25 years
of experience
We have obtained
20+ Awards
Time in Mexico

INSURANCE AND REINSURANCE

About the area

En bgbg, el área de Seguros y Reaseguros asesora a los principales participantes del sector asegurador mexicano —instituciones de seguros y fianzas, reaseguradoras, intermediarios y <agentes — en la estructuración, operación y resolución de asuntos complejos, desde la constitución y autorización de entidades hasta el diseño de productos, la negociación de contratos y la atención de controversias.

We have attorneys with practical experience in applying the Insurance and Surety Institutions Act (LISF) and the regulatory provisions derived from that law, as well as in direct interaction with the National Insurance and Surety Commission (CNSF). This enables us to provide advice based on a thorough understanding of actual regulatory expectations and the oversight and authorization processes involved in operating in this sector.

Our approach integrates regulatory considerations with an understanding of the insurance business, enabling us to design solutions that work effectively from both a legal and operational standpoint. This includes insurance and reinsurance structures that involve interactions among multiple parties, jurisdictions, and regulatory frameworks

Clients and industries

We advise insurance and surety companies, domestic and international reinsurers, reinsurance brokers, insurance agents, as well as financial groups and companies operating in the insurance sector through digital models or non-traditional distribution channels.

We also work with international clients seeking to establish operations in Mexico or who need to adapt their corporate and contractual structures to the local regulatory framework.

Main Services

Incorporation, Authorization, and Regulation of Entities

We provide advisory services regarding the formation and licensing of insurance companies, surety bond companies, and intermediaries before the CNSF and the SHCP, including corporate structuring, the preparation of regulatory documentation, and support throughout the licensing process. We also advise on amendments to articles of incorporation, mergers, spin-offs, and liquidations of entities in the sector.

Product development and approval

Consulting services for the design, structuring, and approval of insurance and surety products, including the preparation and filing of general terms and conditions, technical notes, and rate schedules with the CNSF. Special focus on the implementation of new products, complex coverage, and products for digital distribution or via technology platforms.

Reinsurance and fronting

Advice on the structuring and negotiation of proportional and non-proportional reinsurance contracts, including automatic treaties, facultative contracts, and fronting agreements. Expertise in standard international reinsurance market documentation and the regulatory obligations applicable in Mexico for foreign reinsurers operating in the country.

Contracts and documentation

Drafting, negotiating, and structuring contractual documents for the insurance sector, including insurance policies, agency agreements, brokerage agreements, distribution agreements, and other contractual documents specific to the industry. We serve as legal advisors to the CNSF, which enables us to identify contractual risks with a thorough understanding of the applicable regulatory criteria.

Solvency, Capital, and Investment Rules

Consulting services regarding compliance with solvency capital requirements, solvency margins, and investment regulations in accordance with the LISF and the general provisions issued by the CNSF. This is particularly relevant for institutions in the process of expansion, financial groups, and foreign entities considering operations in Mexico. This support is essential for entities undergoing the authorization process, expansion, or adaptation of international structures to the Mexican market.

Digital distribution and insurtech

Consulting on the structuring of insurance distribution models through digital platforms, apps, comparison sites, and non-traditional channels, including microinsurance and embedded insurance. We take into account the specific regulations issued by the CNSF regarding digitalization and how they interact with the Fintech Law framework when the model involves financial technology institutions.

Disputes, claims, and regulatory litigation

Representation and legal counsel in disputes arising from coverage claims, disputes between insurers and intermediaries, and arbitration or mediation proceedings. Assistance in administrative proceedings before the CNSF and CONDUSEF, including appeals, defenses, and conciliation proceedings.

Bonds

Specialized consulting services in the structuring, issuance, and execution of surety bonds, including fidelity, judicial, administrative, and credit bonds. Expertise in the regulatory specifics of the surety bond regime under the LISF and in coordinating with beneficiaries and obligors in complex transactions.

Regulatory Compliance and AML/CFT

To address the insurance sector’s specific needs regarding compliance, anti-money laundering, and personal data protection, we work in coordination with bgbg’s specialized Compliance department, ensuring comprehensive advice that is consistent with the regulatory framework applicable to each entity.

Testimonials

Clients are quick to praise the firm, saying enthusiastically: “The service they provide is highly satisfactory. They understand the client’s needs and have a good sense of urgency.”

Chambers and Partners Latin America 2020 client feedback on the Banking & Finance Department

“The service is of a very high standard; they are very thorough and up-to-date on all matters, and the partners are always available and deliver on time.”

Chambers and Partners Latin America 2020 client feedback on the Compliance Department

Our team combines technical expertise in the regulatory framework of the Mexican insurance sector with practical experience in real-world operations, enabling us to anticipate risks, navigate regulatory processes, and design effective solutions both for interactions with regulatory authorities and for our clients’ day-to-day operations.

We understand the insurance industry and recognize that it is a constantly evolving environment, where regulations, products, and distribution channels require a comprehensive approach. That is why we offer business-oriented consulting services that enable us to support our clients and give them the confidence to operate with certainty within complex structures and demanding regulatory environments.

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