Requirements for Renewing Insurance Business Management Company Licenses for 2025

Central Bank of Jordan 25-1999

Reference No.: 1890 / 15 / 10 Date: 18 / 5 / 1446 AH Corresponding to: 20 / 11 / 2024 AD

To: Respected Insurance Business Management Companies Subject: License Renewal for 2025

Based on the provisions of Clause (a) of Article (15) of the Instructions for Licensing Insurance Business Management Companies and the Principles Regulating and Supervising Their Business No. (36) of 2010 and its amendments, which stipulate the following: "An insurance business management company must submit an application for license renewal annually, no later than forty-five days before the expiration of its license term, which falls on the 31st of December of each year, according to the form prepared for this purpose..."

We request that you submit your license renewal application for 2025 by no later than Thursday, November 28, 2024, and must provide us with the following:

1. Completion of the license renewal form available on the Central Bank of Jordan's website and attaching the requirements specified therein.
2. A statement detailing the activities conducted during the previous year, according to the form prepared for this purpose.
3. A statement listing the insurance companies and self-financing funds contracted with, along with the expiration date of each agreement.
4. A certificate of no criminal record from the competent authorities for each of the owners, partners, board of directors members, the General Manager, and key employees of the company, as applicable.
5. A copy of a valid professional liability insurance policy.
6. An updated copy of the company's registration certificate with the Companies Control Department, as applicable (extracted from the website).
7. An updated copy of the commercial name/trademark registration certificate with the Ministry of Industry, Trade, and Supply, as applicable.
8. Clarification of the detailed address of your office location and providing us with a recent copy of your office lease agreement.
9. Signing a written declaration confirming compliance with the conditions stipulated in Articles (19-21) of the Insurance Business Regulations No. (12) of 2021, and undertaking to inform the Central Bank immediately if any of the conditions contained therein cease to be met for each of the owners, partners, board of directors members, the General Manager, and key employees of the company, as applicable (Form CBJ/ISPs/F1/V1).
10. Signing the approved address declaration form.
11. A copy of the passport or national ID card for each of the board of directors members, the General Manager, and key employees of the company, as applicable.
12. Details of your non-Jordanian employees, confirming that they hold valid work permits and/or residence permits, as applicable.
13. Payment of the due annual fees and attaching the deposit receipt.

We emphasize the necessity of submitting the application by the specified deadline above to enable us to proceed with the review procedures and take necessary actions. Please note that the aforementioned forms are published on the Central Bank of Jordan's website (www.cbj.gov.jo).

Accept our highest regards,

Central Bank of Jordan [Signature]

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Central Bank of Jordan CENTRAL BANK OF JORDAN

P.O. Box 37 • Amman 11118 Jordan • Tel: 01-3030463 • Fax: 01-888364 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo Form (1/1/090)