Tha Company was established in 1976.
JOFICO was established in affiliation with M/S COMPAGNIE FINANCIER DU GROUP VICTORE of FRANCE, where the French held 25% and two seats on the Board of Directors
In 1987, M/S LINCOLIN NATIONAL LIFE INSURANCE CO. of Fort Wayne , Indiana ( USA ) bought shares in the company
In 1989 JOFICO took over the Jordanian operation of M/S PROVINCIAL INSURANCE PLC, a U.K based firm,
In 1997 major changes took place in JOFICO when:
-The Jordan Armed Forces bought equity in JOFICO and became shareholders and Board Members.
-The JORDANIAN ECONOMIC & SOCIAL ORGANIZATION FOR RETIRED SERVICEMEN & VETERANS also bought equity in JOFICO and became shareholders and Board Members.
-The JORDAN SOCIAL SECURITY CORPORATION bought equity in JOFICO, and became Board Members
In 1999 purchased 60% of M/S UNIVERSAL INSURANCE CO. LTD in Amman , and took over it’s Board of Directors and Direct Management, and changed it’s name to “OASIS INSURANCE CO. LTD”
In 2000 purchased 70% of AL-MASHRIQ INSURANCE CO. LTD” in Ramallah
Mode of Finance
The fully paid capital is 2.2 MD, the capital included tha assits is 13.4 MD. With 60 employees.
(last updated: 11-July-2003)
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