Regulatory Alerts2021-10-28 | DOF 5633950Added · Updated
Official Letter Modifying the Authorization for Solunion Mexico Credit Insurance, S.A. to Organize, Operate, and Function as an Insurance Institution
The National Insurance and Sureties Commission modifies the authorization granted to Solunion Mexico Credit Insurance, S.A. to update the names of its foreign financial institution and related company to Solunion Seguros and Solunion America Holding, S.L., replace references to the repealed General Law of Insurance and Mutual Insurance Companies with the current Insurance and Sureties Institutions Law, and specify that its social capital must be expressed in Investment Units and paid in national currency. The resolution also formally establishes the subsidiary's domicile in the State of Mexico and confirms its authorization to underwrite damage insurance in the credit line. The institution is required to publish this official letter in the Official Gazette of the Federation and two widely circulated newspapers within 120 days of notification.