Jordan Insurance Company (JIC) announced this week in a press statement that it will be distributing dividends to shareholders at a rate of 6% following the approval of the general assembly during an ordinary meeting held recently, Jordan Times reported.
According to the statement, shareholders discussed the 2013 annual report which showed that the company’s technical profit reaching JOD 3 million last year.
JIC Managing Director Imad Abdel Khaleq said in the press statement: “Although technical reserves increased exceptionally last year, we managed to achieve good technical profit in 2013 and enhance the overall financial position of the company.
Because of the instability of the financial market and the subsequent setbacks in the stock prices, our net profit was slightly affected.
Abdel Khaleq pointed to JIC’s diverse real estate portfolio as evidence of the company’s enduring financial strength, noting that although the book value stands at JOD17 million, the current market value comes at JOD30 million.