The National Banking and Insurance Commission of Honduras (CNBS) published amendments to the Regulation on Reinsurance Operations, Fronting, and the Registry of Foreign Reinsurers and Reinsurance Brokers in the June 24, 2026 edition of the Official Gazette. The amendments specifically modify Articles 36, 37, 40, 42, and 57.
The changes streamline certain registration and registry update requirements while maintaining the supervisory framework applicable to the insurance sector.
Greater flexibility for registry applications
The amendments revise the registration requirements for foreign reinsurers and reinsurance brokers. The main changes include:
- Legal documents may now be submitted to evidence the entity's incorporation and legal representation, expanding the types of documentation accepted.
- The requirement to demonstrate that the entity is authorized to operate "abroad" has been eliminated, as such authorization is often not issued by supervisory authorities in other jurisdictions.
- For applications submitted during the first half of the year, applicants may temporarily rely on the latest available rating agency report or the audited financial statements for the preceding fiscal year when the most recent information has not yet been issued.
- The requirement to submit annual reports has been eliminated, limiting the financial documentation requirement to audited financial statements for the three most recent fiscal years.
Registration remains valid indefinitely
Another important change is that registration in the Registry will continue to have indefinite validity, eliminating the need to obtain a new registration. However, registration remains subject to ongoing compliance with applicable regulatory obligations, as the CNBS retains the authority to suspend or cancel a registration in the event of non-compliance with the Regulation.
Annual registry updates remain mandatory
Although stakeholders proposed extending the Registry update period from one year to two years during the public consultation process, the CNBS decided to retain the annual update requirement.
The amendments also reduce the documentary burden for reinsurers during the annual update process by eliminating the requirement to submit audited financial statements each year. Going forward, reinsurers will primarily be required to submit:
- A document evidencing the representative's authority to act on behalf of the applicant.
- An updated report issued by the rating agency.
- A list of the reinsurance brokers with whom they ordinarily conduct business.
Reinsurance brokers, however, will continue to be required to submit audited financial statements as part of their annual Registry update.
Changes to the registration procedure
The amendments also revise Article 57 to align the registration and Registry update procedures with the new documentary requirements established under the Regulation, strengthening the administration of the Registry maintained by the CNBS.
