Regulatory Alerts2023-05-22
Added · Updated
Draft Decision on the Non-Resident Reinsurance Broker Business Disclosure Form
The Central Bank of Jordan issued a draft decision requiring non-resident reinsurance brokers to submit a specific business disclosure form. The document requests comments on the enclosed form, which mandates reporting detailed metrics including gross premiums, broker commissions, and claims data for each insurance company. Stakeholders are invited to provide feedback within two weeks of the letter's date.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Reference No.: 8613 / 1 / 2 Date: 19 / 10 / 1444 AH Corresponding to: 9 / 5 / 2023 AD
To the Esteemed Non-Resident Reinsurance Brokers,
Subject: Draft Decision on the Non-Resident Reinsurance Broker Business Disclosure Form
Greetings,
We enclose herewith the draft decision on the Non-Resident Reinsurance Broker Business Disclosure Form, for your kind review and to provide us with your comments, if any, within two weeks from the date of this letter.
Please accept our highest regards.
Governor Dr. Adel Al-Sharkas
Enclosed/ Copy to: Esteemed Insurance Companies
Form (1/1-11) P.O. Box 37 • Amman 11118 Jordan • Tel: 01-4630201 Fax: 01-4638889 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo
Report of the Reinsurance Brokerage Business Conducted During Year ....
Non-Resident Reinsurance Broker Name: ....................................................................
| Insurance Company Name | Insurance Type | Sum Insured | Gross Insurance Premium | Broker Share of Insurance Premium % | Broker Share of Insurance Premium (IOD) | Reinsurer Name | Reinsurer Share | Broker Commission | Paid Claims | Outstanding Claims | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total |