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CMF suspends insurance sales by Seguros Konsegur de Garantías y Crédito S.A. for non-compliance with solvency indicators

December 2, 2022 - The Board of the Financial Market Commission (CMF) has resolved to temporarily suspend the sales of insurance provided by Seguros Konsegur de Garantías y Crédito S.A. According to Resolution No. 7,993, the Board's decision is based on Konsegur's non-compliance with various solvency criteria like minimum equity; net equity; investment surplus; and debt indicators.

Equity and financial requirements set forth in the Insurance Law are intended to protect policyholders and guarantee compliance with the commitments companies assume with insured parties when they take out a policy.

The suspension will be in force until Konsegur rectifies the detected deficiencies.

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