Regulatory Alerts2016-09-29 | DOF 5454675Added
Modificatory Circular 15/16 of the Single Circular on Insurance and Sureties
This circular amends the Single Circular on Insurance and Sureties to introduce a transitional calculation method for the maximum probable loss in the agricultural and livestock insurance line when technical bases cannot be applied, requiring zero deductions under specific conditions. It incorporates HR Ratings de México, S.A. de C.V. into the list of specialized rating agencies whose credit ratings may be used for solvency calculations, reinsurance recoverable estimates, and financial reinsurance operations. Additionally, it removes the requirement for insurance and surety institutions to contractually mandate Mexican financial entities to provide specific risk factor data for foreign investments, as this information is already available through price providers. The modifications take effect the day following publication in the Official Gazette.
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