Quick search
CTRL+K
Quick search
CTRL+K
Since 2010, the Global Law Experts annual awards have been celebrating excellence, innovation and performance across the legal communities from around the world.
posted 4 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 ([email protected]) or Ramiro Besil ([email protected]).
Rio Marne 17 First Floor Colonia Cuauhtémoc Alcaldía Cuauhtémoc CDMX 06500 México
(+52 55) 7155 8189 / (+52 55) 7095 1165 / www.agb.mx / [email protected]
Find the right Legal Expert for your business
Sign up for the latest legal briefings and news within Global Law Experts’ community, as well as a whole host of features, editorial and conference updates direct to your email inbox.
Naturally you can unsubscribe at any time.
Global Law Experts is dedicated to providing exceptional legal services to clients around the world. With a vast network of highly skilled and experienced lawyers, we are committed to delivering innovative and tailored solutions to meet the diverse needs of our clients in various jurisdictions.
![LEGAL NEWS
On 7/3/2024, the Kuala Lumpur High Court in the case of Suriati binti Mohd Yusof v CTOS Data Systems Sdn Bhd [2024] MLJU 437; CLJU 440; (Civil Suit No. WA-23NCvC-8-01/2020) ruled that credit reporting agencies are not empowered to formulate a credit score or create their own criteria/percentage to formulate a credit score.
Read more at https://globallawexperts.com/credit-reporting-agencies-are-not-authorised-to-formulate-their-own-credit-score/
.
.
.
.
#business #entrepreneur #motivation #success #marketing #money #love #mindset #entrepreneurship #inspiration #smallbusiness #instagood #businessowner #instagram #lifestyle #goals #life #startup #bhfyp #digitalmarketing #follow #motivationalquotes #branding #design #quotes #investment #fashion #finance #work](https://scontent-cdg4-2.cdninstagram.com/v/t51.2885-15/439575309_1498069631128202_5251657145469121856_n.jpg?_nc_cat=103&ccb=1-7&_nc_sid=18de74&_nc_eui2=AeFFGNTcQF7D82VSpP8pq6swAqpFuG06zfUCqkW4bTrN9Zp2u-OJehL0QHRpRJgPSG1MZ9RWq390QpkxqNZuLSnA&_nc_ohc=N-LWScsFlusQ7kNvgGVvB5e&_nc_ht=scontent-cdg4-2.cdninstagram.com&edm=AM6HXa8EAAAA&oh=00_AfCoPBqxSS5PdcIGQRD2btIlJMxGWsd5xp8zU7rnsG9Vgw&oe=66320FBB)
