Resolution JPRFM-2026-016-SP Approving Reforms to Transitional Provisions Third and Fourth of Chapter III "Mandatory Investment Norm for Companies Financing Prepaid Comprehensive Health Care Services" and Title VII "Technical Prudential Norms for Companies Financing Prepaid Comprehensive Health Care Services"

RESOLUTION No. JPRFM-2026-016-SP

THE FINANCIAL AND MONETARY POLICY AND REGULATION BOARD

CONSIDERING:

That, Article 226 of the Constitution of the Republic of Ecuador prescribes that public servants and persons acting under a state power shall exercise only the competencies and powers attributed to them in the Constitution and the Law;

That, Article 227 of the same instrument states that the Public Administration constitutes a service to the community governed by the principles of effectiveness, efficiency, quality, hierarchy, coordination, planning, among others;

That, the first paragraph of Article 303 of the constitutional norm determines that the formulation of monetary, credit, exchange, and financial policies is the exclusive faculty of the Executive Function and will be implemented through the Central Bank of Ecuador;

That, on October 13, 2025, the Organic Reform Law of the Organic Monetary and Financial Code was published in the Sixth Supplement of the Official Register No. 142;

That, Article 13 of the Organic Monetary and Financial Code creates the Financial and Monetary Policy and Regulation Board, part of the Executive Function, as an organ with functional, technical, and institutional autonomy, and in its decisions, responsible for the formulation of monetary, credit, financial, securities, insurance, and prepaid comprehensive health care services policy and regulation. The Financial and Monetary Policy and Regulation Board will be the highest governing body of the Central Bank of Ecuador;

That, Article 17 of the referred Code, in its pertinent part, determines that:

"(...) For the fulfillment of these functions, the Board will issue norms in matters within its competence, without being able to alter legal provisions. The Financial and Monetary Policy and Regulation Board may issue regulations by segments, economic activities, and other criteria. It may even reform or repeal regulations from the extinct Monetary Policy and Regulation Board, Financial Policy and Regulation Board, or Monetary and Financial Policy and Regulation Board.

All norms and policies issued by the Financial and Monetary Policy and Regulation Board in the exercise of its functions, duties, and powers must be backed by duly substantiated technical and legal reports (...)";

That, Article 18 of the same instrument establishes the specific functions of the Financial and Monetary Policy and Regulation Board. In particular, it empowers it to regulate the creation, constitution, organization, activities, operation, and liquidation of insurance entities; issue the prudential regulatory framework; dictate norms regulating insurance and reinsurance; and, apply the provisions of the Code, respectively, if applicable, based on proposals presented by the respective superintendencies, within their respective scopes of competence;

That, Article 24 of the same Code provides that the acts of the Financial and Monetary Policy and Regulation Board enjoy the presumption of legality and will be expressed through resolutions that will have mandatory force, which will govern from their publication in the Official Register, or from the date of their issuance when so determined by the Board, in accordance with the subject matter;

That, Article 25.2 of the same instrument determines that the Technical Secretariat of the Financial and Monetary Policy and Regulation Board is exercised by the Central Bank of Ecuador, and Article 25.3 establishes as its functions the preparation of technical and legal reports supporting regulation proposals, providing technical and administrative support to the Financial and Monetary Policy and Regulation Board, and those otherwise assigned by said Board;

That, Article 78 of the Organic Monetary and Financial Code establishes that the Superintendency of Companies, Values and Insurance will exercise surveillance, auditing, intervention, control, and supervision of the securities market, the insurance regime, and non-financial private law legal entities;

That, the "Organic Law Regulating Companies that Finance Prepaid Comprehensive Health Care Services and Insurance Companies Offering Medical Assistance Insurance Coverage," in its First General Provision, foresees that the Financial and Monetary Policy and Regulation Board has the faculty to issue regulations applicable to companies that finance prepaid comprehensive health care services, of an economic, financial, and accounting nature; and, regarding the methodology and method of calculating technical reserves, established in this Law and those determined by the Superintendency of Companies, taking into account their characteristics and specifics;

That, the Twenty-Ninth General Provision of the same instrument states: "In existing legislation where mention is made, indistinctly, of the Monetary and Financial Policy and Regulation Board, the Monetary Policy and Regulation Board; or, the Financial Policy and Regulation Board, replace and understand as 'Financial and Monetary Policy and Regulation Board';

That, the First Transitional Provision of the Organic Reform Law of the Organic Monetary and Financial Code determines that the members of the Financial and Monetary Policy and Regulation Board, sworn in on September 16, 2025, by the National Assembly, will continue to exercise their functions for the periods for which they were designated and will maintain their labor continuity and acquired rights;

That, through Office No. T.233-SGJ-25-098, dated September 5, 2025, signed by the Constitutional President of the Republic, addressed to the President of the National Assembly, the list of candidates for the designation of the Members of the Financial and Monetary Policy and Regulation Board was sent; as well as, the temporality of their stay within the initial period;

That, the Plenary of the National Assembly, on September 16, 2025, designated and swore in the members of the Financial and Monetary Policy and Regulation Board, in the persons of: Gustavo Estuardo Camacho Dávila; Silvia Daniela Moya Arteta; Roberto Javier Basantes Romero; and, María Isabel Camacho Cárdenas;

That, the Superintendency of Companies, Values and Insurance, through Office No. SCVS-INS-2026-00062307-O, dated April 1, 2026, sent the Technical and Legal Report, of the same date, in which, among others, it requested the extension of the deadlines for the First, Third, and Fourth Transitional Provisions of Chapter III "Mandatory Investment Norm for Companies Financing Prepaid Comprehensive Health Care Services", Title VII "Technical Prudential Norms for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities, and Insurance Resolutions;

That, the Financial and Monetary Policy and Regulation Board, through Extraordinary Session No. 010-2026, under electronic modality, on April 8, 2026, reviewed the proposal sent through Memorandum No. BCE-BCE-2026-0128-M, dated April 7, 2026, by the General Manager of the Central Bank of Ecuador to the President of the Financial and Monetary Policy and Regulation Board; as well as, Technical Report No. BCE-GEEE-027-2026 / BCE-SEMF-031-2026, dated April 7, 2026; and, Legal Report No. BCE-GJ-037-2026, dated April 7, 2026; and,

In exercise of its functions and in attention to Article 24 of the Organic Monetary and Financial Code, the Financial and Monetary Policy and Regulation Board,

RESOLVES:

Article 1.- In the Third Transitional Provision of Chapter III "Mandatory Investment Norm for Companies Financing Prepaid Comprehensive Health Care Services", Title VII "Technical Prudential Norms for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities, and Insurance Resolutions, replace the text "one (1) year" with the following: "fifteen (15) months".

Article 2.- In the Fourth Transitional Provision of Chapter III "Mandatory Investment Norm for Companies Financing Prepaid Comprehensive Health Care Services", Title VII "Technical Prudential Norms for Companies Financing Prepaid Comprehensive Health Care Services", Book III "Private Insurance System" of the Codification of Monetary, Financial, Securities, and Insurance Resolutions, replace the text "one (1) year" with the following: "fifteen (15) months".

FINAL PROVISION. - This resolution will enter into force from its issuance, without prejudice to its publication in the Official Register.

The General Secretariat of the Central Bank of Ecuador is entrusted with its publication on the institutional website and the updating of the Codification of Monetary, Financial, Securities, and Insurance Resolutions.

COMMUNICATE AND PUBLISH. - Given in the city of Quito D.M., on April 8, 2026.

THE PRESIDENT

Mgs. Gustavo Estuardo Camacho Dávila

The resolution above was processed and signed by Master Gustavo Estuardo Camacho Dávila - President of the Financial and Monetary Policy and Regulation Board, in the city of Quito D.M., on April 8, 2026.- I CERTIFY.

TECHNICAL SECRETARIAT

Attorney Ninoska Geovanna Ceballos Pin