97.6%of insurance complaints related to automotive sector — CBJ

AMMAN — The Central Bank of Jordan (CBJ) data showed that the number of complaints filed in the insurance sector last year amounted to 1,767, 97.6 per cent of which were in vehicle insurance, while the number of settlements during this period reached 394.

Insurance premiums by the end of 2024 grew by 7.7 per cent compared with the end of 2023, while the value of insurance compensation increased by 6.5 per cent during the same period, Al Mamlaka TV reported.

According to data issued by the CBJ, the total premiums collected by insurance companies from citizens during 2024 amounted to JD800 million, compared with JD742 million in 2023.

Vehicle insurance accounted for the highest percentage of the value of premiums calculated by companies at about 34 per cent, equivalent to JD272 million, followed by medical insurance with about 31 per cent, with a value of JD248 million in 2024.

As for the compensation paid by the insurance sector in 2024, it amounted to JD534 million, compared with JD501 million during 2023, marking an increase of some JD33 million.

As in the case of the value of premiums, vehicle insurance dominated the majority of compensation paid during 2024 with JD261 million, which constitutes 48.8 per cent of the total compensation paid, while the medical insurance sector paid compensations amounting to JD197 million, constituting 36.9 per cent.