Regulatory Alerts2017-06-05 | DOF 5485416Added
Official Letter Authorizing the Organization and Operation of Swiss Re Corporate Solutions México Seguros, S.A. de C.V.
The Federal Government, through the National Commission of Insurance and Bonds, authorizes Swiss Re Corporate Solutions Ltd. and Swiss Reinsurance Company Ltd. to organize and operate an insurance institution named Swiss Re Corporate Solutions México Seguros, S.A. de C.V. The authorization permits the conduct of damage operations in the lines of civil liability and professional risks, marine and transport, fire, agricultural and animal, catastrophic and miscellaneous risks, as well as reinsurance related to these lines. This authorization is subject to the institution obtaining a favorable opinion under Article 47 of the Insurance and Bonds Institutions Law within 180 days from the approval of its bylaws; otherwise, the authorization becomes void. The resolutions must be published in the Official Journal of the Federation and two widely circulated newspapers within 120 days of notification.