Insurance

The country’s insurance sector is continuing to see steady growth despite difficult economic conditions and the burden of underwriting unprofitable motor insurance. In 2011 demand increased across all segments, particularly medical, fire and life. Indeed, the life insurance segment is seen as having one of the highest potentials for growth, due to its relatively low penetration compared to other products. Takaful uptake is also expected to see expansion, due to increased public interest in sharia-compliant models. However, the market for health insurance has seen lower profits, due to rising costs and increasing competition forcing a reduction in premiums. This chapter includes an interview with Othman M Bdeir, Chairman of the Jordan Insurance Federation.