First Insurance Company (FIC) displays good performance in 2016

Jordanian insurer, First Insurance Company’s entry into the capital of its counterpart Yarmouk Insurance turned out to be beneficial. In 2016, FIC reported 2.1 million JOD (3 million USD) in net result, up by 61.5% in comparison with the 1.3 million JOD (1.8 million USD) reported in 2015.

The company’s turnover amounted to 37.7 million JOD (53.4 million USD) in 2016, thus posting a 9% increase in comparison with the previous year.

Combined ratio has reported a slight deterioration, rising from 93% in 2015 to 93.2% one year later.

For the record, FIC acquired in 2015 a majority stake in the capital of Yarmouk Insurance Company.

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• The insurance industry in Jordan