BNP PARIBAS
E, CARDIF
Santiago, June 30, 2022
Mrs.
Solange Berstein Jáuregui
President
Financial Market Commission
Avda. Liberator Bernardo or Higgins 1449
Present
Ref.: Relevant event N* 151 – Reports deficit in regulatory ratio.
From our consideration:
In accordance with the provisions of the second paragraph of Article 9 of D.F.L. N* 251, in relation to
with Article 10 of Law No. 18.045, to Title IV of Decree with Force of Law 251 and in the
circulars 662 and 991 of the Commission for the Financial Market, duly authorized, communicated
to your Commission, on behalf of BNP Paribas Cardif Seguros de Vida S.A. (the
“Company”), with a relevant fact, the following:
On June 29, 2022, in the process of finalizing the closing of the financial information
corresponding to the accounting period of May 2022, the Administration has taken
Knowledge of two deficits in regulatory indices, namely (i) Net worth below
risk equity, amounting to CLP M$2,733,895; and (ii) the debt indicator
financial, which stands at 1.05 times net worth.
In accordance with the requirements of Title IV of D.F.L. N* 251, we inform that the reason that
generated the deficit of these indices corresponds mainly to the fact that the operational process that
reduces the amounts of premiums collected from the debts registered by the insured with the company,
took the Society longer than usual because it is making a change
in their operating systems that has required the incorporation of new information to them.
This has impacted on:
– – A higher risk equity, due to the increase in non-technical receivable liabilities, product, to
in turn, the longest period for settling remuneration owed to third parties, liquidation
which depends on the process of recognition of premium collection by being direct or
indirectly calculated on these.
– – A lower net worth, due to the debt for premiums on which it has not been applied
The collection, forces the recognition of a greater uncollectible provision against the result
of the year, in accordance with the provisions of Circular 1499 of the Commission for the Market
Financial.
In compliance with the provisions of the aforementioned legal body, the measures that the Company has
adopted to resolve this situation are as follows:
Classification : Internal
BNP PARIBAS
hs, CARDIF
– – A plan to regularize the time limit for the application of premiums collected on the debt of
insured, which is ongoing and is estimated to have its greatest effect on the closure of the
Financial statements for the month of June 2022. In this accounting closure
estimates reversing the situation of the deficit registered in the month of May 2022, for this alone
effect.
– – The subscription and payment of part of the capital increase for $ 55,000,000,000, agreed at the meeting
extraordinary shareholders of the Company held on April 4, 2022. From this
capital increase, about $ 9,000,000,000 will be subscribed and paid, within a period of 20
working days from the receipt of the resolution of authorization of the same by the
Financial Market Commission.
Yours sincerely yours,
Sebastian Valle Lorenzini
General Manager
BNP Paribas Cardif Seguros de Vida S.A.
Classification : Internal
Link to file in CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=a83ef28f98d56d964976bcd72cdea255VFdwQmVVMXFRVEpOUkVreFRYcFJlVTlSUFQwPQ==&secuencia=-1&t=1682376108
