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posted 5 years ago
On June 29, 2020 the Official Gazette of the Federation published the “CIRCULAR 6/20 OF THE MEXICAN SOLE INSURANCE AND BONDING COMPANIES CIRCULAR” (the ” Circular 6/20″).
The Circular 6/20 establishes the minimum paid capital for Mexican Insurance and Bonding Companies for each kind of insurance operation they operate as follows:
Insurance Operations
| Operation | United States Dollars |
| Life | $1,898,959.11 (one million eight hundred ninety-eight thousand and nine hundred fifty-nine 11/100) |
| Pension Insurance | $7,799,773.80 (seven million seven hundred ninety-nine and seven hundred seventy-three 80/100) |
| Accidents and Health Insurance:
|
$474,739.63 (four hundred seventy-four thousand and seven hundred thirty-nine 63/100) |
|
Damages:
|
|
| One kind Insurance Operation | $1,424,219.19 (one million four hundred twenty-four thousand and two hundred nineteen 19/100) |
| Two kinds of Insurance Operations | $1,898,959.11 (one million eight hundred ninety-eight thousand and nine hundred fifty-nine 11/100) |
| Three or more kinds of Insurance Operations | $2,373,698.75 (two million three hundred seventy-three and six hundred ninety-eight 75/100) |
| Mortgage Insurance | $3,398,472.87 (three million three hundred and ninety-eight thousand and four hundred seventy-two 87/100) |
| Financial Guarantees | $9,248,303.22 (nine million two hundred forty-eight thousand and three hundred three 22/100) |
Bonding Operations
| BRANCH | United States Dollars calculated until December 31, 2019 |
|
Bonds:
|
|
| One kind of Bonding Operations | $2,036,383.88 (two million thirty-six thousand and three hundred eighty three 88/100) |
| Two kinds of Bonding Operations | $2,715,178.42 (two million seven hundred fifteen thousand and one hundred seventy eight 42/100) |
| Three or more kinds of Bonding Operations | $3,393,972.96 (three million three hundred ninety-three thousand and nine hundred seventy two 96/100) |
For the Insurance Institutions that are only authorized to practice Reinsurance operations, the minimum paid capital for each operation will be the 50% of the above mentioned amounts, with the exception of the Re-bonding operations which will be as follows.
| BRANCH | United States Dollars until December 31, 2019 |
|
Re-bonding:
|
|
| One kind of re-bonding operation | $1,018,191.94 (one million eighteen thousand and one hundred ninety-one 94-100) |
| Two kinds of re-bonding operations | $1,357,589.07 (one million three hundred and fifty-seven thousand and five hundred eighty-nine 07/100) |
| Three kinds of re-bonding operations | $1,696,986.48 (one million six hundred ninety-six thousand and nine hundred eighty-six 48/100) |
For more information, please contact to Alvaro Adame (alvaro.adame@agb.mx) or Ramiro Besil (ramiro.besil@agb.mx).
Rio Marne 17 First Floor Colonia Cuauhtémoc Alcaldía Cuauhtémoc CDMX 06500 México
(+52 55) 7155 8189 / (+52 55) 7095 1165 / www.agb.mx / info@agb.mx
posted 3 days ago
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