Regulatory Alerts2026-06-18
Added · Updated
Instructions Regulating the Dealings of Non-Resident Reinsurance Brokers in the Kingdom with Insurance Companies Operating Within the Kingdom for the Year 2026
The Central Bank of Jordan issues Instruction No. 7 of 2026, requiring non-resident reinsurance brokers to obtain prior written approval to deal with local insurance companies. The regulation mandates specific eligibility criteria, including a minimum paid-up capital of 50,000 Jordanian Dinars, high international credit ratings, and professional indemnity insurance coverage of at least 200,000 JOD per occurrence. It establishes a detailed application and renewal process, imposes ongoing compliance and reporting obligations, and grants the Governor authority to issue warnings or revoke approvals for violations.