News & Event Details

Amman, Jordan – February 25, 2025 – The Board of Directors of Gulf Insurance Group – Jordan convened its meeting on February 24, 2025, chaired by Eng. Nasser Al- Lozi, to approve the company’s financial statements for the fiscal year ending December 31, 2024. The meeting was attended by members of the Board and the company’s CEO, Dr. Ali Wazaney.

Eng. Nasser Lozi, Chairman of the Board, expressed the Board’s satisfaction with the company’s performance in 2024, during which GIG – Jordan achieved positive growth across key financial indicators. The company reported a net profit after tax of JOD 10.1 million, reflecting a 6.2% increase compared to JOD 9.49 million in the previous year. Total assets reached JOD 137.56 million, with investments accounting for 73% of the total.

Dr. Ali Wazaney, Chief Executive Officer, highlighted the company’s continued success, noting a 13.2% year-over-year increase in insurance contract revenues, which exceeded JOD 124.6 million. The company also maintained a return on equity of 19% and a combined loss ratio below 90%.

These achievements further strengthened the company’s market position. In 2024, the global credit rating agency AM Best upgraded GIG – Jordan’s Financial Strength Rating to A- (Excellent) and its Long-Term Issuer Credit Rating to a- (Excellent).

In addition, the Board of Directors resolved to convene the company’s Ordinary General Assembly meeting on April 27, 2025, to approve the financial statements, the auditor’s report, and the Board of Directors’ report for the year ending December 31, 2024. During the same session, the Board also recommended that the General Assembly approve a cash dividend distribution of 20% of the company’s capital of JOD 26 million, subject to obtaining all necessary regulatory approvals.