Regulatory Alerts2019-03-15 | DOF 5553083Added
Official Letter Modifying the Authorization Granted to Reaseguradora Patria, S.A., to Organize and Operate as an Insurance Institution
The National Commission of Insurance and Sureties modifies the authorization granted to Reaseguradora Patria, S.A., to restrict its corporate purpose exclusively to the practice of reinsurance as defined in Article 39 of the Insurance and Sureties Institutions Law, removing references to operations and lines of business established in Article 25. The resolution updates Articles First, Second, and Third of the institution's authorization, confirming its exclusive authorization to underwrite reinsurance for persons, property, liabilities, and sureties, while maintaining its social capital of one billion pesos and its domicile in Mexico City. The institution is required to publish these resolutions in the Official Gazette of the Federation and two widely circulated newspapers within 120 days of notification.