On July 20, 2026, Resolution JM-76-2026 was published in the Diario de Centro América, through which the Monetary Board amended six regulations governing the insurance sector to allow various applications and their supporting documents to be submitted to the Superintendency of Banks (SIB) by electronic means. The resolution entered into force on the same day as its publication.
The reform applies, among others, to procedures related to:
- Incorporation of domestic insurance and reinsurance companies.
- Establishment of branches of foreign entities in Guatemala.
- Mergers and acquisitions of shares.
- Acquisitions of equity interests equal to or greater than 5% of paid-in capital.
- Establishment of Guatemalan branches abroad.
- Withdrawal of foreign branches from the country.
- Transfers of insurance or reinsurance portfolios.
Although the documentation must be submitted electronically to the SIB, entities will continue to be required to compile and maintain a physical record containing the original documents, except for those generated electronically that include a verification code.
The SIB may request this record at any time; therefore, entities must ensure consistency between the electronic documentation submitted and the corresponding original documents.
The reform represents a significant step forward in the digitalization of insurance supervision by facilitating the electronic submission of applications and documents to the Superintendency of Banks. This modernization could reduce processing times, simplify operational burdens, and make the regulatory procedures applicable to insurance companies, reinsurance companies, and investors more efficient.