November 2018
Middle East Insurance Company is the second oldest insurance company in Jordan. The majority of its business comes from the non-life sector: life and health representing around 20 – 25% of overall business.
According to Rajai Sweis, Chief Executive Officer, there is only one international insurance company in Jordan at present (Met Life). Few others such as AXA, Allianz & Munich Re own shares in Jordanian insurance companies. Other international investors in Jordan are found in the fields of telecommunication and industry.
In order to gain interest from those companies with existing connections, Middle East Insurance Company leverages its relationship with GEB.
“We’re focusing on life and arrange it with GEB whenever the client has a connection with Generali to help get the business over the line. We also sometimes introduce GEB to a new client. We have influence in the market because we’re a big player in the non-life sector.
“It’s a small market in Jordan and there are many insurance companies. So we also try to differentiate by focusing on our employees. We ensure training, incentives, including paying 100% of expenses and fees for our employees to become qualified in insurance with the Chartered Insurance Institute.
“In this way our employees can handle all enquiries from clients and provide a better & direct service making sure all information is accurate and timely. This makes a difference, especially for multinational clients.”