Personal Accident and Health Insurance in Jordan, Key Trends and Opportunities to 2021

Publisher Name :
Date: 29-Jan-2018
No. of pages: 77
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Synopsis

Timetric's 'Personal Accident and Health Insurance in Jordan Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Jordanian personal accident and health insurance segment, and a comparison of the Jordanian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Jordanian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's 'Personal Accident and Health Insurance in Jordan Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Jordanian personal accident and health insurance segment, including:

• An overview of the Jordanian personal accident and health insurance segment

• The Jordanian personal accident and health insurance segment's growth prospects by category

• A comprehensive overview of the Jordanian economy and demographics

• A comparison of the Jordanian personal accident and health insurance segment with its regional counterparts

• The various distribution channels in the Jordanian personal accident and health insurance segment

• Details of the competitive landscape in the personal accident and health insurance segment in Jordan

• Details of regulatory policy applicable to the Jordanian insurance industry

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Jordan:

• It provides historical values for the Jordanian personal accident and health insurance segment for the report's 2012-2016 review period, and projected figures for the 2016-2021 forecast period.

• It offers a detailed analysis of the key categories in the Jordanian personal accident and health insurance segment, and market forecasts to 2021.

• It provides a comparison of the Jordanian personal accident and health insurance segment with its regional counterparts

• It provides an overview of the various distribution channels for personal accident and health insurance products in Jordan.

• It profiles the top personal accident and health insurance companies in Jordan, and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Jordanian personal accident and health insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Jordanian personal accident and health insurance segment.

• Assess the competitive dynamics in the personal accident and health insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Jordanian insurance industry, and their impact on companies and the industry's future.

Key Highlights

• The personal accident and health segment accounted for 31.3% of the Jordanian insurance industry in 2016.

• In May 2017, Arab Orient launched the Medical Accounts Management Department to analyze and oversee medical insurance contracts, with an aim to make the contracts less risky, more viable and more profitable.

• On May 2016, Jordan Insurance launched new policies to protect employers and provide healthcare for domestic workers by insuring them against financial losses occurring from runaway domestic workers.

Personal Accident and Health Insurance in Jordan, Key Trends and Opportunities to 2021

Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
5 Outlook by Category
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Claims
5.1.3 Profitability
5.2 Health Insurance
5.2.1 Premium
5.2.2 Claims
5.2.3 Profitability
6 Distribution Channel Outlook
7 Competitive Landscape
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Workers' compensation insurance
8.4.3 Liability insurance for ships with respect to oil pollution
8.4.4 Aviation liability insurance
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Insurance Directorate
8.5.3 Jordan Insurance Federation
8.6 Non-Admitted Insurance Regulation
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution (ADR)
9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Personal Accident Insurance
9.4 Health Insurance
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer

List of Tables
Table 1: Jordanian Personal Accident and Health Insurance - Key Facts, 2016
Table 2: Jordanian Personal Accident and Health Segment - Leading Insurers (%), 2016
Table 3: Jordanian Government Credit Ratings
Table 4: Jordanian Personal Accident and Health Insurance - Gross Written Premium (JOD Million and US$ Million), 2012-2016
Table 5: Jordanian Personal Accident and Health Insurance - Penetration (%), 2012-2016
Table 6: Jordanian Personal Accident and Health Insurance - Gross Written Premium (JOD Million and US$ Million), 2016-2021
Table 7: Jordanian Personal Accident and Health Insurance - Penetration (%), 2016-2021
Table 8: Jordanian Personal Accident and Health Insurance - Premium per Capita (JOD and US$), 2012-2016
Table 9: Jordanian Personal Accident and Health Insurance - Premium per Capita (JOD and US$), 2016-2021
Table 10: Jordanian Personal Accident and Health Insurance - Paid Claims (JOD Million and US$ Million), 2012-2016
Table 11: Jordanian Personal Accident and Health Insurance - Paid Claims (JOD Million and US$ Million), 2016-2021
Table 12: Jordanian Personal Accident and Health Insurance - Profitability Ratio (%), 2012-2016
Table 13: Jordanian Personal Accident and Health Insurance - Profitability Ratio (%), 2016-2021
Table 14: Jordanian Personal Accident and Health Insurance - Direct Written Premium by Category (JOD Million), 2012-2016
Table 15: Jordanian Personal Accident and Health Insurance - Direct Written Premium by Category (JOD Million), 2016-2021
Table 16: Jordanian Personal Accident Insurance - Direct Written Premium (JOD Million and US$ Million), 2012-2016
Table 17: Jordanian Personal Accident Insurance - Direct Written Premium (JOD Million and US$ Million), 2016-2021
Table 18: Jordanian Personal Accident Insurance - Paid Claims (JOD Million and US$ Million), 2012-2016
Table 19: Jordanian Personal Accident Insurance - Paid Claims (JOD Million and US$ Million), 2016-2021
Table 20: Jordanian Personal Accident Insurance - Loss Ratio (%), 2012-2016
Table 21: Jordanian Personal Accident Insurance - Loss Ratio (%), 2016-2021
Table 22: Jordanian Health Insurance - Direct Written Premium (JOD Million and US$ Million), 2012-2016
Table 23: Jordanian Health Insurance - Direct Written Premium (JOD Million and US$ Million), 2016-2021
Table 24: Jordanian Health Insurance - Paid Claims (JOD Million and US$ Million), 2012-2016
Table 25: Jordanian Health Insurance - Paid Claims (JOD Million and US$ Billion), 2016-2021
Table 26: Jordanian Health Insurance - Loss Ratio (%), 2012-2016
Table 27: Jordanian Health Insurance - Loss Ratio (%), 2016-2021
Table 28: Jordanian Personal Accident and Health Segment - Leading Insurers (%), 2016
Table 29: Jordan - Insurance Regulatory Framework Key Features
Table 30: Jordan - Life Insurance Regulatory Framework
Table 31: Jordan - Property Insurance Regulatory Framework
Table 32: Jordan - Motor Insurance Regulatory Framework
Table 33: Jordan - Liability Insurance Regulatory Framework
Table 34: Jordan - Minimum Cover for Aircraft Public Liability Per Accident Per Aircraft
Table 35: Jordan - Minimum Capital Requirements
Table 36: Jordan - Corporate Tax Rates for the Financial Year 2016
Table 37: Jordanian Personal Accident and Health Insurance Industry - Policies and Premium, 2012-2016
Table 38: Jordanian Personal Accident and Health Insurance Industry - Policies and Premium, 2016-2021
Table 39: Jordanian Personal Accident and Health Insurance - Claims and Expenses, 2012-2016
Table 40: Jordanian Personal Accident and Health Insurance - Claims and Expenses, 2016-2021
Table 41: Jordanian Personal Accident and Health Insurance - Personal Accident Insurance, 2012-2016
Table 42: Jordanian Personal Accident and Health Insurance - Personal Accident Insurance, 2016-2021
Table 43: Jordanian Personal Accident and Health Insurance - Health Insurance, 2012-2016
Table 44: Jordanian Personal Accident and Health Insurance - Health Insurance, 2016-2021
Table 45: Insurance Industry Definitions

List of Figures
Figure 1: Jordanian Real GDP (JOD Billion), 2012-2021
Figure 2: Jordanian Inflation Rate, 2012-2021
Figure 3: Jordanian Current Account Balance, 2012-2016
Figure 4: Jordanian Unemployment Rate, 2012-2021
Figure 5: Jordanian Population by Age Group, 1994-2025
Figure 6: Jordanian Insurance Segment By Direct Written Premium Shares - Regional Comparison (%), 2016
Figure 7: Jordanian Insurance Segment By Direct Written Premium Shares - Regional Comparison (%), 2016
Figure 8: Jordanian Personal Accident and Health Insurance - Gross Written Premium (JOD Million), 2012-2021
Figure 9: Jordanian Personal Accident and Health Insurance - Penetration (%), 2012-2021
Figure 10: Jordanian Personal Accident and Health Insurance - Premium per Capita (JOD), 2012-2021
Figure 11: Jordanian Personal Accident and Health Insurance - Paid Claims (JOD Million), 2012-2021
Figure 12: Jordanian Personal Accident and Health Insurance - Direct Written Premium by Category (JOD Million), 2012-2021
Figure 13: Jordanian Personal Accident and Health Insurance - Direct Written Premium Dynamics by Category, 2012-2021
Figure 14: Jordanian Personal Accident Insurance - Direct Written Premium (JOD Million), 2012-2021
Figure 15: Jordanian Personal Accident Insurance - Paid Claims (JOD Million), 2012-2021
Figure 16: Jordanian Personal Accident Insurance - Earned Premium, Incurred Loss and Loss Ratio (JOD Million and %), 2012-2021
Figure 17: Jordanian Health Insurance - Direct Written Premium (JOD Million), 2012-2021
Figure 18: Jordanian Health Insurance - Paid Claims (JOD Million), 2012-2021
Figure 19: Jordanian Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (JOD Million and %), 2012-2021
Figure 20: Jordan - Insurance Supervision and Control at Various Levels
Figure 21: Jordan - Insurance Regulatory Frameworks for Company Registration and Operation
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