Regulatory Alerts2023-05-22
Added · Updated
Draft Decision on Reinsurance Broker Activity Statement Forms
The Central Bank of Jordan issued a draft decision requesting comments from reinsurance brokers on new activity statement forms within two weeks of the May 9, 2023 letter. The document introduces Form 1-1 for general insurance branches and Form 1-2 for life insurance branches, requiring brokers to report contract numbers, premiums, and commissions for each insurance company. These forms mandate detailed breakdowns of reinsurance brokerage activities across specific insurance categories and include notes defining total premium calculations.
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