Regulatory Alerts2018-01-22 | DOF 5511018Added
Office Order Modifying the Authorization Granted to Chubb Seguros Mexico, S.A.
The National Commission of Insurance and Sureties modifies the operating authorization for Chubb Seguros Mexico, S.A. (formerly Ace Seguros, S.A.) to reflect its corporate restructuring, including a name change and updated ownership structure as a subsidiary of Federal Insurance Company through Ally Insurance Holdings, LLC. The amendment replaces the specific line of business "earthquake and other catastrophic risks" with the broader term "catastrophic risks" and updates the capital requirement clause to reference the minimum paid-in capital determined annually in Investment Units rather than stating a fixed amount. The modified authorization explicitly defines the permitted lines of business, legal domicile, and statutory compliance requirements for the institution.