Circular on Collecting the Annual Fee from Insurance Companies

In the Name of Allah, the Most Gracious, the Most Merciful

[Logo of the Central Bank of Jordan]

Number: 17 / 5848
Date: 7 Ramadan / 1443 AH
Corresponding to: 4 / 4 / 2022 AD

Dear Insurance Companies,

Subject: Circular on Collecting the Annual Fee from Insurance Companies

Based on the provisions of Article (3) of the Insurance Activities Fees Law No. (18) of 2022, I hereby decide the following:

1- The total premiums subject to the annual fee shall be calculated at a rate of (4.5) per thousand, which is recorded in Field No. (4) of the table attached to this Circular, as follows:

a- The following premiums are aggregated and recorded in Field No. (1) of the table attached to this Circular:

• Direct insurance premiums written by the company within and outside the Kingdom.
• Reinsurance premiums received by the company.

b- From the total premiums resulting from paragraph (a) of this item, reinsurance premiums received by the company from a local insurance company shall be deducted, and these premiums shall be recorded in Field No. (2) of the table attached to this Circular.

c- The value of the insurance contract issuance service fee shall be added to the total resulting from paragraphs (a) and (b) of this item, and shall be recorded in Field No. (3) of the table attached to this Circular.

2- The company shall pay the annual fee due to the Central Bank, which is recorded in Field No. (5) of the attached table, for every six months within (30) days starting from the day following the end of this period. The payment shall be deposited directly into the supervision and monitoring fees account for insurance companies.

3- The company shall notify the Central Bank after each deposit made regarding the annual fee and attach to this notification a statement showing the premiums subject to the fee and the amount of the fee due, in accordance with the table attached to this Circular. The statement must be reviewed by the company's external auditor and signed to confirm this before submission to the Central Bank.

4- Decision No. (9) of 2014 "Decision on Collecting the Annual Fee from Insurance Companies" and its amendments are hereby repealed.

5- The provisions of this Circular shall be effective as of the date 2022/4/3.

Governor
Dr. Adel Al-Sharkas
[Signature]

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P.O. Box 37, Amman 11118, Jordan • Tel: 4630301 • Fax: 4638889, 4639730, 461330 e-mail: info@cbj.gov.jo website: www.cbj.gov.jo

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[Logo of the Central Bank of Jordan]

Premiums Statement for Insurance Companies and Total Premiums Subject to the Annual Fee Due to the Central Bank

For the company .................................... for the period ....................................

Field No. 1	Field No. 2	Field No. 3	Field No. 4	Field No. 5
Total premiums written locally and internationally	Reinsurance premiums received by the company from a local insurance company	Insurance contract issuance service fee	Total premiums subject to the fee (1)-(2)+(3)	Amount of the fee due to the Central Bank at a rate of 4.5 per thousand

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P.O. Box 37, Amman 11118, Jordan • Tel: 4630301 • Fax: 4638889, 4639730, 461330 e-mail: info@cbj.gov.jo website: www.cbj.gov.jo

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