Regulatory Alerts2017-06-01 | DOF 5485019Added
Modification of the authorization granted to Grupo Nacional Provincial, S.A.B. to operate as an insurance institution
The National Commission of Insurance and Sureties modifies the authorization granted to Grupo Nacional Provincial, S.A.B. to reflect changes in its bylaws, specifically replacing the reference to "Distrito Federal" with "Ciudad de México" in its social domicile and updating the insurance line "Earthquake and other catastrophic risks" to "Catastrophic risks". The resolution also replaces the fixed capital amount with a requirement to maintain the minimum paid-in capital determined annually for each authorized operation and line of business, expressed in Investment Units and paid in national currency. Grupo Nacional Provincial, S.A.B. is required to publish these resolutions in the Official Gazette and two widely circulated newspapers within 120 days of notification.