Jordan Insurance Company holds 63rd General Assembly meeting
On Thursday, March 26, Jordan Insurance Company (JIC) held its 63rd annual General Assembly meeting, during which attendees discussed the 2014 Annual Report issued by the company’s board of directors.
With technical profits for the company reaching JD5.2 million last year, the annual report recommended paying cash dividends at a rate of seven percent to shareholders.
Commenting on the results of the report, JIC Managing Director Imad Abdel Khaleq said, “JIC’s financial results from 2014 have yet again served to reaffirm the strength and stability of the company and its leading position in the local insurance industry. In spite of the economic challenges facing the Kingdom, we achieved encouraging technical profits last year, which enabled us to increase the dividends paid to shareholders, compared to the previous year. These positive results reflect the confidence our customers have in the comprehensive services we offer, and drive our own confidence as we look to the future.”
Abdel Khaleq pointed to JIC’s diverse real estate portfolio as evidence of the company’s enduring financial strength, with investments registered at a price of JD17 million currently valued in the market at JD31 million.
The managing director further reassured shareholders that Jordan Insurance Company is keen on keeping up with the latest developments in global insurance offerings.
The company employs its extensive experience in the insurance industry to continuously develop its services for customers in Jordan and abroad.
JIC’s financial strength rating is B++ and its issuer credit rating is BBB+, as reaffirmed by A.M Best, the world’s most authoritative insurance rating and information source. It is worth mentioning that the company was awarded the Jordan Insurer of the Year Award by Mena Insurance Review for the years 2011, 2012, 2013, and 2014 successively. Jordan Insurance Company also operations regionally in Abu Dhabi, Dubai, Sharjah, and Kuwait, and is a trusted stakeholder in a number of insurance companies across the region.
Founded in 1951, JIC offers a comprehensive line-up of insurance services, including marine, engineering, property, motor, life, medical and casualty insurance.
The company has established an extensive network of global partnerships with industry leaders and continues to build its customer base on a foundation of integrity, loyalty, and quality customer care. Jordan Insurance Company also operates in the United Arab Emirates and Kuwait.