Regulatory Alerts2024-09-06 | DOF 5738498Added
Amending Circular 3/24 of the Single Circular on Insurance and Surety Bonds
The National Insurance and Surety Bond Commission updates the paid claim indices and annual administrative expense indices in Annex 5.15.3 for institutions valuing surety bond reserves, and revises the statutory scenarios for the Dynamic Solvency Test in Annex 7.2.5. These updates require institutions to apply the new market parameters and statutory scenarios, including specific shock factors for various insurance and surety lines, to conduct the solvency test for the 2023 fiscal year. The circular enters into force the day after its publication in the Official Gazette of the Federation.