Regulatory Alerts2024-10-07 | DOF 5740413Added
Amending Circular 5/24 of the Single Insurance and Surety Circular
The National Insurance and Sureties Commission amends Annexes 34.1.21-b and 34.4.3 of the Single Insurance and Surety Circular to update the records of foreign reinsurers. Annex 34.1.21-b lists the registration, cancellations, and legal status changes of foreign entities from January 1 to July 31, 2024, including new registrations for entities such as Dunav Re A.D.O. Belgrado and Zurich Insurance Europe AG. Annex 34.4.3 provides the list of representative offices of foreign reinsurers operating in Mexico as of July 31, 2024, detailing their registration numbers.
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DOF: 07/10/2024
Amending Circular 5/24 of the Single Insurance and Surety Circular
At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- TREASURY.- Ministry of
Finance and Public Credit.- National Insurance and Sureties Commission.
AMENDING CIRCULAR 5/24 OF THE SINGLE INSURANCE AND SURETY CIRCULAR
(Annexes 34.1.21-b and 34.4.3.)
The National Insurance and Sureties Commission, based on what is established in articles 107, 108,
256, 366, sections II and X, 372, sections VI, IX and XLII, 373 and 381 of the Law of Insurance and Surety Institutions, and:
CONSIDERING
That in terms of what is established in article 107 of the Law of Insurance and Surety Institutions,
in concordance with Chapter 34.1. of the Single Insurance and Surety Circular, it is the competence of the
National Insurance and Sureties Commission to maintain the General Register of Foreign Reinsurers in which
first-tier reinsurers from abroad that meet solvency and stability requirements
to carry out reinsurance and surety operations and comply with the diversification of the
liabilities that insurance institutions and mutual insurance societies and surety institutions of the country assume; which implies following up, among others, on the acts of registration, cancellation and changes in
the legal status presented by such entities from abroad, and whose registration will be made known through the
Annex 34.1.21-b. of the aforementioned Circular.
That in terms of what is established in article 108 of the Law of Insurance and Surety Institutions,
with respect to Provision 34.4.3. of the Single Insurance and Surety Circular, the information regarding the
Representative Offices of Foreign Reinsurers authorized by the National Insurance and Sureties
Commission, to establish themselves in the United Mexican States, will be made known through Annex 34.4.3
of the aforementioned Circular.
That, in view of the foregoing, it is necessary to update Annexes 34.1.21-b and 34.4.3. of the Circular
Single Insurance and Surety, with the information regarding the granting of registration in the General Register
of Foreign Reinsurers of first-tier reinsurers from abroad, that meet the requirements
of solvency and stability to carry out operations and comply with the diversification of the
liabilities that insurance institutions and mutual insurance societies and surety institutions of the country assume, as well as changes in the legal status presented by such entities from abroad; as well as the information that these reinsurers provide to the National Insurance and Sureties
Commission regarding their Representative Offices authorized by the National Insurance and Sureties
Commission to establish themselves in the United Mexican States.
For the above, the National Insurance and Sureties Commission has resolved to issue the following
modification to the Single Insurance and Surety Circular in the following terms:
AMENDING CIRCULAR 5/24 OF THE SINGLE INSURANCE AND SURETY CIRCULAR
(Annexes 34.1.21-b and 34.4.3.)
SINGLE. - Annexes 34.1.21-b and 34.4.3. of the Single Insurance and Surety Circular are modified.
TRANSITORY
FIRST.-
Publish it in the Official Gazette of the Federation.
SECOND.-
This Amending Circular will enter into force the day after its publication in the
Official Gazette of the Federation.
Respectfully
Mexico City, September 24, 2024. - The President of the National Insurance and Sureties
Commission, Ricardo Ernesto Ochoa Rodríguez. - Signature.
ANNEX 34.1.21-b.
REGISTRATIONS, CANCELLATIONS, CHANGES OF NAME OR LOCATION AND OF
LEGAL STATUS OF INSURANCE AND REINSURANCE ENTITIES FROM
ABROAD REGISTERED
IN THE RGRE
From January 1 to July 31, 2024
a)
Granting of registration.
...
SHCP/CNSF Office
Date
Subject
06-C00-41100-03705/2024
01/04/2024
Registration is granted to COMPAÑÍA DE REASEGUROS
DUNAV RE A.D.O. BELGRADO, with registration number
RGRE-1303-24-C0000.
06-C00-41100-06057/2024
01/04/2024
Registration is granted to OLÉ INSURANCE GROUP CORP.
I.I., with registration number RGRE-1304-24-C0000.
06-C00-41100-03483/2024
13/05/2024
Registration is granted to SUTTON SPECIALTY
INSURANCE COMPANY, with registration number RGRE- 1307-24-C0000.
06-C00-41100-04153/2024
15/05/2024
Registration is granted to COFACE RE, S.A., with number of
registration RGRE-1306-24-C0000.
06-C00-41100-16514/2024
23/05/2024
Registration is granted to AMFIRST SPECIALTY
INSURANCE COMPANY, with registration number RGRE- 1305-24-C0000.
06-C00-41100-18891/2024
03/06/2024
Registration is granted to VIG RE ZAJIT'OVNA, A.S., with
registration number RGRE-1308-24-C0000.
b)
Change of name or location.
...
SHCP/CNSF Office
Date
Subject
06-C00-41100-19399/2024
30/05/2024
Note was taken of the change of name of ZURICH
INSURANCE PUBLIC LIMITED COMPANY to ZURICH
INSURANCE EUROPE AG., as well as change of its location
from Ireland to Germany.
ANNEX 34.4.3
LIST OF REPRESENTATIVE OFFICES OF FOREIGN REINSURERS IN
OPERATION
As of July 31, 2024
No.
Representative Office
Registration Number of the
Foreign Reinsurer
1
LLOYD ' S
RGRE-001-85-300001
2
MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT
RGRE-002-85-166641
3
SWISS REINSURANCE COMPANY LTD
RGRE-003-85-221352
4
GENERAL REINSURANCE AG
RGRE-012-85-186606
5
WESTPORT INSURANCE CORPORATION
RGRE-203-85-300177
6
LIBERTY MUTUAL INSURANCE COMPANY
RGRE-210-85-300184
7
MAPFRE RE COMPAÑÍA DE REASEGUROS, S.A.
RGRE-294-87-303690
8
RGA REINSURANCE COMPANY
RGRE-376-94-316539
9
BERKLEY INSURANCE COMPANY
RGRE-405-97-319746
10
PARTNER REINSURANCE COMPANY LTD
RGRE-446-97-318415
11
SCOR SE
RGRE-501-98-320966
12
SWISS REINSURANCE AMERICA CORPORATION
RGRE-795-02-324869
13
STARR INDEMNITY & LIABILITY COMPANY
RGRE-1003-09-327405
14
STARR INSURANCE & REINSURANCE LIMITED
RGRE-1126-13-328961
15
ODYSSEY REINSURANCE COMPANY
RGRE-1130-14-321014
16
HANNOVER RÜCK SE
RGRE -1177-15-299927
17
OCEAN INTERNATIONAL REINSURANCE COMPANY LIMITED
RGRE-1185-15-329063
18
SWISS RE CORPORATE SOLUTIONS AMERICA INSURANCE
CORPORATION
RGRE-1281-22-C0000
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