Regulatory Alerts2018-12-11 | CD-SIBOIF-1089-1-DIC11-2018Norm on Reforming Articles 2, 7, 8, and 16 of the Regulation on Investment Limits for Insurance, Reinsurance, and Surety Companies
The Superintendence of Banks and Other Financial Institutions (SIBOIF) issued Resolution No. CD-SIBOIF-1089-1-DIC11-2018 to reform investment limits for insurance, reinsurance, and surety companies in Nicaragua. The resolution updates definitions and caps domestic and foreign investments relative to the Investment Sufficiency Calculation Base to align with the new Accounting Framework based on IFRS. These provisions became effective upon notification, with accounting rules applying from January 1, 2019, and requiring immediate application during the IFRS 1 transition period.
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