A Sophisticated But Crowded Market

Despite the current buzz of excitement surrounding the Hashemite Kingdom of Jordan as it hosts this month’s GAIF Conference by the Dead Sea, most of the kingdom’s insurers will nonetheless return to their offices once the event is over still resigned to the probability of their business proving little easier in 2010 than it was last year. Intense competition and government regulation together continue to constrain premium rates while costs rise due, for example, to increasingly steep increases in health care expenses, and steadily rising staff bills as insurers pay more and more to prevent their best employees moving abroad to work in burgeoning GCC insurance markets.