Regulatory Alerts2017-09-01 | DOF 5495905Added
Official Letter Authorizing Fianzas y Cauciones Atlas, S.A. to Organize and Operate as an Insurance Institution
The National Commission of Insurance and Sureties authorizes Fianzas y Cauciones Atlas, S.A. to organize and operate as an insurance institution in the suretyship line of business, including related surety sub-lines. This authorization is subject to the institution obtaining a favorable opinion from the Commission within 180 days of the approval of its comprehensive bylaws reform. The institution's authorized capital is increased to 120 million Mexican pesos, and it is permitted to conduct damage insurance operations and issue various types of sureties, including fidelity, judicial, administrative, and credit sureties.