Regulatory Alerts2019-08-19 | DOF 5568307Added
Office modifying the authorization granted to Insignia Life, S.A. de C.V. to operate as an insurance institution
The document modifies the authorization granted to Insignia Life, S.A. de C.V. to operate as an insurance institution. Specifically, the Preamble, Articles First and Third, base II, subsection a) of the authorization are amended to remove the explicit reference to a fixed capital amount. Instead, the authorization now states that the institution must maintain the minimum paid-in capital determined annually for each authorized operation or branch, expressed in Investment Units and covered in national currency, in accordance with Article 49, first paragraph, of the Law on Insurance and Surety Institutions. These resolutions must be published in the Official Gazette of the Federation and two widely circulated newspapers within 120 days of notification to Insignia Life, S.A. de C.V.