Regulatory Alerts2023-09-11
Added · Updated
Central Bank of Jordan Decision on Periodic Data Required from Insurance Agents and Insurance Companies
The Central Bank of Jordan mandates that insurance agents submit annual agency business statements by the end of March each year, while exempting natural production, non-dedicated production, and non-dedicated issuance agents from this specific requirement. Agents must also provide data every two years, with legal person and general insurance natural person agents reporting in even-numbered years, and life insurance natural person agents reporting in odd-numbered years. Insurance companies are required to submit annual data and detailed statements for each of their agents by the end of March annually. This decision, effective September 1, 2023, repeals Decision No. (31) of 2010 and establishes specific forms for these submissions.