"JOFICO" Jordan French Insurance Company announced through a disclosure it recently published on the website of the Securities Commission, explaining the company's performance, that it has maintained its "BB-" credit rating by Fitch Credit Rating Agency, which is considered stable, and which came based on the performance of the portfolio, the size of premiums, the market share, the company's profitability, and its ability to meet and provide obligations to its customers on the one hand and the regulatory authorities on the other hand, and the company's long-term sustainability.
The CEO, Dr. Odeh Abu Joudeh, commented on this classification by saying that financial companies, specifically insurance companies are being evaluated through one of four major international companies such as (Fitch, Moody's, Standard & Poor's, and Hermes) that classify financial companies such as banks, insurance companies, and others. The "Fitch" classification is considered one of the strongest and largest classifications because it classifies countries and thus reflects our strength and stability. Dr. Abu Joudeh pointed out that during the year 2024, we maintained our credit rating at the same rate as last year despite the difficult circumstances that the industry and the entire region are going through. This indicates the company’s strength, durability and stability in the Jordanian insurance market, which confirms that the company is following long-term strategies to continue achieving and implementing goals with the same stability and steadfastness.