Jordan Insurance Industry – Key Trends and Opportunities to 2028
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Jordan Insurance Market Report Overview
The gross written premium of the Jordan insurance market was JOD740.6 million ($1 billion) in 2023. The market is expected to achieve a CAGR of more than 4% during 2024-2028. The Jordan insurance market research report provides in-depth market analysis, information, and insights into the Jordan insurance industry. It provides values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period and forecast period.
Jordan Insurance Market Outlook, 2023-2028 (JOD Million)
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The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Jordan economy and demographics, and provides detailed information on the competitive landscape in the country. The report gives 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.
Market Size (2023) | JOD740.6 million ($1 billion) (GWP) |
CAGR (2024-2028) | >4% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Segments | · Life Insurance
· General Insurance |
Leading Players | · Jordan Insurance
· MetLife · AL-Nisr Al-Arabi · Islamic Insurance · Jerusalem Insurance · Middle East Insurance · Solidarity First Insurance |
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Jordan Insurance Market Trends
A few of the recent trends influencing the Jordan insurance market are digitalization, health insurance, and medical insurance. In October 2023, Gulf Insurance Group launched self-service machines that offer customers insurance services. Customers can inquire about a wide range of services and obtain insurance directly through these devices.
Jordan Insurance Market by Segments
General insurance led the Jordan insurance market in 2023
The key segments in the Jordan insurance market are life insurance and general insurance. In the general insurance sector, motor and PA&H insurance were the leading lines of business with significant market shares.
Jordan Insurance Market Analysis by Segments, 2023 (%)
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Jordan Insurance Market – Competitive Landscape
Jordan Insurance led the Jordan insurance market in 2022
The key companies in the Jordan insurance market are:
- Jordan Insurance
- MetLife
- AL-Nisr Al-Arabi
- Islamic Insurance
- Jerusalem Insurance
- Middle East Insurance
- Solidarity First Insurance
Jordan Insurance Market Analysis by Players, 2022 (%)
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Segments Covered in the Report
Jordan Insurance Market Segments Outlook (Value, JOD Million, 2019-2028)
- Life Insurance
- General Insurance
Scope
This report provides a comprehensive analysis of the Jordan insurance industry –
- It provides historical values for the Jordan insurance industry for the report’s 2019–23 review period and projected figures for the 2024–28 forecast period.
- It offers a detailed analysis of the key categories in the Jordan insurance industry and market forecasts for 2027.
- It profiles the top life insurance companies in Jordan and outlines the key regulations affecting them.
Key Highlights
- Key insights and dynamics of the Jordan insurance industry.
- A comprehensive overview of the Jordanian economy, government initiatives, and investment opportunities.
- The Jordan insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
- The Jordan insurance industry’s market structure gives details of lines of business.
- Jordan’s reinsurance business’s market structure gives details of premium ceded along with cession rates.
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Jordan insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Jordan insurance industry.
- Assess the competitive dynamics in the Jordan insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Middle East Insurance Company
Solidarity First Insurance Company
MetLife
Jordan Insurance
Euro Arab Insurance Group
AL-Nisr Al-Arabi Insurance
Jordan French Insurance Company
Table of Contents
Frequently asked questions
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What was the Jordan insurance market gross written premium in 2023?
The gross written premium of the Jordan insurance market was JOD740.6 million ($1 billion) in 2023.
-
What is the growth rate of the Jordan insurance market?
The insurance market in Jordan is expected to achieve a CAGR of more than 4% during 2023-2027.
-
Which segment dominated the Jordan insurance market in 2023?
The general insurance segment dominated the Jordan insurance market in 2023.
-
Who are the major players operating in the Jordan insurance market?
The key companies in the Jordan insurance market are Jordan Insurance, MetLife, AL-Nisr Al-Arabi, Islamic Insurance, Jerusalem Insurance, Middle East Insurance, and Solidarity First Insurance.
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