Regulatory Alerts2019-06-28 | DOF 5564485Added
Amending Circular 11/19 of the Single Insurance and Surety Circular
The National Insurance and Sureties Commission amends Annexes 6.3.3, 6.3.7, 6.3.8, and 6.3.9 of the Single Insurance and Surety Circular to adjust the market risk measurement model and ensure consistency in loss variable calculations for life, non-life, and accident/illness insurance. Insurance institutions are required to calculate the loss variables for short-term life insurance (L_P,VCP), long-term life insurance (L_P,VLP), and non-life insurance (L_P,NV,Rm) using the specified methodologies and technical bases. These calculations are mandatory components for determining the Technical and Financial Risk Capital Requirement (RC_TyFS) under the General Formula. The circular enters into force the day following its publication in the Official Gazette of the Federation.
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