Regulatory Alerts2026-07-12
Added · Updated
Certificate of the Actuary in General Insurance Business and Supervisory Forms for 2024
The Central Bank of Jordan mandates the use of specific standardized forms for the annual Certificate of the Actuary in General Insurance Business and accompanying supervisory reports. Licensed actuaries are required to calculate contract liabilities in accordance with Actuarial Standards of Practice and International Financial Reporting Standards, certifying data accuracy, assumption appropriateness, and compliance with valuation procedures. The document prescribes detailed reporting structures for liabilities under the Premium Allocation Approach and General Measurement Model, including mandatory tables for incurred claims, remaining coverage, and reinsurance impacts. These requirements apply to insurance companies operating in Jordan for the 2024 reporting period.