AMMAN - - The Chairman of the Board of Directors of Arab Orient Insurance Co., Khaled al-Hassan said “the company's results were a record in terms of growth in premiums, which reached JOD 44.5 million, an increase of 38% over the previous year, with profits to the company functional JOD 3.66 million”.
The Governing Council decided to recommend the capitalization of profits to the General Authority during March 2010. The capitalization of profits amounting to JOD 2.15 in capital for distribution after the increase of JOD 15 million/ share and recycling the rest of the profits for the coming year.
CEO Issam Abdul-Khaliq commented “despite the enormous challenges and difficulties faced by the domestic economy in general and the insurance sector in particular during 2009, the company managed to vigorously and consistently achieve all the annual plan objectives set and even exceeding them”.
He explained that “the company was able to increase the number of corporate customers to 2126 companies and institutions, and the total customer base in the medical insurance for more than 110 thousand subscribers (beneficiary)”. As a result, The company's assets grew to JOD 41 million, of which 30 million are cash deposits and semi-cash accounts.
The company continued its policy of staff development and training where it held 24 training courses for more than 100 employees. The number of staff at the Arab Insurance Co. grew to 164 professional employees.
Abdul khaleq added that “the company is still the fastest and largest in terms of compensation, which amounted to about JOD 27 million, a record breaking achievement obtained with efficiency, credibility and team work.
It is worth mentioning that the company was able to get an endorsement to its outlook classification from AM Best, an upgrade from stable to positive in 2009, as well as access to 5 awards from Euromoney magazine, including the best insurance company in Jordan and the best compensation settlement.
The Company also obtained the Greater Amman Municipality Award for outstanding performance in providing service. As well as obtaining the Silver Award from Jordan Web Awards, under the category of insurance sector and banks.