Regulatory Alerts2017-12-22 | DOF 5508803Added
Official Letter Modifying the Authorization Granted to Seguros BBVA Bancomer, S.A. de C.V., Grupo Financiero BBVA Bancomer
The National Insurance and Sureties Commission modifies the authorization for Seguros BBVA Bancomer, S.A. de C.V., to remove the specific reference to the "Earthquake" line of business from its corporate purpose, as earthquake risks are now included under catastrophic risks. The resolution also updates the capital requirement clause to mandate that paid-in minimum capital be expressed in Investment Units and paid in national currency, replacing the previous fixed amount. These resolutions must be published in the Official Journal of the Federation and two widely circulated newspapers within 120 days of notification.