Regulatory Alerts2022-04-06
Added · Updated
Circular on Collecting the Annual Fee from Insurance Companies
The Central Bank of Jordan mandates that insurance companies pay an annual fee calculated at a rate of 4.5 per thousand on total premiums subject to the fee. The fee base is determined by aggregating direct and reinsurance premiums, deducting reinsurance received from local insurers, and adding contract issuance service fees. Companies must remit the fee to the Central Bank every six months within 30 days of the period's end, accompanied by an external auditor-signed statement. This Circular, effective April 3, 2022, repeals Decision No. (9) of 2014 regarding annual fee collection.
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