JPRF-M-2025-0170 — Reforms to Chapter III "Mandatory Investment Standard for Companies Financing Prepaid Comprehensive Health Care Services" of Title VII "Technical Prudential Standards for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities and Insurance Resolutions

Address: Av. Amazonas between Pereira and Unión Nacional de Periodistas Governmental Financial Management Platform. Red Block, 8th floor | Postal Code: 170507 | Quito - Ecuador | Resolution No. JPRF-M-2025-0170 THE FINANCIAL AND MONETARY POLICY AND REGULATION BOARD CONSIDERING:
That, Article 82 of the Constitution of the Republic of Ecuador prescribes that the right to legal certainty is based on respect for the Constitution and the existence of prior, clear, public legal norms applied by competent authorities; That, Article 84 of the Supreme Norm prescribes that any body with normative power shall have the obligation to formally and materially adapt laws and other legal norms to the rights provided for in the Constitution; That, Article 226 of the Fundamental Norm precepts that State institutions, their bodies, dependencies, public servants, and persons acting by virtue of a state power shall exercise only the competencies and faculties attributed to them in the Constitution and the law; having the duty to coordinate actions for the fulfillment of their purposes and to make effective the enjoyment and exercise of the rights recognized in the Constitution; That, Article 227 of the Magna Carta establishes that public administration constitutes a service to the community that is governed by the principles of effectiveness, efficiency, quality, hierarchy, decentralization, coordination, participation, planning, transparency, and evaluation; That, the Organic Law of Public Integrity, published in the Third Supplement of the Official Register No. 68 of June 26, 2025, reformed several articles of Book I of the Organic Monetary and Financial Code, among them, it substituted Article 13 and created the Financial and Monetary Policy and Regulation Board, part of the Executive Function, as a public law legal entity, responsible for the formulation of monetary, credit, financial, securities, insurance, and prepaid comprehensive health care services policy and regulation; That, the Fourth Transitional Provision of the Organic Law for the Strengthening of Protected Areas provides that, both the structure and the faculties of the Financial and Monetary Policy and Regulation Board, provided for in the Organic Monetary and Financial Code before June 26, 2025, shall remain in force until the designation of the members of the Financial and Monetary Policy and Regulation Board by the National Assembly; That, Article 13 of the Organic Monetary and Financial Code, Book I, prior to the reform of June 26, 2026, established that the Financial and Monetary Policy and Regulation Board is part of the Executive Function, as a public law legal entity, with administrative, financial, and operational autonomy, responsible for the formulation of credit, financial, securities, insurance, and prepaid comprehensive health care services policy and regulation; That, Article 14 ibidem, prior to the reform of June 26, 2025, in its numbers 1, 2, and 3, determined that, within the scope of the Financial and Monetary Policy and Regulation Board, it corresponded to formulate the policy for prepaid comprehensive health care services; as well as, to issue regulations that allow maintaining the comprehensiveness, solidity, sustainability, and stability of prepaid
comprehensive health care services; and, to issue micro-prudential regulations for prepaid comprehensive health care services; determining that, for the fulfillment of said functions, the referred Board would issue norms in the matters proper to its competence, without being able to alter legal provisions; being able to issue norms by segments, economic activities, and other criteria; That, the referred Organic Code, in its Article 14.1 prior to the reform of June 26, 2026, prescribed that, for the performance of its functions, the Financial and Monetary Policy and Regulation Board must comply with certain duties and exercise certain faculties; among which were those indicated in its numbers 1, 7, and 27, which were: to regulate the creation, constitution, organization, activities, operation, and liquidation of prepaid comprehensive health care service entities; to issue the prudential regulatory framework to which companies financing prepaid comprehensive health care services must be subject, framework that must be coherent and not give rise to regulatory arbitrage; and, to exercise the other functions, duties, and faculties assigned to it by the cited Code and the law;

Resolution No. JPRF-M-2025-0170

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Address: Av. Amazonas between Pereira and Unión Nacional de Periodistas Governmental Financial Management Platform. Red Block, 8th floor | Postal Code: 170507 | Quito - Ecuador | That, Article 1 of the Organic Law that Regulates Companies that Finance Prepaid Comprehensive Health Care Services and Insurance Companies that Offer Medical Assistance Insurance Coverage, states that the object of said law is to regulate the constitution and functioning of companies that finance prepaid comprehensive health care services; to regulate, supervise, and control the provision of said services to guarantee the full exercise of users' rights; to establish the faculties and attributions to establish and approve the content of prepaid comprehensive health care and medical assistance insurance plans and contracts; as well as to determine the competence for the application of the sanctioning regime and the resolution of controversies; That, in accordance with what is stated in Article 2 ibidem, the Organic Law that Regulates Companies that Finance Prepaid Comprehensive Health Care Services and Insurance Companies that Offer Medical Assistance Insurance Coverage is applicable to all activities that companies financing prepaid comprehensive health care services develop, in fulfillment of their corporate object; That, Article 3 of the aforementioned organic law determines as guiding principles for the application of said law, those of legality, juridicity, inclusion, equity, precaution, equality, non-discrimination, sustainability, bioethics, gradualism, sufficiency, efficiency, effectiveness, transparency, timeliness, quality, warmth, free competition, responsibility, and participation; That, Article 10 of the Organic Law that Regulates Companies that Finance Prepaid Comprehensive Health Care Services and Insurance Companies that Offer Medical Assistance Insurance Coverage, when referring to solvency regimes, equity, technical reserves, and provisions, prescribes that companies financing prepaid comprehensive health care services must maintain, at all times, solvency requirements, based on technical equity, mandatory investments, as constituted and accounted technical reserves, calculated by qualified actuaries, which will comprise: reserves for services provided and not reported, reserves for services provided and reported; and, those others determined by the Superintendence of Companies, Securities and Insurance; That, Article 17 of the cited organic law states, in its numbers 1 and 8, that the Superintendence of Companies, Securities and Insurance, with respect to companies financing prepaid comprehensive health care services, will have, among others, the faculties of corporate, financial, and non-health contractual supervision and control, in accordance with what is established in the Companies Law, Organic Monetary and Financial Code, the Organic Law that Regulates Companies that Finance Prepaid Comprehensive Health Care Services and Insurance Companies that
Offer Medical Assistance Insurance Coverage, and, the regulations, resolutions, and more current normative; as well as, the other faculties provided for in the Law; That, the First General Provision of the Organic Law that Regulates Companies that Finance Prepaid Comprehensive Health Care Services and Insurance Companies that Offer Medical Assistance Insurance Coverage, provides that the Financial and Monetary Policy and Regulation Board, provided for in the Organic Monetary and Financial Code, will have the faculty to issue regulations applicable to companies financing prepaid comprehensive health care services, of an economic, financial, and accounting nature; and, in relation to the methodology and form of calculation of the technical reserves, established by said law and those determined by the Superintendence of Companies, Securities and Insurance, in accordance with what is provided in Article 10 of the cited Organic Law, taking into account obligatorily their characteristics and specificities; That, the Forty-Fourth Transitional Provision of the previously mentioned Code determines the transitional regime of resolutions of the Codification of the Financial and Monetary Policy and Regulation Board, establishing that: "(...) The resolutions contained in the Codification of Monetary, Financial, Securities and Insurance Resolutions of the Financial and Monetary Policy and Regulation Board and the norms issued by the control bodies will maintain their validity until the Financial and Monetary Policy and Regulation Board and the Financial and Monetary Policy and Regulation Board resolve what corresponds, within the scope of their competencies."; That, the Twentieth Transitional Provision of the General Regulation to the Organic Law of Public Integrity states that the resolutions contained in the Codification of Monetary, Financial, Securities and Insurance Resolutions issued by the Financial and Monetary Policy and Regulation Board and by the

Resolution No. JPRF-M-2025-0170

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Address: Av. Amazonas between Pereira and Unión Nacional de Periodistas Governmental Financial Management Platform. Red Block, 8th floor | Postal Code: 170507 | Quito - Ecuador | Financial and Monetary Policy and Regulation Board will maintain their validity until the Financial and Monetary Policy and Regulation Board adopts the corresponding decisions within the scope of their competencies; That, through Resolution JPRF-M-2025-0147 of April 9, 2025, the Financial and Monetary Policy and Regulation Board issued the "Mandatory Investment Standard for Companies Financing Prepaid Comprehensive Health Care Services", contained in Chapter III "Mandatory Investment Standard for Companies Financing Prepaid Comprehensive Health Care Services" of Title VII "Technical Prudential Standards for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities and Insurance Resolutions, which establishes in its transitional provisions the parameters and criteria for the application of its provisions; That, through Letter No. 005-DE-AEEMIP-2025 of July 3, 2025, the Ecuadorian Association of Prepaid Comprehensive Medicine Companies submitted to the Financial and Monetary Policy and Regulation Board the "TECHNICAL-LEGAL REPORT FOR THE REFORM OF RESOLUTION JPRF-M-2025-0147 – MANDATORY INVESTMENTS FOR COMPANIES THAT FINANCE PREPAID COMPREHENSIVE HEALTH CARE SERVICES", in which -as the associative body of prepaid health companies- they request, justify, and motivate the need to reform the First and Fifth Transitional Provisions of the "Mandatory Investment Standard for companies financing prepaid comprehensive health care services"; That, through Resolution JPRF-M-2025-0165 of September 2, 2025, the Financial and Monetary Policy and Regulation Board reformed Chapter III "Mandatory Investment Standard for Companies Financing Prepaid Comprehensive Health Care Services" of Title VII "Technical Prudential Standards for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities and Insurance Resolutions, through the inclusion of the Sixth and Seventh General Provisions, relating to the update of the normative schedule and the periodicity of mandatory investment reports; the substitution of the deadline for the full implementation of the norm by the deadline of December 31, 2026; the extension to one year of the operational adaptation period indicated in the Fifth Transitional Provision; and the repeal of the Seventh Transitional Provision; That, the Technical Secretary of the Financial and Monetary Policy and Regulation Board, through Memorandum No. JPRF-ST-2025-0058-M of September 12, 2025, submits to the President of the Board the Technical-Legal Report No. JPRF-CTCJ-2025-007 of September 12, 2025, as well as the respective draft resolution; That, the Financial and Monetary Policy and
Regulation Board, in an ordinary session held by technological means, convened on September 12, 2025 and carried out through video conference on September 15, 2025, learned of Memorandum No. JPRF-ST-2025-0058-M of September 12, 2025, issued by the Technical Secretary of the Board; as well as the Technical-Legal Report No. JPRF-CTCJ-2025-007 of September 12, 2025, issued by the Technical Secretariat of this Board, and the corresponding draft resolution; That, the Financial and Monetary Policy and Regulation Board, in an ordinary session held by technological means, convened on September 12, 2025 and carried out through video conference on September 15, 2025, learned of and approved the following Resolution; and, In exercise of its functions, RESOLVES:
ARTICLE FIRST.- In the text of the Sixth General Provision of Chapter III "Mandatory Investment Standard for Companies Financing Prepaid Comprehensive Health Care Services", of Title VII "Technical Prudential Standards for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities and Insurance Resolutions, substitute the text "October 1, 2025" for: "October 31, 2025".

Resolution No. JPRF-M-2025-0170

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Address: Av. Amazonas between Pereira and Unión Nacional de Periodistas Governmental Financial Management Platform. Red Block, 8th floor | Postal Code: 170507 | Quito - Ecuador |
ARTICLE SECOND.- In the text of the Seventh General Provision of Chapter III "Mandatory Investment Standard for Companies Financing Prepaid Comprehensive Health Care Services", of Title VII "Technical Prudential Standards for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities and Insurance Resolutions, substitute the text "January 29, 2027" for: "July 30, 2027".
ARTICLE THIRD.- In the text of the First Transitional Provision of Chapter III "Mandatory Investment Standard for Companies Financing Prepaid Comprehensive Health Care Services", of Title VII "Technical Prudential Standards for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities and Insurance Resolutions, substitute the text "December 31, 2026" for: "June 30, 2027".
ARTICLE FOURTH.- In the text of the Third Transitional Provision of Chapter III "Mandatory Investment Standard for Companies Financing Prepaid Comprehensive Health Care Services", of Title VII "Technical Prudential Standards for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities and Insurance Resolutions, substitute the text "six (6) months" for: "one (1) year".
ARTICLE FIFTH.- In the text of the Fourth Transitional Provision of Chapter III "Mandatory Investment Standard for Companies Financing Prepaid Comprehensive Health Care Services", of Title VII "Technical Prudential Standards for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities and Insurance Resolutions, substitute the text "six (6) months" for: "one (1) year".
SINGLE GENERAL PROVISION.- The Superintendence of Companies, Securities and Insurance will communicate to the respective controlled entities the content of this Resolution.
FINAL PROVISION.- This Resolution will enter into force from the present date, without prejudice to its publication in the Official Register, and will be published on the institutional website of the Financial and Monetary Policy and Regulation Board within a maximum term of two days from its issuance.
COMMUNICATE.- Given in the Metropolitan District of Quito, on September 15, 2025.
THE PRESIDENT,
Mgs. María Paulina Vela Zambrano
The preceding Resolution was processed and signed by Master María Paulina Vela Zambrano, President of the Financial and Monetary Policy and Regulation Board, in the Metropolitan District of Quito, on September 15, 2025.- I CERTIFY.
TECHNICAL SECRETARY,
Mgs. Luis Alfredo Olivares Murillo