Regulatory Alerts2017-12-19 | DOF 5508230Added
Official Letter Modifying the Authorization Granted to Tokio Marine Compañía de Seguros, S.A. de C.V. to Operate as an Insurance Institution
The National Insurance and Sureties Commission modifies the authorization for Tokio Marine Compañía de Seguros, S.A. de C.V. to remove the specific "Earthquake" line of business from its property damage operations, as earthquake risks are now classified under catastrophic risks. The resolution also updates the company's registered domicile from "Federal District" to "Mexico City" and replaces the fixed capital amount with a requirement to maintain minimum paid-in capital expressed in Investment Units and paid in national currency. These changes reflect amendments to the company's bylaws and comply with the Insurance and Surety Institutions Law.