This paper examines the effects of the regulatory changes implemented in the Mexican insurance sector in adjustment to the international regulations of Solvency II imposed by the International Association of Insurance Supervisors. The effect of regulatory changes on the risk and performance levels of foreign entities was analysed and compared with their domestic counterparts. Using a difference-in-difference estimator, significant evidence that foreign insurance companies enhanced their default risk after complying with the law was found. The findings showed that the stability levels of domestic entities were negatively affected. No effect on the performance level for both types of entities was found. This study provides evidence that foreign entities were already prepared for the change in regulation, as opposed to domestic ones, due to their association with their foreign holdings.

本文研究了墨西哥保险部门实施的法规变更对国际保险监督员协会实施的《偿付能力标准II》国际法规的调整的影响。分析了监管变化对外国实体的风险和绩效水平的影响，并将其与国内同业进行了比较。使用差异差异估算器，发现了重要证据，证明外国保险公司在遵守法律后会增加违约风险。调查结果表明，国内实体的稳定性受到负面影响。两种类型的实体对性能水平都没有影响。这项研究提供了证据，表明外国实体已经准备好进行法规变更，而不是国内实体，