Affirmation of credit ratings granted to Jordan Insurance Company Plc by AM Best.
Jordan Insurance Company Plc Maintains Fair Ratings from AM Best
In a recent announcement, AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb+" (Fair) for Jordan Insurance Company Plc (JIC). The affirmation, which took place on July 14, 2025, reflects JIC's moderate financial strength and ability to meet ongoing insurance obligations.
The ratings suggest that JIC's current financial status and operating performance are stable but with moderate risk. Ghislain Le Cam, CFA, FRM, Senior Director of Analytics at AM Best, and Marving Lopez, Financial Analyst at AM Best, are the key contacts for further information ([email protected] and [email protected] respectively, or 44 20 7397 0268 and 44 20 7397 4389). Al Slavin, Senior Public Relations Specialist at AM Best, is also available for queries at [email protected] or 1 908 882 2318.
A B rating from AM Best typically indicates a fair ability to meet policyholder obligations, which is below stronger ratings like A or A-. The rating affirmation does not provide a detailed breakdown of JIC’s specific risk exposures or enterprise risk management, but it is consistent with AM Best's general practice where companies rated B exhibit fair but not robust financial profiles and potentially some vulnerability to adverse economic or insurance market conditions.
JIC's balance sheet strength is assessed as strong by AM Best, with a moderately high reinsurance dependence for large property and commercial risks being partially mitigated by a stable reinsurance panel of good credit quality. JIC's insurance services revenue is well-diversified across a range of life and non-life business lines in Jordan.
JIC consistently ranks second based on gross written premiums in Jordan's insurance market and has a track record of adequate operating performance, with return-on-equity ratios of approximately 4% over the last five years. In 2024, JIC reported a net profit of JOD 2.3 million, primarily due to the profitability of its life portfolio.
The press release about Jordan Insurance Company Plc (JIC) was issued by Business Wire, and general inquiries or press requests about the press release can be sent to [email protected]. Christopher Sharkey, Associate Director of Public Relations at AM Best, is another contact for further information ([email protected] or 1 908 882 2310).
It's worth noting that a partially offsetting rating factor for JIC is its significant holdings of illiquid equity and real estate asset classes. The outlook of these ratings is stable.
In summary, Jordan Insurance Company Plc holds a B (Fair) rating from AM Best as of July 2025, reflecting moderate financial strength and a risk profile that is stable but not strong relative to higher-rated peers. The company's strong balance sheet strength, diversified revenue, and stable reinsurance panel are partially offset by its significant holdings of illiquid assets and moderate reinsurance dependence for large property and commercial risks.
The affirmation of Jordan Insurance Company Plc's ratings by AM Best in July 2025 indicates a stable but moderate financial status and operating performance, demonstrating a fair ability to meet policyholder obligations. This rating is reflected in the cloud of global financial news, impacting the business sector.
Despite the moderately high reinsurance dependence for large property and commercial risks, JIC's strong balance sheet strength, diversified revenue, and stable reinsurance panel are significant aspects that contribute to its performance in the financial market, particularly in Jordan's insurance business.
