Regulatory Alerts2017-09-29 | DOF 5499425Added
Official Letter Modifying the Authorization Granted to HSBC Pensiones, S.A. to Operate as an Insurance Institution
The National Insurance and Bonding Commission modifies the authorization granted to HSBC Pensiones, S.A. to organize and operate as an insurance institution by eliminating the reference to a fixed minimum capital amount. The authorization now requires the institution to maintain a minimum paid-up capital determined annually for each authorized operation and line of business, expressed in Investment Units and paid in national currency. This change aligns the authorization with Article 49 of the Insurance and Bonding Institutions Law and follows the approval of a capital increase to $845,018,645.00.