New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 2 - INSURANCE COMPANY LICENSING AND OPERATION › Part 2 - INSURANCE HOLDING COMPANIES › Section 13.2.2.16 - FORM E

Current through Register Vol. 35, No. 13, July 16, 2024
A.
When
				required
: If a domestic insurer, including any person controlling a
				domestic insurer, is proposing a merger or acquisition pursuant to Subsection A
				of Section
				59A-37-4
				NMSA 1978, that person shall file a pre-acquisition notification using Form E,
				which was developed pursuant to Paragraph (1) of Subsection C Section
				59A-37-29
				NMSA 1978.
Additionally, if a non-domiciliary insurer licensed to do
				  business in New Mexico is proposing a merger or acquisition pursuant to Section
				  59A-37-4
				  NMSA 1978, that person shall file a pre-acquisiton notification using Form E.
				  No pre-acquisition notification form need be filed if the acquisition is beyond
				  the scope of Section
				  59A-37-4
				  NMSA 1978 as set forth in Subsection B of Section
				  59A-37-29
				  NMSA 1978,
In addition to the information required by Form E, the
				  superintendent may require an expert opinion as to the competitive impact of
				  the proposed acquisition.
B.
Information to be furnished in Form
				E
:
(1)
Caption
: Place the
				following caption at the top of the cover page:
FORM E
PRE-ACQUISITION NOTIFICATION REGARDING THE POTENTIAL
				  COMPETITIVE IMPACT OF A PROPOSED MERGER OR ACQUISITION BY A NON-DOMICILIARY
				  INSURER DOING BUSINESS IN NEW MEXICO OR BY A DOMESTIC INSURER
(2)
Applicant
: State the name of
				the acquiring or merging person.
(3)
Other person involved in merger or
				acquisition
: State the name of the other person involved in the merger
				or acquisition.
(4)
Date
: Provide the filing date of the statement.
(5)
Designation of agent
: State
				the name, title, address and telephone number of the individual to whom notices
				and correspondences concerning this statement should be addressed.
(6)
Identity of person's
				involved
: State the names and addresses of the person's who hereby
				provide notice of their involvement in a pending acquisition or change in
				corporate control.
(7)
Identity of person's affiliated with person's involved
: State the
				names and addresses of the person's affiliated with those listed in Item (6).
				Describe their affiliations.
(8)
Nature and purpose of proposed merger or acquisition
: State the
				nature and purpose of the proposed merger or acquisition.
(9)
Nature of business
: State
				the nature of the business performed by each of the person's identified in
				Paragraphs (6) and (7) of Subsection B of 13.2.2.16 NMAC.
(10)
Market and market share
:
(a) For purposes of this question, market
				means direct written insurance premium in New Mexico for a line of business as
				contained in the annual statement required to be filed by insurer's licensed to
				do business in this state.
(b) For
				each person identified in Paragraphs (6) and (7) of Subsection B of 13.2.2.16
				NMAC, state specifically what market and market share in each relevant
				insurance market the person's currently enjoy in New Mexico and provide
				historical market and market share data for the past five years including the
				source of such data.
(c) Provide a
				determination as to whether the proposed acquisition or merger, if consummated,
				would violate the competitive standards of New Mexico as stated in Section
				59A-37-29
				NMSA 1978. If the proposed acquisition or merger would violate competitive
				standards, provide justification that the acquisition or merger would not
				substantially lessen competition or create a monopoly in New Mexico.