Regulatory Alerts2017-09-25 | DOF 5498427Added
Official Letter Revoking Authorization for Istmo Mexico Reinsurance Company to Operate as an Insurance Institution
The National Insurance and Bonds Commission revokes the authorization for Istmo Mexico, Compañía de Reaseguros, S.A. de C.V. to operate as an insurance institution due to probable violations of solvency and investment base coverage requirements. The revocation follows the company's failure to submit a required regularization plan to address significant shortfalls in its investment base, solvency capital requirement, and paid minimum capital as of December 31, 2016. The decision cites the company's inability to meet regulatory obligations amidst the forced liquidation of its principal reinsurer in Panama.
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