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January 29, 2013

 

First Insurance acquires the International Rating B++ for the Second Year

 

 

The Global Classification Agency A.M.Best granted First Insurance Company for the second year in a row a rating of B++ for Financial Strength with stable outlook as the highest Financial Strength rating granted to a Jordanian Insurance Company.

 

A report issued by the Agency stated that the Company achieved a stable position for itself in the Jordanian Insurance Market since its incorporation and as expected, the Company today leads Takaful Insurance Industry in Jordan as it was able to maintain the same outstanding level of growth rates.

 

The Report also mentioned that the Company has a distinguished financial position supported by a strong capital base and good financial performance from all aspects.  The Company's Chairman, Mr. Ismail Tahboub, asserted that such classification acquired by first Insurance Company for the second time in a row places the Company at the category of the greatest insurance companies not only at Jordan's level but also the Arab World and it also  grants the Company's clients the confidence in the financial status and insurance protection provided to them by the Company particularly in view of circumstances experienced in the region and the Jordanian Insurance Market.

 

Tahboub said that achieving such classification twice in a row is an important accomplishment in itself which becomes even more important when granted to a young company such as ours which was incorporated in 2007.

 

The Company's Chief Executive Officer, Dr. Ali Al Wazani said that such accomplishment is a constant reminder to us of our Company's motto which requires us to provide the optimum in the global insurance industry which augments our confidence in the work strategy that the Company has adopted to realize its mission and message.  Al Wazani indicated that granting the Company such classification for the second time in a row in view of the conditions suffered by the Insurance Sector in the world and particularly in the Kingdom, gives greater confidence to the Company's clients and fortifies their trust in it day after day.

 

He added that the record growth rates achieved by the Company since incorporation and the balance of its insurance portfolio in the various lines of insurance business were some of the crucial factors in acquiring such classification.

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