The National Insurance and Bonding Commission (CNSF) is the state entity in charge of supervising insurance companies and consolidating companies in Mexico.
The CNSF is a decentralized body of the Ministry of Finance and Public Credit (SHCP) . This institution, in turn, is one of the portfolios that are part of the Mexican government.
It should be noted that insurers are those companies that sell insurance policies of different types: vehicles, life, housing, among others.
Likewise, bail institutions are entities whose business is to grant guarantees . That is, they are dedicated to ensuring or repaling compliance with third party obligations.
The objectives of the CNSF are as follows:
- Seek the solvency and financial stability of insurers and bond companies. Thus, the idea is to guarantee the interests of the public.
- Promote the development of the insurance market. This, with the purpose of extending the coverage of its services to as much of the Mexican population as possible.
- Supervise that the operations of insurance and surety companies follow the regulatory framework.
- Operate under the principles of efficiency, effectiveness and quality. To that end, international standards must be followed.
- Increase public confidence in insurers and consolidators.
The CNSF regularly publishes the following publications:
- Sector reports:These are documents that periodically report figures on the growth of the insurance and bond market. Among the data recorded are, for example, the premiums paid by the insured.
- Current insurance and surety magazine:It is a quarterly publication that provides financial figures and indicators by institution. Likewise, it informs about any regulations that the authorities have approved since the previous edition and that affect the sector.
- Statistical Yearbook:It is a detailed document by operation and branch of business. Thus, it contains various historical series and technical data.