Regulatory Alerts2023-05-22
Added · Updated
Draft Decision on Insurance Agent Business Statement Forms
The Central Bank of Jordan issued a draft decision on insurance agent business statement forms on May 9, 2023. This draft requires insurance agents to periodically submit specific forms to the Central Bank, detailing their general and life insurance agency business. The forms mandate reporting of total premiums, commission rates, commission values, paid compensations, and loss ratios for both current and comparative periods. Insurance agents are invited to provide feedback on the draft within two weeks of the letter's date.
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In the name of Allah, the Most Gracious, the Most Merciful
[Central Bank of Jordan Logo]
Number: 8610 / 1 / 12 Date: 19 / 10 / 1444 Corresponding to: 9 / 5 / 2023
Dear Insurance Agents,
Subject: Draft Decision on Insurance Agent Business Statement Forms
Greetings,
Attached is the draft decision on insurance agent business statement forms, which includes the forms that the insurance agent must periodically provide to the Central Bank, for your review and to provide us with your comments - if any - within two weeks from the date of this letter.
Please accept our respect,
Governor Dr. Adel Al-Sharkas
Attachment/ Copy to/ Dear Insurance Companies
Form 1/1-1444 P.O. Box 27 • Amman 11118 Jordan • Tel 4630301 Fax 4638889 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo
[Central Bank of Jordan Logo] Central Bank of Jordan Form No. (9-1) Agency Business Statement for General Insurance
Agency business statement for general insurance conducted by the insurance agent on behalf of ........................................ company During the period from ..../..../........ to ..../..../........
| General Insurance Business Branches | Current Period | Comparative Period | Notes |
|---|---|---|---|
| Total Premium | Commission Rate | Commission Value | |
| Total |
Number of pages: Note: "Total Premium" refers to the value of the basic premium plus any additional fees such as (issuance fees, stamps, tax .... etc.).
Agent: ........................................ Signature: ........................................ Registration No.: ........................................ Date: ........................................
CBJ/Agent/F9-1/V1
[Central Bank of Jordan Logo] Central Bank of Jordan Form No. (9-2) Agency Business Statement for Life Insurance
Agency business statement for life insurance conducted by the insurance agent on behalf of ........................................ company During the period from ..../..../........ to ..../..../........
| Life Insurance Business Branches | Current Period | Comparative Period | Notes |
|---|---|---|---|
| Total Premium | Commission Rate | Commission Value | |
| Total |
Number of pages: Note: "Total Premium" refers to the value of the basic premium plus any additional fees such as (issuance fees, stamps, tax .... etc.).
Agent: ........................................ Signature: ........................................ Registration No.: ........................................ Date: ........................................
CBJ/Agent/F9-2/V1
[Central Bank of Jordan Logo] Central Bank of Jordan Form No. (10-1) Agency Business Statement for General Insurance for each of the Insurance Company's Agents
Agency business statement for general insurance conducted by the insurance agent on behalf of ........................................ company During the period from ..../..../........ to ..../..../........
| General Insurance Business Branches | Current Period | Comparative Period | Notes |
|---|---|---|---|
| Total Premium | Commission Rate | Commission Value | |
| Total |
Number of pages: Note: "Total Premium" refers to the value of the basic premium plus any additional fees such as (issuance fees, stamps, tax .... etc.).
Agent: ........................................ Signature: ........................................ Date: ........................................
CBJ/Agent/F10-1/V1
[Central Bank of Jordan Logo] Central Bank of Jordan Form No. (10-2) Agency Business Statement for Life Insurance for each of the Insurance Company's Agents
Agency business statement for life insurance conducted by the insurance agent on behalf of ........................................ company During the period from ..../..../........ to ..../..../........
| Life Insurance Business Branches | Current Period | Comparative Period | Notes |
|---|---|---|---|
| Total Premium | Commission Rate | Commission Value | |
| Total |
Number of pages: Note: "Total Premium" refers to the value of the basic premium plus any additional fees such as (issuance fees, stamps, tax .... etc.).
Agent: ........................................ Signature: ........................................ Registration No.: ........................................ Date: ........................................
CBJ/Agent/F10-2/V1
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