Regulatory Alerts2022-06-20
Added · Updated
Central Bank of Jordan Circular on Reinsurance Arrangements and Programs
The Central Bank of Jordan mandates that reinsurance brokers must exclusively transact with reinsurers classified in the First and Second Groups based on AM Best, Moody's, or Standard & Poor's ratings. Additionally, the circular prohibits brokers from engaging with unlicensed underwriting agents, requiring them to hold a license from the Central Bank to operate. These compliance requirements apply to reinsurance brokers operating in Jordan.
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