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Insurance and Reinsurance Alert - April 2026
Themes
AMENDMENTS IN THE INSURANCE SECTOR
Proposed Amendment to the Regulations Applicable to Insurance and Reinsurance Intermediaries, Insurance Auxiliaries, Foreign Reinsurance Companies, and Cross-Border Insurance Activities
The Superintendence of Banking, Insurance, and Private Pension Fund Administrators (SBS) has issued SBS Resolutions No. 00904-2026, 00905-2026, and 00906-2026, whereby it authorizes the publication for public consultation of the draft regulations approving the following:
- the Regulations on the Supervision and Oversight of Insurance Brokers and Insurance Auxiliaries;
- the Regulations on the Supervision and Oversight of Reinsurance Brokers; and
- the Regulations governing the Registry of Insurance Intermediaries and Auxiliaries, Foreign Reinsurance Companies, and Cross-Border Insurance Activities.
Purpose of the Amendments: To issue a new regulatory framework incorporating the changes identified in various aspects, such as the functions and obligations of reinsurance brokers, corporate bylaw amendments, the minimum capital requirements, the grounds for suspension and cancellation of registrations, as well as provisions related to corporate governance, external audit, among others.
Amendment of Infractions and Sanctions
Additionally, pursuant to SBS Resolution No. 01029-2026, published on April 10, 2026, the SBS has amended the Regulations on Infractions and Sanctions, approved by SBS Resolution No. 2755-2018, incorporating and modifying various infractions applicable to insurance system companies, as detailed below:
