Regulatory Alerts2025-01-02
Added · Updated
Instructions for Determining Subscription Volume in Mandatory Vehicle Insurance for 2024
The Central Bank of Jordan issued Instructions No. (22) of 2024, effective January 1, 2025, which cap mandatory vehicle insurance premiums at 100% of an insurer's total equity rights within the Kingdom. The regulation exempts premiums included in comprehensive contracts from this cap and authorizes the Central Bank to prohibit additional contracts for insurers violating solvency requirements. These rules replace the previous Instructions No. (27) of 2010 and apply to insurance companies operating in Jordan.