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Jordan tag returned 158 results

  • Jordan: Central Bank decides to liquidate insurer

    The Central Bank of Jordan (CBJ) issued its decision to liquidate Arab Union International Insurance company (AUII) as of 26 January 2025, according to a statement the Bank has issued earlier this week. The CBJ said that the decision aims at protecting the rights of policyholders and beneficiaries of insurance contracts.

    Middle East | 28 Jan 2025
  • Jordan: Central bank issues draft insurance Bill

    The Central Bank of Jordan (CBJ) has completed preparing a draft insurance law, according to a statement by the regulator released last week.

    Middle East | 09 Dec 2024
  • Jordan: UNDP signs MoU with insurance federation on training

    The United Nations Development Programme (UNDP) in Jordan has signed a Memorandum of Understanding (MoU) with the Jordan Insurance Federation (JIF) to deliver advanced Training of Trainers (ToT) programmes on innovative insurance and risk-financing products in Jordan.

    Middle East | 01 Dec 2024
  • GIG Jordan's credit ratings upgraded

    AM Best has upgraded the Financial Strength Rating (FSR) to 'A-' (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to 'a-' (Excellent) from 'bbb+' (Good) of Gulf Insurance Group - Jordan (GIG Jordan). The outlook of these credit ratings is 'Stable'.

    Middle East | 20 Nov 2024
  • Jordan: Implementation of gazetted new medical fee schedule delayed

    The implementation of a new 2024 medical fee schedule, published on 16 November 2024, in the Official Gazette by the Ministry of Health, has been postponed to 15 June 2025.

    Middle East | 19 Nov 2024
  • Jordan: Insurance premiums grow by nearly 5% to over US$850m in Jan-Sep 2024

    Total insurance premiums in Jordan in the past nine months of this year amounted to JOD603m ($851m), an increase of about 4.9% compared to the corresponding period in 2023, according to statistics released by the Central Bank of Jordan.

    Middle East | 30 Oct 2024
  • Jordan: Mid-sized insurer expected to meet 2025 rule doubling minimum capital to US$23m

    Jordan French Insurance Company (JOFICO) is expected to meet higher regulatory requirements that are set to be introduced in 2025, whereby the minimum amount of paid-up capital for composite insurers will rise to JOD16m ($23m) from JOD8m, says Fitch Ratings.

    Middle East | 28 Oct 2024
  • Jordan: Central bank announced draft rules for insurance broking business

    The Central Bank of Jordan has issued draft regulations for the licensing, regulating and supervising of insurance brokers.

    Middle East | 22 Oct 2024
  • Jordan French Insurance Co expected to report profits in 2024

    Jordan French Insurance Company (JOFICO) has a financial performance that Fitch Ratings views as a rating weakness although it is improving since 2023. Fitch, in a report released yesterday, says that it expects JOFICO to report positive profitability in 2024.

    Middle East | 16 Oct 2024
  • Jordan: Doctors to stop dealing with insurers in disagreement over remuneration

    The Jordan Medical Association (JMA) has decided that its members would stop dealing with insurance companies as of 16 October 2024 if the 2024 doctors' remuneration list remained unapproved then. The decision was made on 23 September.

    Middle East | 26 Sep 2024