Regulatory Alerts1997-01-08 | CD-SUPERINTENDENCIA-XLIX-1-97Added · Updated
Rules on Constitution and Calculation of Reserves
The document establishes minimum reserve requirements for insurance institutions, defining calculation methods for current risk reserves, pending obligation reserves, contingency reserves, and catastrophic risk reserves across various insurance lines. It mandates specific percentage-based calculations for direct and ceded reinsurance, sets minimum thresholds for unreported losses, and requires detailed valuation reports to be submitted to the Superintendence by February 28. The rules also authorize the Superintendence to impose additional capitalization or portfolio health reserves and specify the effective date upon personal delivery to authorized company officials.