Guatemala: Banks Broaden Range of Insurance Services

Resolution JM-142-2011, published on Friday 2 December in the Diario Oficial states that the sale of insurance products has been regulated by article 89 of the Law on Insurance Activities since the 5th of January, however it was necessary for the JM , in the opinion of the Superintendency of Banks (SIB), to authorize banking institutions to undertake other operations and provide other services that were not accounted for in the aforementioned legislation ‘as long as they are compatible with normal functions’.

Among these services are trading between clients and the sale of large scale insurance.

Source: prensalibre.com

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