Changes to insurance companies investment regulations – RIGI
Department of Insurance & Reinsurance report | Changes to insurance companies investment regulations – RIGI
On October 3 of this year, the Summarized Resolution 498/2024 (“Resolution”) issued by the National Superintendency of Insurance (“SSN”) was published in the Official Gazette.
The Resolution aimed to incorporate Warrants as an investment instrument for determining the situation of the Coverage State regarding the investments that insurers and reinsurers must make in accordance with subsection l) of Item 35.8.1 of the General Regulation of Insurance Activity (“RGAA”).
As provided in the Resolution, it was considered necessary to enable investment in instruments that accompany investments of a productive nature, thus generating new incentives for those projects that fall within the Incentive Regime for Large Investments (“RIGI”).
To this end, the Resolution incorporated as subsection xi of section l) of item 35.8.1. (Investments eligible for the Coverage State) of the RGAA the following text: “xi. Loans guaranteed with warrant (Act No. 9,643 – Decree No. 640/2024), up to 50% of the market value of those securities, up to a maximum of 20% of the indicated minimum.”
Finally, the Resolution incorporated as subsection vii of section m) of item 35.8.1. of the RFAA the following text: “vii. Negotiable Obligations and Financial Trusts authorized by the National Securities Commission whose purpose is that provided for investments under the Incentive Regime for Large Investments (RIGI)”.
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