June 10, 2024 - This month, the Financial Market Commission (CMF) published for consultation today a regulation Amending Circular Letter No. 2,275, which establishes monthly financial and solvency information requirements applicable to insurance and reinsurance companies. The proposal amends Circular Letter No. 2,275 as follows:
- Systematize current information requirements regarding solvency projections set forth by Official Notice No. 16,618 dated February 22, 2022; and add them to the current Circular Letter on Monthly Financial Statements.
- Include new accounts in currently required financial information, as well as making an opening on the "Brief Reasoned Analysis" section.
These amendments will strengthen and perfect the supervisory process and prudential analysis of insurance companies to adequately safeguard their solvency and fulfillment of commitments made with policyholders. The regulation considers the addition of prospective financial information, enabling preventive supervision and anticipation of unfavorable scenarios that may affect companies.
Interested parties can check the Draft Rules and Norms section of the CMF website until July 10, 2024 to check the regulatory proposal in detail and submit their feedback.
