Regulatory Alerts2018-08-17 | DOF 5535177Added
Official Letter Modifying the Authorization Granted to Bupa Mexico, Insurance Company, S.A. de C.V.
The National Insurance and Bonds Commission modifies the authorization for Bupa Mexico, Insurance Company, S.A. de C.V. to operate as an insurance institution by updating the preamble and Articles One and Three of its charter. Specifically, the fixed minimum capital amount is replaced with a variable capital requirement, mandating that the paid-in minimum capital be determined annually for each authorized operation or line of business, expressed in Investment Units and paid in national currency. The resolution also mandates publication of these changes in the Official Gazette and two widely circulated newspapers within 120 days of notification.