AM Best affirms Jordan Insurance Company's rating

AM Best affirmed Jordan Insurance Company's (JIC) financial strength rating of "B" (fair) and long-term credit rating of "bb+" with a stable outlook.

The rating reflects JIC's strong balance sheet, adequate operating performance, neutral business profile and appropriate enterprise risk management.

The rating agency, says the Jordanian insurer's 2017-2021 results are strong. The five-year average combined ratio reached 96.2% and return on equity was set at 2.6%.

The company also benefits from a strong competitive position and was ranked sencond in terms of written premiums in 2020.