Regulatory Alerts2020-06-29 | DOF 5595745Added
Modifying Circular 6/20 of the Single Insurance and Surety Bond Circular
This circular modifies Annex 6.1.2 of the Single Insurance and Surety Bond Circular to establish the minimum paid-in capital requirements for insurance institutions, expressed in Investment Units (UDI), as determined by the Bank of Mexico. The updated capital thresholds specify distinct UDI amounts for life insurance, pension insurance, accident and health coverage, property damage lines, and surety bonds, with specific provisions for reinsurance and reinsuring activities. These requirements apply to all authorized insurance and surety institutions operating in Mexico, mandating that they multiply the specified UDI figures by the official UDI value published in the Official Gazette on December 31 of the preceding year. The modification entered into force the day after its publication in the Official Gazette on June 29, 2020.