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   LONDON--(Business Wire)--A.M. Best Europe - Rating Services Limited has affirmed the financial strengthrating of B++ (Good) and the issuer credit rating of "bbb+" of Jordan InsuranceCompany Plc. (JIC) (Jordan). The outlook for both ratings remains stable. The ratings reflect JIC`s solid business position in Jordan, robust operatingperformance and strong risk-adjusted capitalisation. JIC has an established position in Jordan where it is ranked the second-largestinsurance company by gross written premium (GWP). JIC`s GWP reached JOD 46million (USD 56 million) in 2011, representing a market share of approximately10%. In addition, JIC`s portfolio is well distributed by lines of business on agross basis as a result of intense product development over the years andincreasing insurance awareness of the local population. Going forward, A.M. Bestexpects JIC to continue growing between 5% and 10% over each of the next twoyears, and to remain focused in the local market. JIC remained one of the most profitable companies in Jordan in 2011. Profitbefore tax stood at approximately JOD 3 million (USD 4.3 million) andrepresented a return over adjusted capital and surplus of 7.1%. A.M. Best notesthat whilst technical profitability has been impacted by an underperformingmotor compulsory third party liability, JIC has experienced a good level ofprofitability throughout its portfolio. Investments remain highly concentratedin equities and real estate and produced an investment yield of 3.9% in 2011. JIC`s risk-adjusted capitalisation is strong, benefiting from a historicallygood level of earnings and profit retention. Furthermore, JIC`s risk-adjustedcapitalisation benefits from a good level of business leverage, a comprehensivereinsurance programme of good credit quality and is partially offset by thecompany`s investment portfolio, given the concentration of investment inequities and real estate. In A.M. Best`s opinion, JIC`s risk-adjustedcapitalisation is likely to remain supportive of the company`s business planover the medium term. Going forward, downward rating movement could occur through a materialdeterioration in JIC`s risk-adjusted capital level or by an increase Jordan`scountry risk. Upward rating movement is unlikely over the medium term. The methodology used in determining these ratings is Best`s Credit RatingMethodology, which provides a comprehensive explanation of A.M. Best`s ratingprocess and contains the different rating criteria employed in the ratingprocess. Key criteria utilised include: "Risk Management and the Rating Processfor Insurance Companies"; "Evaluating Country Risk"; "Understanding UniversalBCAR"; "Natural Catastrophe Test Methodology"; and "Rating Members of InsuranceGroups". Best`s Credit Rating Methodology can be found at
  www.ambest.com/ratings/methodology.
  In accordance with Regulation (EC) No. 1060/2009, the following is a link torequired disclosures: A.M. Best Europe - Rating Services Limited SupplementaryDisclosure.A.M. Best Europe - Rating Services Limited is a subsidiary of A.M. BestCompany.Founded in 1899, A.M. Best Company is the world's oldest and mostauthoritative insurance rating and information source. For more information,visit 
  www.ambest.com.
  Copyright  2012 by A.M. Best Company, Inc.ALL RIGHTS RESERVED.  A.M. Best Co.Helio CorreaAssociate Financial Analyst+(44) 20 7397 0311helio.correa@ambest.comorMahesh MistryAssociate Director+(44) 20 7397 0325mahesh.mistry@ambest.comorRachelle MorrowSenior Manager, Public Relations+(1) 908 439 2200, ext. 5378rachelle.morrow@ambest.comorJim PeavyAssistant Vice President, Public Relations+(1) 908 439 2200, ext. 5644james.peavy@ambest.comCopyright Business Wire 2012