N.M. Stat. § 59A-1-8
"Insurer"; "authorized insurer".
A. "Insurer" includes every person engaged as principal and as indemnitor, surety
or contractor in the business of entering into contracts of insurance.
B. An "authorized insurer" is a [an] insurer holding a valid and subsisting certificate
of authority, issued by the superintendent, to transact insurance in this state.