Jordan Insurance Report - Business Monitor International - Industry Reports

Jordan Insurance Report

Jordan Insurance Report - Business Monitor International - Industry Reports
Jordan Insurance Report
Published Aug 30, 2016
50 pages — Published Aug 30, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

As noted above, the life insurance sector in Jordan is underdeveloped, with penetration (premiums relative to GDP) of just -.- (in ----). The sector is, however, growing rapidly, and gross life premiums are forecast to grow by, on average, -.- per year throughout the forecast period to reach USD---mn in ----, up from USD--mn in ----. This growth will be achieved mainly by leading life insurers (and, in particular, those that are foreign owned) developing new products for, and/or offering riders to, existing clients. Constraints such as the local insurers lack of size and know-how, the underdevelopment of local financial markets, low household incomes and the widespread lack of understanding of the benefits of life insurance will continue to make it challenging for the insurers to reach new clients. The life insurance industry will remain hampered by Jordan s demographic profile. ...This percentage is rising, but is unlikely to rise above -.- at the end of the forecast period.

...Life insurance is underdeveloped in Jordan, and the country s life insurers currently account for a little less than -- of all premiums written in the insurance sector. The vast bulk of premiums will continue to be written in the non-life sector. There are numerous structural constraints facing the life sector in Jordan. These include high unemployment rates, particularly among the large youth population in Jordan, where around -- of the population is under the age of --. The predominantly young population also reduces demand for life insurance products, particularly later in life and retirement products. ...The predominantly young population also reduces demand for life insurance products, particularly later in life and retirement products. Major economic challenges in the country, including the large influx of Syrian refugees, are also likely to dampen growth prospects and mean that life insurance will remain very underdeveloped by most metrics long after the end of the five-year forecast period.

...A lack of consolidation continues to prove a significant obstacle to the development of the insurance sector. The non-life segment in particular remains extremely fragmented, with some -- providers competing. ...

  
Source:
Document ID
2058-6698
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Cite this Report

  
MLA:
Business Monitor International - Industry Reports. "Jordan Insurance Report" Aug 30, 2016. Alacra Store. Dec 06, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Jordan-Insurance-Report-2026-1793>
  
APA:
Business Monitor International - Industry Reports. (2016). Jordan Insurance Report Aug 30, 2016. New York, NY: Alacra Store. Retrieved Dec 06, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Jordan-Insurance-Report-2026-1793>
  
US$ 1,295.00
$  £  
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