Regulatory Alerts2017-02-08 | DOF 5471229Added
Authorization for the organization and operation of Berkley International Seguros Mexico, S.A. de C.V.
The Federal Government, through the National Commission of Insurance and Bonding, authorizes Berkley Insurance Company to organize and operate the subsidiary insurance institution Berkley International Seguros Mexico, S.A. de C.V. through the related entity W.R. Berkley Mexico, S.A. de C.V. and shareholder W.R. Berkley Spain, S.L.U. The authorization permits the subsidiary to conduct damage operations in specific branches including civil liability, professional risks, marine and transport, fire, agricultural and animal, automobile, catastrophic, and diverse risks, as well as reinsurance and suretyship. The authorization is subject to obtaining a favorable opinion from the Commission within 180 days of the approval of the bylaws, and the entity must maintain a minimum fixed paid-in capital of $90,428,000.00 Mexican National Currency.