Regulatory Alerts2015-12-08 | DOF 5419126Added · Updated
Official Letter Authorizing Zurich Insurance Company, Ltd. to Organize and Operate Zurich Fianzas Mexico, S.A. de C.V.
The Secretariat of Finance and Public Credit authorizes Zurich Insurance Company, Ltd. to organize and operate a subsidiary surety institution named Zurich Fianzas Mexico, S.A. de C.V. The authorization permits the subsidiary to conduct surety operations across fidelity, judicial, administrative, credit, and guarantee trust branches. The subsidiary must present its public deed of incorporation within three months of the authorization and commence operations within three months of that deed's approval, subject to a favorable inspection opinion from the National Commission of Insurance and Bonds. The authorization is non-transferable and subject to the payment of minimum paid-in capital as determined by the Secretariat for the relevant year.