Islamic Insurance Company Shareholders' Profits Total JD2.8M In 2024

(MENAFN- Jordan Times) AMMAN - The Islamic Insurance Company (IIC) achieved "good" preliminary financial results at the end of 2024, as shareholders' profits before tax reached JD2.876 million, compared with JD2.550 million for 2023, marking a growth rate of some 13 per cent.

The IIC's total assets for 2024 amounted to about JD52 million compared with around JD48 million for 2023, with a growth rate of 8 per cent, while shareholders' equity amounted to JD23.6 million compared with JD23.1 million for 2023, which equals 143 per cent of the company's capital.

ICC General-Manager Rida Dahbour said that the company achieved sustainable growth in its various financial indicators and insurance activities, and the company worked during 2024 to maintain sufficient reserves to face risks in order to support business growth and improve profitability, the Jordan News Agency, Petra, reported.

Dahbour added that all reinsurance agreements with major reinsurance companies were renewed and the agreements expanded for 2025, confirming the great confidence that the company enjoys in the local and global market, in addition to the company's obtaining a credit rating, with a grade of (A++) and a stable future perspective.

These achievements also contributed in the company winning the award for the "best Takaful insurance company in Jordan" for 2024 for the fourth consecutive year, according to World Finance international magazine.

Also, the ISO certificate license for the quality management system, applied in the company, was renewed so that the company provides all its insurance services in accordance with the latest international quality standards and in accordance with the international ISO 9001:2015 standard, Petra added.

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