Regulatory Alerts2024-10-07 | DOF 5740415Added
Modifying Circular 7/24 to the Single Insurance and Surety Circular
The National Insurance and Sureties Commission amends Provision 8.2.3, fraction XXV, subsection a), item 1 of the Single Insurance and Surety Circular to allow insurance institutions to cover their investment base with recoverable reinsurance amounts for life insurance operations with a duration of one year or less. This change expands the eligible assets by including life insurance reserves, in addition to accident, sickness, and property damage operations, specifically for contracts defined under Article 217 of the Insurance and Surety Institutions Law. The modification enters into force the day following its publication in the Official Gazette of the Federation.
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