Non-Life Insurance in Jordan, Key Trends and Opportunities to 2019

Published: Mar, 2016 | Pages: 99 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
Timetric's 'Non-Life Insurance in Jordan, Key Trends and Opportunities to 2019' 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 (2010-2014) and forecast period (2014-2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of 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 2019' report provides in-depth market analysis, information and insights into the Jordanian non-life insurance segment, including:

 The Jordanian non-life insurance segment's detailed outlook by product category

 A comprehensive overview of the Jordanian economy and demographics

 A comparison of the Jordanian insurance industry with regional counterparts

 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 2010-2014 review period, and projected figures for the 2014-2019 forecast period.

 It offers a detailed analysis of the key categories in the Jordanian non-life insurance segment, and market forecasts to 2019.

 It analyzes the various distribution channels for non-life insurance products in Jordan.

 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
 Motor insurance was the largest category, which accounted for 66.9% of the segment's gross written premium in 2014. 

 Cover against fire and perils and natural catastrophes exists in Jordan, but there is no agriculture insurance in the country. 

 Liability insurance was the smallest category in 2014, accounting for 2.1% of the segment's gross written premium. 

 Agencies accounted for 64.8% of the total non-life segment's direct written premium in 2014, while brokers accounted for the remaining 35.2%. 

 Jordan's non-life insurance segment is fragmented, with the 10 leading insurers accounting for 63.5% of the total gross written premium in 2014, while 15 small insurers held the remaining 36.5%.

 Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Claims
5.2.4 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Claims
5.4.4 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies and insurance brokers
6.1.2 Direct marketing
6.1.3 E-commerce
6.1.4 Bancassurance
7 Natural Hazards
7.1 Earthquakes
7.2 Flooding
7.3 Drought
7.4 Snowstorm
7.5 Exposure
8 Competitive Landscape
8.1 Company Rankings
8.2 Comparison of the Top Five Insurers
8.2.1 Gross written premium
8.3 Company Profiles
8.3.1 Arab Orient Insurance Company - company overview
8.3.2 Jordan Insurance Company - company overview
8.3.3 Middle East Insurance Company - company overview
8.3.4 National Insurance Company PSC - company overview
8.3.5 First Insurance Company - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Workers' compensation insurance
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Insurance Commission
9.5.3 Jordan Insurance Federation (JIF)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Jordanian Non-Life Insurance - Key Facts, 2014
Table 2: Jordanian Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Jordanian Government Credit Ratings
Table 4: Jordanian Non-Life Insurance - Gross Written Premium (JOD Million and US$ Million), 2010-2014
Table 5: Jordanian Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Jordanian Non-Life Insurance - Gross Written Premium (JOD Million and US$ Million), 2014-2019
Table 7: Jordanian Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Jordanian Non-Life Insurance - Premium per Capita (JOD and US$), 2010-2014
Table 9: Jordanian Non-Life Insurance - Premium per Capita (JOD and US$), 2014-2019
Table 10: Jordanian Non-Life Insurance - Paid Claims (JOD Million and US$ Million), 2010-2014
Table 11: Jordanian Non-Life Insurance - Paid Claims (JOD Million and US$ Million), 2014-2019
Table 12: Jordanian Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Jordanian Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Jordanian Non-Life Insurance - Total Assets (JOD Million and US$ Million), 2010-2014
Table 15: Jordanian Non-Life Insurance - Total Assets (JOD Million and US$ Million), 2014-2019
Table 16: Jordanian Non-Life Insurance - Total Investment Income (JOD Million and US$ Million), 2010-2014
Table 17: Jordanian Non-Life Insurance - Total Investment Income (JOD Million and US$ Million), 2014-2019
Table 18: Jordanian Non-Life Insurance - Investment Portfolio (JOD Million), 2010-2014
Table 19: Jordanian Non-Life Insurance - Investment Portfolio (JOD Million), 2014-2019
Table 20: Jordanian Non-Life Insurance - Gross Written Premium by Category (JOD Million), 2010-2014
Table 21: Jordanian Non-Life Insurance - Gross Written Premium by Category (JOD Million), 2014-2019
Table 22: Jordanian Property Insurance - Gross Written Premium by Sub-Category (JOD Million), 2010-2014
Table 23: Jordanian Property Insurance - Gross Written Premium by Sub-Category (JOD Million), 2014-2019
Table 24: Jordanian Property Insurance - Paid Claims (JOD Million and US$ Million), 2010-2014
Table 25: Jordanian Property Insurance - Paid Claims (JOD Million and US$ Million), 2014-2019
Table 26: Jordanian Property Insurance - Loss Ratio (%), 2010-2014
Table 27: Jordanian Property Insurance - Loss Ratio (%), 2014-2019
Table 28: Jordanian Motor Insurance - Gross Written Premium by Sub-Category (JOD Million), 2010-2014
Table 29: Jordanian Motor Insurance - Gross Written Premium by Sub-Category (JOD Million), 2014-2019
Table 30: Jordanian Motor Insurance - Paid Claims (JOD Million and US$ Million), 2010-2014
Table 31: Jordanian Motor Insurance - Paid Claims (JOD Million and US$ Million), 2014-2019
Table 32: Jordanian Motor Insurance - Loss Ratio (%), 2010-2014
Table 33: Jordanian Motor Insurance - Loss Ratio (%), 2014-2019
Table 34: Jordanian Liability Insurance - Gross Written Premium (JOD Million), 2010-2014
Table 35: Jordanian Liability Insurance - Gross Written Premium (JOD Million), 2014-2019
Table 36: Jordanian Liability Insurance - Paid Claims (JOD Thousands and US$ Thousands), 2010-2014
Table 37: Jordanian Liability Insurance - Paid Claims (JOD Thousands and US$ Thousands), 2014-2019
Table 38: Jordanian Liability Insurance - Loss Ratio (%), 2010-2014
Table 39: Jordanian Liability Insurance - Loss Ratio (%), 2014-2019
Table 40: Jordanian Motor Insurance - Gross Written Premium by Sub-Category (JOD Million), 2010-2014
Table 41: Jordanian Motor Insurance - Gross Written Premium by Sub-Category (JOD Million), 2014-2019
Table 42: Jordanian Marine, Aviation and Transit Insurance - Paid Claims (JOD Thousands and US$ Thousands), 2010-2014
Table 43: Jordanian Marine, Aviation and Transit Insurance - Paid Claims (JOD Thousands and US$ Thousands), 2014-2019
Table 44: Jordanian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 45: Jordanian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 46: Jordanian Non-Life Insurance - Direct Written Premium by Distribution Channel (JOD Million), 2010-2014
Table 47: Jordanian Non-Life Insurance - Direct Written Premium by Distribution Channel (JOD Million), 2014-2019
Table 48: Jordanian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010-2019
Table 49: Top Natural Hazards in Jordan by Number of Deaths, 1990-2014
Table 50: Jordanian Non-Life Insurance - Number of Intermediaries and Supplementary Service Providers, 2014
Table 51: Jordanian Non-Life Insurance - Shares of Top Insurers (%), 2014
Table 52: Arab Orient Insurance Company - Key Facts
Table 53: Arab Orient Insurance Company - Key Financials (JOD Million)
Table 54: Jordan Insurance Company - Key Facts
Table 55: Jordan Insurance Company - Key Financials (JOD Million)
Table 56: Middle East Insurance Company - Key Facts
Table 57: Middle East Insurance Company- Key Financials (JOD Million)
Table 58: National Insurance Company PSC - Key Facts
Table 59: National Insurance Company PSC - Key Financials (JOD Million)
Table 60: First Insurance Company - Key Facts
Table 61: First Insurance Company - Key Financials (JOD Million)
Table 62: Jordan - Insurance Regulatory Framework Key Features
Table 63: Jordan - Life Insurance Regulatory Framework
Table 64: Jordan - Property Insurance Regulatory Framework
Table 65: Jordan - Motor Insurance Regulatory Framework
Table 66: Jordan - Liability Insurance Regulatory Framework
Table 67: Jordan - Minimum Capital Requirements
Table 68: Jordan - Corporate Tax Rates for the Financial Year 2015
Table 69: Jordanian Insurance Industry - Policies and Premium, 2010-2014
Table 70: Jordanian Insurance Industry - Policies and Premium, 2014-2019
Table 71: Jordanian Non-Life Insurance - Policies and Premium, 2010-2014
Table 72: Jordanian Non-Life Insurance - Policies and Premium, 2014-2019
Table 73: Jordanian Non-Life Insurance - Property Insurance Policies and Premium, 2010-2014
Table 74: Jordanian Non-Life Insurance - Property Insurance Policies and Premium, 2014-2019
Table 75: Jordanian Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
Table 76: Jordanian Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
Table 77: Jordanian Non-Life Insurance - Liability Insurance Policies and Premium, 2010-2014
Table 78: Jordanian Non-Life Insurance - Liability Insurance Policies and Premium, 2014-2019
Table 79: Jordanian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2010-2014
Table 80: Jordanian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2014-2019
Table 81: Jordanian Non-Life Insurance - Gross Written Premium by Sub-Category (JOD Million), 2010-2014
Table 82: Jordanian Non-Life Insurance - Gross Written Premium by Sub-Category (JOD Million), 2014-2019
Table 83: Jordanian Non-Life Insurance - Direct Written Premium by Sub-Category (JOD Million), 2010-2014
Table 84: Jordanian Non-Life Insurance - Direct Written Premium by Sub-Category (JOD Million), 2014-2019
Table 85: Jordanian Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
Table 86: Jordanian Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
Table 87: Insurance Industry Definitions