Regulatory Alerts2026-07-01
Added · Updated
Instructions for Licensing Insurance Brokers and Regulating Insurance Brokerage Activities No. (9) for the Year 2026
The Central Bank of Jordan establishes licensing requirements for insurance brokers, mandating minimum capital of 5,000 to 10,000 Jordanian Dinars depending on the number of branches, and requiring specific professional qualifications and experience for natural person brokers, insurance business managers, and mediation operators. The regulations define the scope of brokerage activities, impose obligations on brokers to obtain multiple quotes and maintain professional indemnity insurance, and set a three-year license validity period subject to renewal. Additionally, the document outlines procedures for initial and final approval, conditions for foreign broker branches, and administrative penalties for non-compliance.