Central Bank of Jordan Decision on Regulatory Forms for 2024

[Central Bank of Jordan Logo]

Ref: 1/17/8414
Date: 29/6/1446 AH
Corresponding to: 21/12/2024 AD

Dear Respected Insurance Companies,

In accordance with the provisions of paragraph (b) of Article No. (109) of the Insurance Activities Regulation Law No. 12 of 2021, I hereby decide the following:

A. Insurance companies are required to provide the Central Bank with Appendix No. (1) or Appendix No. (2) attached to this decision, as applicable, within a period not exceeding two months from the end of the financial year at the latest.

B. Insurance companies are committed to providing the Central Bank with the attached appendices after they have been approved and signed by the company's external auditor.

Please accept our highest regards,

Governor
Dr. Adel Al-Sharkas

Attachments:
Appendix No. (1): Regulatory Forms for Insurance Companies.
Appendix No. (2): Regulatory Forms for Insurance Companies Licensed to Conduct Takaful (Islamic Insurance) Activities.

Copies to:

• Jordanian Union of Insurance Companies.
• External Auditors.
• Actuaries.

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[Page 2]
Appendix No. (1)

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[Page 3]
Form No. (1)
Deposits with Banks

Description	Currency	Deposits due within one month	Deposits due for more than one month up to three months	Deposits due after more than three months up to one year	Deposits due for a term exceeding one year and less than five years	Deposits due for a term exceeding five years	Total
Banks within Jordan
Banks outside Jordan
Total Deposits
Expected Credit Losses - Deposits
Net Deposits

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[Page 4]
Form No. (2)
Total Receivables

Description	Not yet due	30-90 days	91-180 days	181-360 days	More than 360	Total
Total Receivables related to insurance contracts
Expected Credit Losses
Net Receivables related to insurance contracts
Total Receivables not related to insurance contracts
Expected Credit Losses
Net Receivables

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[Page 5]
Form No. (2-A)
Receivables Related to Insurance Contracts

#	Description	Not yet due	30-90 days	91-180 days	181-360 days	More than 360	Total
1	Policyholders
	Expected Credit Losses
	Net Receivables (Policyholders)
2	Brokers
	Expected Credit Losses
	Net Receivables (Brokers)
3	Agents
	Expected Credit Losses
	Net Receivables (Agents)
4	Employee receivables
	Expected Credit Losses
	Net Receivables (Employees)
5	Other receivables
	Expected Credit Losses
	Net Receivables (Other receivables)
	Net Receivables
	3+4+5

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[Page 6]
Form No. (2-B)
Receivables Not Related to Insurance Contracts

#	Description	Not yet due	30-90 days	91-180 days	181-360 days	More than 360	Total
1	Employee receivables
	Expected Credit Losses
	Net Receivables
2	Other receivables
	Expected Credit Losses
	Net Receivables (Other receivables)
	Net Receivables
	1+2

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[Page 7]
Form No. (3)
Total Receivables from Reinsurers

Description	Not yet due	30-90 days	91-180 days	181-360 days	More than 360	Total
Total local reinsurer receivables
Expected credit losses
Net local reinsurer receivables
Total foreign reinsurer receivables
Expected credit losses
Net foreign reinsurer receivables
Net Receivables

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[Page 8]
Form No. (3-A)
Receivables of Insurance Companies - Foreign Reinsurers

#	Description	Not yet due	30-90 days	91-180 days	181-360 days	More than 360	Total
	Group One
1	Expected Credit Losses
	Net Receivables
	Group Two
2	Expected Credit Losses
	Net Receivables
	Group Three
3	Expected Credit Losses
	Net Receivables
	Group Four
4	Expected Credit Losses
	Net Receivables
	Net Receivables for Foreign Insurance Companies
	1+2+3+4

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[Page 9]
Form No. (3-B)
Receivables of Local Insurance Companies

Company Name	Solvency Margin*	Not yet due	30-90 days	91-180 days	181-360 days	More than 360	Total
Expected Credit Losses
Net Receivables
Expected Credit Losses
Net Receivables
Expected Credit Losses
Net Receivables
Net Receivables for Local Insurance Companies

The company must support the form with confirmation notices for the total balances of receivables and recoverables with local insurance companies. Solvency Margin according to published final financial statements.

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[Page 10]
Form No. (4)
Pending Lawsuits Against the Insurance Company During the Year

Ref No.	Plaintiff Name	Case Date	Subject of Case	Case Stages	Lawyer's Evaluation of the Case with Explanation	Company's Evaluation of the Claim by Importance (1)	Case Value "in Local Currency"	Expected Credit Losses for Comparable Cases
						Weak	Medium	Strong	Cannot be evaluated
1
2
3
4
5
	Total

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[Page 11]
Form No. (5)
Total Cheques for Collection Overdue and Not Related to Insurance Activities

Description	Due within current period	Due within previous period	Due from 6 months up to one year current period	Due from 6 months up to one year previous period	Due within a period of more than one year current period	Due within a period of more than one year previous period	Total
Total cheques for collection related to insurance activities
Total cheques for collection not related to insurance activities
Total

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[Page 12]
Form No. (5-A)
Cheques for Collection Related to Insurance Transactions

Description	Due within current period	Due within previous period	Due from 6 months up to one year current period	Due from 6 months up to one year previous period	Due within a period of more than one year current period	Due within a period of more than one year previous period	Total
Cheques for collection
Expected Credit Losses - Cheques for collection
Total

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[Page 13]
Form No. (5-B)
Cheques for Collection Not Related to Insurance Transactions

Description	Due within current period	Due within previous period	Due from 6 months up to one year current period	Due from 6 months up to one year previous period	Due within a period of more than one year current period	Due within a period of more than one year previous period	Total
Cheques for collection
Expected Credit Losses - Cheques for collection
Total

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[Page 14]
Form No. (6)
Due Loan Installments

Description	Installments due up to 90 days	Installments due from (91) to (180) days	Installments due from (181) to (360) days	Installments due more than (360) days	Total
Loans to life insurance policyholders not exceeding the contract's surrender value
Loans to life insurance policyholders exceeding the contract's surrender value
Loans and borrowing against real estate mortgages
Loans and borrowing against other tangible guarantees
Loans and borrowing without guarantees
Loans to sister companies and related companies
Less: Expected Credit Losses
Net Due Loan Installments

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[Page 15]
Form No. (7-A)
Real Estate Investments - General Insurance

Description	Address	Book Value	Current Period			Previous Period
			Valuer Name	Valuation Date	Valuation Amount	Valuer Name	Valuation Date	Valuation Amount
			First Valuation			First Valuation
			Second Valuation			Second Valuation
			Third Valuation			Third Valuation
Total

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[Page 16]
Form No. (7-B)
Real Estate Investments - Life Insurance

Description	Address	Book Value	Current Period			Previous Period
			Valuer Name	Valuation Date	Valuation Amount	Valuer Name	Valuation Date	Valuation Amount
			First Valuation			First Valuation
			Second Valuation			Second Valuation
			Third Valuation			Third Valuation
Total

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[Page 17]
Form No. (8)
Results of Vehicle Management

Description	Income				Takaful				Against Third Party				Against Third Party				Total
	Current	Previous	Current	Previous	Current	Previous	Current	Previous	Current	Previous	Current	Previous	Current	Previous	Current	Previous	Current	Previous	Current	Previous
Insurance Contract Revenues
Less: Insurance Contract Expenses
Reinsurance Contract Revenues
Less: Reinsurance Contract Expenses
Net Insurance Business Results
Financing Management Expenses - Takaful Reinsurance Contracts
Net Insurance Business Results After Financing
Interest Income
Net Profit (Loss) of Financial Assets and Investments
Takaful Policyholders' Share of Insurance Contract Profits After Profit Distribution
Takaful Policyholders' Share of Profits Transferred from Subsidiary and Sister Insurance Companies
Expected Credit Losses for Financial Assets and Investments
Share of More Than One Comprehensive Result of the Company / Included
Share from Result of More Than One Company / Included
Other Expenses
Total Expenses

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[Page 18]
Form No. (9-A)
First: Financial Assets at Fair Value Through Profit or Loss

Shares Listed in Financial Markets:

1- Within Jordan
Ref No.	Name of Invested Company	Number of Shares Owned by Insurance Company	Shareholding Percentage in Invested Company Capital %	Currency	Purchase Cost of Shares	Book Value per Share	Share of Shares from Fair Value Reserve (End of Previous Period)	Share of Shares from Fair Value Reserve (End of Current Period)	Change in Fair Value for the Period (Traded and Fair Value Reserve)	Method of Calculating Fair Value	Relationship with Invested Company	Notes
Total

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[Page 19]
Form No. (9-B)
Financial Assets at Fair Value Through Profit or Loss

Shares Not Listed in Financial Markets:

1- Within Jordan
Ref No.	Name of Invested Company	Number of Shares Owned by Insurance Company	Shareholding Percentage in Invested Company Capital %	Currency	Purchase Cost of Shares	Book Value per Share	Share of Shares from Fair Value Reserve (End of Previous Period)	Share of Shares from Fair Value Reserve (End of Current Period)	Change in Fair Value for the Period (Traded and Fair Value Reserve)	Method of Calculating Fair Value	Relationship with Invested Company	Notes
Total

1- Outside Jordan
Ref No.	Name of Invested Company	Number of Shares Owned by Insurance Company	Shareholding Percentage in Invested Company Capital %	Currency	Purchase Cost of Shares	Book Value per Share	Share of Shares from Fair Value Reserve (End of Previous Period)	Share of Shares from Fair Value Reserve (End of Current Period)	Change in Fair Value for the Period (Traded and Fair Value Reserve)	Method of Calculating Fair Value	Relationship with Invested Company	Notes
Total

• Shares outside Jordan are classified according to the nature of the investment (equity instruments).

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[Page 20]
Form No. (9-C)
Financial Assets at Fair Value Through Profit or Loss

Financial Assets - Bonds and Debt Instruments:

1- Within Jordan
Ref No.	Issuer Company Name	Par Value	Number of Bonds Owned by Insurance Company	Maturity Date	Interest Rate %	Currency	Bond Classification	Purchase Cost	Book Value	Difference Between Fair Value and Cost at End of Previous Period	Difference Between Fair Value and Cost at End of Current Period	Change in Fair Value for the Period (Traded and Fair Value Reserve)	Method of Calculating Fair Value	Relationship with Invested Company	Notes
Total

2- Outside Jordan
Ref No.	Issuer Company Name	Par Value	Number of Bonds Owned by Insurance Company	Maturity Date	Interest Rate %	Currency	Bond Classification	Purchase Cost	Book Value	Difference Between Fair Value and Cost at End of Previous Period	Difference Between Fair Value and Cost at End of Current Period	Change in Fair Value for the Period (Traded and Fair Value Reserve)	Method of Calculating Fair Value	Relationship with Invested Company	Notes
Total

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[Page 21]
Form No. (10-A)
Financial Assets at Fair Value Through Other Comprehensive Income

Shares Listed in Financial Markets:

1- Within Jordan
Ref No.	Name of Invested Company	Number of Shares Owned by Insurance Company	Shareholding Percentage in Invested Company Capital %	Currency	Purchase Cost of Shares	Book Value per Share	Share of Shares from Fair Value Reserve (End of Previous Period)	Share of Shares from Fair Value Reserve (End of Current Period)	Change in Fair Value for the Period (Traded and Fair Value Reserve)	Method of Calculating Fair Value	Relationship with Invested Company	Notes
Total

2- Outside Jordan
Ref No.	Name of Invested Company	Number of Shares Owned by Insurance Company	Shareholding Percentage in Invested Company Capital %	Currency	Purchase Cost of Shares	Book Value per Share	Share of Shares from Fair Value Reserve (End of Previous Period)	Share of Shares from Fair Value Reserve (End of Current Period)	Change in Fair Value for the Period (Traded and Fair Value Reserve)	Method of Calculating Fair Value	Relationship with Invested Company	Notes
Total

• Shares outside Jordan are classified according to the nature of the investment (equity instruments).

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[Page 22]
Form No. (10-B)
Financial Assets at Fair Value Through Other Comprehensive Income

Shares Not Listed in Financial Markets:

1- Within Jordan
Ref No.	Name of Invested Company	Number of Shares Owned by Insurance Company	Shareholding Percentage in Invested Company Capital %	Currency	Purchase Cost of Shares	Book Value per Share	Share of Shares from Fair Value Reserve (End of Previous Period)	Share of Shares from Fair Value Reserve (End of Current Period)	Change in Fair Value for the Period (Traded and Fair Value Reserve)	Method of Calculating Fair Value	Relationship with Invested Company	Notes
Total

2- Outside Jordan
Ref No.	Name of Invested Company	Number of Shares Owned by Insurance Company	Shareholding Percentage in Invested Company Capital %	Currency	Purchase Cost of Shares	Book Value per Share	Share of Shares from Fair Value Reserve (End of Previous Period)	Share of Shares from Fair Value Reserve (End of Current Period)	Change in Fair Value for the Period (Traded and Fair Value Reserve)	Method of Calculating Fair Value	Relationship with Invested Company	Notes
Total

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[Page 23]
Form No. (11)
Financial Assets at Amortized Cost

1- Within Jordan
Ref No.	Issuer Company Name	Par Value	Number of Bonds Owned by Insurance Company	Maturity Date	Interest Rate %	Currency	Bond Classification	Purchase Cost	Book Value	Total Income for the Period	Fair Value	Expected Credit Losses	Net Value After Deducting Expected Credit Losses	Method of Calculating Fair Value	Relationship with Company	Notes
Total

2- Outside Jordan
Ref No.	Issuer Company Name	Par Value	Number of Bonds Owned by Insurance Company	Maturity Date	Interest Rate %	Currency	Bond Classification	Purchase Cost	Book Value	Total Income for the Period	Fair Value	Expected Credit Losses	Net Value After Deducting Expected Credit Losses	Method of Calculating Fair Value	Relationship with Company	Notes
Total

Details of how the provision is calculated must be stated.

• Details of how the interest rate (EFFECTIVE INTEREST RATE) is calculated must be stated.

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[Page 24]
Form No. (12)
Subsidiary and Sister Companies

Investment Statement in Company ........................... as of ...........................

| Ref No. | Company Name | Subscribed Company Capital | Number of Shares of Subsidiary/Sister Company | Number of Shares Owned by Insurance Company | Shareholding Percentage to Company Capital | Currency | Cost | Book Value at End of Previous Period | Book Value at End of Current Period | Difference | Fair Value | Nature of Subsidiary/Sister Company Business | Legal Status of Subsidiary/Sister Company | Location of Subsidiary/Sister Company | Loans Granted to Subsidiary/Sister Company | Relationship with Company | Central Bank Approval Date | Notes |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| A - Subsidiary Companies | | | | | | | | | | | | | | | | | | |
| 1- Within Jordan | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| 2- Outside Jordan | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| Total | | | | | | | | | | | | | | | | | | |
| Grand Total | | | | | | | | | | | | | | | | | | |
| B - Sister Companies (Within and Outside Jordan) | | | | | | | | | | | | | | | | | | |
| 1- Within Jordan | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| 2- Outside Jordan | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| Total | | | | | | | | | | | | | | | | | | |
| Grand Total | | | | | | | | | | | | | | | | | | |

• Fair value is shown for disclosure purposes only.
  Shareholdings in insurance companies only.

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[Page 25]
Form No. (13)
Analysis of Claim Settlement for the Period Ending in the Underwriting Year

Accounting Year	Number of Incidents	Number of Unreported Incidents	Total	Number of Settled Incidents	Without Cost	During the Year	Number of Settled Incidents	Total Compensation Paid to Date	Percentage of Claims Settled to Date (Column 8/4)	Total Compensation Paid or Provisions on Account	Total Expected Compensation	Number of Suspended Incidents	Amounts on Account Mentioned in Column 11	Total Expected Compensation	Final Change in Total
	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15
Total

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[Page 26]
Form No. (14)
Analysis of Claims Under Settlement for the Period Ending

Description	Beginning of Financial Period	Number of Suspended Claims	Number of Claims Settled Without Cost	Compensation Value Paid During the Period	Original Provision for Claims	Number of Suspended Claims	End of Financial Period	Provision for Claims
Vehicles
Marine and Transport
Aviation
Fire and Other Property Damage
Liability
Credit and Guarantee
Medical
Other Branches
Total

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[Page 27]
Form No. (15)
Summary of Takaful Business Ceded to General Insurance for the Period Ending

Agreement Description	Duration Executed in Agreement	Any Single Loss JOD	Any Event Single Loss JOD	Minimum Net Retention for Ceded Company	Total Liability of Ceded Company to Agreement (Per Risk)	References for Local Reinsurers	References for Foreign Reinsurers	Expected Credit Losses and Recoverables JOD *
		1	2			Number of Reinsurers	Premiums JOD	Number of Reinsurers	Premiums JOD

• Detail expected credit losses for recoverables JOD and zero in case of no provisions.

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[Page 28]
Form No. (16)
Summary of Takaful Reinsurance Business for the Period Ending Insurance Permit

Names of all reinsurers whose participation exceeds (5%) of the total gross premiums ceded	Registered Office Address or Main Office	Regulated Reinsurer	Relationship, if any, between Reinsurer and Ceding Company	Default Reference as a percentage of Total Gross Premiums	Premiums Ceded to Reinsurers During the Financial Year / JOD	Amounts Due at End of Financial Year from Reinsurers / JOD
Total				0%	0	0

• Details required for all reinsurers whose participation exceeds 5% of the total gross premiums ceded.
  This form must be completed for each insurance permit.

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[Page 29]
Form No. (17)
Summary of Optional Reinsurance Business Ceded for the Period Ending Insurance Permit

Names of all reinsurers whose liability exceeds 5000 JOD per event	Registered Office Address or Main Office	Duration Covered in Contract	Regulated Reinsurer or Not	Relationship, if any, between Reinsurer and Ceding Company	Optional Reference as a percentage of Total Premiums	Total Liability of Ceded Company to Agreement	Premiums Ceded to Reinsurers in Financial Year JOD	Amounts Due at End of Financial Year from Reinsurers JOD

• This form must be completed for each insurance permit.

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[Page 30]