Regulatory Alerts2024-06-10 | DOF 5729953Added
Official Letter Modifying the Authorization to Organize, Operate, and Function as an Insurance Institution Granted to Compañía de Seguros Generales Everest México, S.A. de C.V.
The National Insurance and Bonds Commission modifies the authorization for Compañía de Seguros Generales Everest México, S.A. de C.V. (formerly XL Seguros México, S.A. de C.V.) to reflect a change in corporate name, a transition from a subsidiary to a Mexican insurance institution with foreign capital, and the removal of the "earthquake" line of business from its authorized scope. The resolution updates the authorized minimum paid-in capital requirement to be expressed in Investment Units and corrects references to repealed laws. The institution is also required to publish this official letter in the Official Gazette and two widely circulated newspapers within 120 days of notification.