Although the motor market has been a key priority for the Insurance Commission (IC) of Jordan, it has not neglected the other areas, including life & pensions, compulsory insurance and the current RBC regime. Mrs Rana Tahboub, recently confirmed as Director General of the authority, elaborates on the IC’s plans while calling on insurers to develop products to cater to various social segments and to pay more attention to their core business.
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The sector’s profitability is a big concern and the future of the market remains unclear, says Mr Imad Abdel Khaleq, Managing Director, Jordan Insurance Co (JIC).
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Arab Orient Insurance Co (AOIC) has maintained its market leadership and is one of the few profitable insurers in Jordan. CEO Isam Abdelkhaliq explains its strategy.
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For First Insurance Co (FIC), becoming one of the top five insurers in less than five years shows that the market rewards serious players, says Dr Ali Al Wazani, CEO.
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Giving up its motor business has enabled Al-Nisr Al-Arabi Insurance Co to focus on better-performing lines like life, says Mr Yacoub Sabella, General Manager.
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The Insurance Commission (IC) should revisit the regulations for intermediaries to safeguard the market and improve the profession, says Mr Zuhair Al Atout, CEO, Apex Insurance, Reinsurance & Consultancy.
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