Jordan: Islamic Insurance profit rises by 13% in 2024

Source: Middle East Insurance Review | Mar 2025

The Islamic Insurance Company (TIIC) reported satisfactory financial results by the end of 2024. The operator’s preliminary results show that shareholders’ profits before tax reached JOD2.9m ($4m), compared to JOD2.55m in the preceding year, a growth rate of about 13%, said the takaful operator in a press release.

Gross written contributions in 2024 reached around JOD37.5m, up from JOD34.5m in the past year. Total assets for 2024 amounted to about JOD52m compared to about JOD48m in 2023, a growth rate of 8%, while shareholders’ equity amounted to about JOD23.6mversus JOD23.1m, or 143% of the company’s capital.

TIIC chairman Issa Murad said that the company’s board of directors approved the balance sheet and final statements and recommended to distribute cash dividends to shareholders for 2024 at 10% of the company’s capital, distributed from retained profits.

TIIC was established in 1996 as the first shariah-compliant insurer in Jordan. There are another two takaful operators in the market. M

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