2016–2021
      • Claims
        • Table Jordanian Property Insurance – Paid Claims (JOD Million and US$ Million), 2012– 2016
        • Table Jordanian Property Insurance – Paid Claims (JOD Million and US$ Million), 2016–2021
      • Profitability
        • Table Jordanian Property Insurance – Loss Ratio (%), 2012–2016
        • Table Jordanian Property Insurance – Loss Ratio (%), 2016–2021
    • Motor Insurance
      • Product overview
      • Premium
        • Table Jordanian Motor Insurance – Direct Written Premium by Sub-Category (JOD Million), 2012–2016
        • Table Jordanian Motor Insurance – Direct Written Premium by Sub-Category (JOD Million), 2016–2021
      • Claims
        • Table Jordanian Motor Insurance – Paid Claims (JOD Million and US$ Million), 2012–2016
        • Table Jordanian Motor Insurance – Paid Claims (JOD Million and US$ Million), 2016–2021
      • Profitability
        • Table Jordanian Motor Insurance – Loss Ratio (%), 2012–2016
        • Table Jordanian Motor Insurance – Loss Ratio (%), 2016–2021
    • Liability Insurance
      • Product overview
      • Premium
        • Table Jordanian Liability Insurance – Direct Written Premium (JOD Million and US$ Million), 2012–2016
        • Table Jordanian Liability Insurance – Direct Written Premium (JOD Million and US$ Million), 2016–2021
      • Claims
        • Table Jordanian Liability Insurance – Paid Claims (JOD thousands and US$ thousands), 2012–2016
        • Table Jordanian Liability Insurance – Paid Claims (JOD thousands and US$ thousands), 2016–2021
      • Profitability
        • Table Jordanian Liability Insurance – Loss Ratio (%), 2012–2016
        • Table Jordanian Liability Insurance – Loss Ratio (%), 2016–2021
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Jordanian Transport Network – Global Rankings
      • Premium
        • Table Jordanian Marine, Aviation and Transit Insurance – Direct Written Premium (JOD Million and US$ Million), 2012–2016
        • Table Jordanian Marine, Aviation and Transit Insurance – Direct Written Premium (JOD Million and US$ Million), 2016–2021
      • Claims
        • Table Jordanian Marine, Aviation and Transit Insurance – Paid Claims (JOD thousands and US$ thousands), 2012–2016
        • Table Jordanian Marine, Aviation and Transit Insurance – Paid Claims (JOD thousands and US$ thousands), 2016–2021
      • Profitability
        • Table Jordanian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2012–2016
        • Table Jordanian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2016–2021
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Flooding
    • Droughts
    • Landslides
    • Earthquakes
    • Snowstorms
    • Wildfires
    • Man-made Hazards
    • Exposure
  • Competitive Landscape
    • Table Jordanian Non-Life Segment – Market Shares of Leading Insurers (%), 2016
    • Company Profiles
      • Arabia Insurance Company – company overview
        • Table Arabia Insurance – Key Facts
        • Table Arabia Insurance Company – Key Financials (JOD Million), 2012–2016
      • Jordan Insurance Company – company overview
        • Table Jordan Insurance Company – Key Facts
        • Table Jordan Insurance Company – Key Financials (JOD Million), 2012–2016
      • Arab Jordanian Insurance Group – company overview
        • Table Arab Jordanian Insurance Group – Key Facts
        • Table Arab Jordanian Insurance Group – Key Financials (JOD Million), 2012–2016
      • National Insurance Company – company overview
        • Table National Insurance Company – Key Facts
        • Table National Insurance Company – Key Financials (JOD Million), 2012–2016
      • AL-Nisr Al-Arabi Insurance Company – company overview
        • Table AL-Nisr Al-Arabi Insurance Company – Key Facts
        • Table AL-Nisr Al-Arabi Insurance Company – Key Financials (JOD Million), 2012–2016
  • Governance, Risk and Compliance
    • Table Jordan – Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Jordan – Life Insurance Regulatory Framework
      • Property insurance
        • Table Jordan – Property Insurance Regulatory Framework
      • Motor insurance
        • Table Jordan – Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Jordan – Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Workers' compensation insurance
      • Liability insurance for ships with respect to oil pollution
      • Aviation liability insurance
        • Table Jordan – Minimum Cover for Aircraft Public Liability Per Accident Per Aircraft
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Insurance Directorate
      • Jordan Insurance Federation
    • Non-Admitted Insurance Regulation
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
        • Table Jordan – Minimum Capital Requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Jordan – Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Jordanian Insurance Industry – Policies and Premium, 2012–2016
      • Table Jordanian Insurance Industry – Policies and Premium, 2016–2021
    • Claims and Expenses
      • Table Jordanian Non-Life Insurance – Claims and Expenses, 2012–2016
      • Table Jordanian Non-Life Insurance – Claims and Expenses, 2016–2021
    • Property Insurance
      • Table Jordanian Non-Life Insurance – Property Insurance, 2012–2016
      • Table Jordanian Non-Life Insurance – Property Insurance, 2016–2021
    • Motor Insurance
      • Table Jordanian Non-Life Insurance – Motor Insurance, 2012–2016
      • Table Jordanian Non-Life Insurance – Motor Insurance, 2016–2021
    • Motor Insurance by Product
      • Table Jordanian Non-Life Insurance – Motor Insurance by Product, 2012–2016
      • Table Jordanian Non-Life Insurance – Motor Insurance by Product, 2016–2021
    • Liability Insurance
      • Table Jordanian Non-Life Insurance – Liability Insurance, 2012–2016
      • Table Jordanian Non-Life Insurance – Liability Insurance, 2016–2021
    • Marine, Aviation and Transit Insurance
      • Table Jordanian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2012–2016
      • Table Jordanian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2016–2021
    • Financial Lines
      • Table Jordanian Non-Life Insurance – Financial Lines, 2012–2016
      • Table Jordanian Non-Life Insurance – Financial Lines, 2016–2021
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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