Regulatory Alerts2019-02-28 | DOF 5551435Added
Official Letter modifying the authorization granted to Old Mutual Life, S.A. de C.V. to operate as an insurance institution
The National Insurance and Bonds Commission modifies the authorization for Old Mutual Life, S.A. de C.V. to operate as a subsidiary of the foreign financial institution Old Mutual Seguros de Vida, S.A. (Colombia). The resolution updates the authorized articles to reflect a new shareholding structure, changes the social domicile to Mexico City, and replaces the fixed capital amount with a variable capital requirement based on annual minimum paid-in capital per authorized line of business. The institution must publish these resolutions in the Official Gazette and two widely circulated newspapers within 120 days of notification.