Deputies approved a late addition to the 2026 revenue bill that prohibits insurers from accrediting VAT on third‑party repairs and indemnities. A conditional fiscal stimulus would cancel most retroactive claims—estimated at 175–200 billion pesos—if companies withdraw litigation, while about 20 billion for 2025 could be paid in 2026 installments. Industry group AMIS pledged full compliance under the clarified rule, and Hacienda says it corrects improper credits tied to third‑party VAT. Finance executives at IMEF and other analysts expect higher premiums and slower claims handling beginning in 2026. Opposition parties call the measure an unconstitutional tax pardon and signal court challenges as the Senate takes up the bill, while AXA has not said if it will end its ICSID arbitration.
