Regulatory Alerts2016-05-31 | DOF 5439349Added
Modificatory Circular 10/16 to the Single Insurance and Surety Circular
This circular amends provisions 5.4.1, 5.4.4, and 5.11.6 of the Single Insurance and Surety Circular to clarify the calculation of the risk margin using the previous month's Solvency Capital Requirement, update the investment fluctuation reserve for pension insurance, and specify the calculation system for Solvency Capital Requirement. It establishes a transitional regime allowing authorized insurance institutions to amortize deficits in current risk reserves for survival-based annuity plans over a maximum of five years, provided specific conditions are met and authorization is requested by June 30, 2016. Additionally, it sets the measurement parameter k to 26 until July 1, 2016, when it will increase to 30 for indexed currency in pension insurance solvency calculations, and updates the minimum paid-in capital values in Annex 6.1.2 based on the UDI value from December 31, 2015.