Modification of the authorization granted to Grupo Nacional Provincial, S.A.B. to operate as an insurance institution

DOF: 01/06/2017

OFFICE LETTER modifying the authorization granted to Grupo Nacional Provincial, S.A.B.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Commission of Insurance and Sureties.- Presidency.- Legal Vice Presidency.- General Legal, Advisory and Intermediaries Directorate.- Advisory Directorate.- Sub-directorate for Advisory Services.- File: C00.411.13.2.1-S0043"15".- Office No. 06-C00-41100/07053.

SUBJECT:

The authorization granted to

Grupo Nacional Provincial, S.A.B.

GRUPO NACIONAL PROVINCIAL, S.A.B.

Av. Cerro de las Torres 395

Col. Campestre Churubusco

Coyoacán

04200 Mexico City

Attention to:

Lic. Adolfo Hernández Rolón

Legal Representative

The Federal Government through the National Commission of Insurance and Sureties, and prior Agreement of its Board of Directors, based on articles 11, 66, 369, section II and 370, last paragraph, of the Law of Insurance and Surety Institutions, as well as articles 6 and 9 of the Internal Regulations of the National Commission of Insurance and Sureties, issues the following resolutions in attention to the following Background and Considerations:

BACKGROUND

Grupo Nacional Provincial, S.A.B., was authorized by the Ministry of Finance and Public Credit to organize and function as an insurance institution through Office Letter 102-E-366-DGSV-I-B-a- 118 of February 12, 1992. This authorization was last modified by said Dependence through Office Letter 100.-00918 of July 1, 2003, published in the Official Gazette of the Federation on September 11, 2003.

With a letter dated May 14, 2015, Lic. Adolfo Hernández Rolón, legal representative of Grupo Nacional Provincial, S.A.B., requested authorization from this Commission to carry out the modification of the corporate bylaws of said insurance institution in order to adapt them to the entry into force of the Law of Insurance and Surety Institutions, as well as to the Single Insurance and Surety Circular, as agreed in its Ordinary and Extraordinary Shareholders' Meeting of April 28, 2015, whose draft they sent attached to their request; from this modification, the elimination of the words " Distrito Federal " from its social domicile stands out, in accordance with the " Decree declaring reformed and repealed various provisions of the Political Constitution of the United Mexican States, in matters of the political reform of Mexico City " published in the Official Gazette of the Federation on January 29, 2016, as well as the adjustment to its corporate object, due to the " adjustment of Catastrophic Risks ".

Through Office Letters 06-C00-41100/17865 of June 20, 2016, 06-C00-41100/22428 of July 26, 2016 and 06-C00-41100/35488 of December 8, 2016, this Commission approved the comprehensive modification carried out by that institution to its corporate bylaws, in accordance with what is provided in article 66 of the Law of Insurance and Surety Institutions, contained in public deed No. 48,407 of July 7, 2016, granted before the faith of Lic. Alfredo Ruíz Del Rio Prieto, holder of Public Notary No. 141 of this Mexico City, registered in the Public Registry of Property and Commerce of Mexico City, under commercial folio 5968*, of September 9, 2016.

In that context, the modifications to the authorization of Grupo Nacional Provincial, S.A.B. to operate as an insurance institution were submitted to the consideration of the Board of Directors of the National Commission of Insurance and Sureties in its session 193 of February 21, 2017, which agreed, prior to the favorable opinion of the Authorizations Committee of the same Commission, the following:

« FIRST.- MODIFY the authorization of " Grupo Nacional Provincial, S.A.B. " , in order to reflect the modifications made in the corporate bylaws of said institution which are described below:

a) Replace in its social domicile the reference to " Distrito Federal " with " Ciudad de México, and

b) Replace in its object the reference to the insurance line identified as " Earthquake and other catastrophic risks " with " Catastrophic risks ".

SECOND.- MODIFY the authorization of Grupo Nacional Provincial, S.A.B. , in order to eliminate the reference to the capital amount of said insurance institution by replacing it with a wording that establishes that the institution must have the minimum paid-in capital determined for the year in question, for each operation and line for which it has authorization, which must be expressed in Investment Units and

covered in national currency, in terms of article 49, first paragraph, of the Law of Insurance and Surety Institutions. »

CONSIDERATIONS

FIRST.- That article 369, section II, of the Law of Insurance and Surety Institutions, provides that it is the competence of the Board of Directors of this Commission to modify the authorizations to organize, operate and function as an insurance institution.

SECOND.- That as a result of the resolution contained in the aforementioned Office Letter No. 06-C00-41100/35488 of December 8, 2016, the terms of the authorization granted to that insurance institution must be modified.

In view of the foregoing, the following are issued:

RESOLUTIONS

FIRST.- The Preamble and Articles First, Second and Third, first paragraph, bases II and III, of the authorization granted to Grupo Nacional Provincial, S.A.B. are modified, in the following terms:

AUTHORIZATION GRANTED BY THE NATIONAL COMMISSION OF INSURANCE AND SURETIES,

ON BEHALF OF THE FEDERAL GOVERNMENT, TO GRUPO NACIONAL PROVINCIAL,

S.A.B., TO OPERATE AS AN INSURANCE INSTITUTION, IN THE TERMS

FOLLOWING:

ARTICLE FIRST.- In exercise of the power conferred on the Federal Government by article

5 of the repealed General Law of Insurance and Mutual Insurance Institutions, to the

Ministry of Finance and Public Credit, and which from April 4, 2015, is conferred by

article 11 of the Law of Insurance and Surety Institutions, to the National Commission of

Insurance and Sureties, Grupo Nacional Provincial, S.A.B. is authorized to operate as

an insurance institution.

ARTICLE SECOND.- The insurance institution is authorized to practice the operation

of life insurance, the operation of accident and illness insurance, in the lines

of personal accidents and medical expenses, and the operation of property insurance, in the

lines of civil liability and professional risks, maritime and transports, fire,

agricultural and animals, automobiles, credit, various and catastrophic risks, as well as the

operation of reinsurance.

ARTICLE THIRD.- The insurance institution shall be subject to the provisions of the Law

of Insurance and Surety Institutions, as well as those derived from it, to the

General Law of Commercial Societies, and to the other laws applicable to it and, in

particular, to the following bases:

...

II.- The institution must have the minimum paid-in capital determined for the year

in question, for each operation or line for which it has authorization, which must be

expressed in Investment Units and which must be covered in national currency, in terms

of article 49, first paragraph, of the Law of Insurance and Surety Institutions.

III.- Its social domicile shall be Mexico City.

...

SECOND.- The authorization granted to

Grupo Nacional Provincial, S.A.B. , to organize and operate

as an insurance institution, after the modification indicated in the previous Resolutive, remains

entirely in the following terms:

AUTHORIZATION GRANTED BY THE NATIONAL COMMISSION OF INSURANCE AND SURETIES IN

REPRESENTATION OF THE FEDERAL GOVERNMENT TO GRUPO NACIONAL PROVINCIAL,

S.A.B., TO OPERATE AS AN INSURANCE INSTITUTION, IN THE TERMS

FOLLOWING:

ARTICLE FIRST.- In exercise of the power conferred on the Federal Government by article

5 of the repealed General Law of Insurance and Mutual Insurance Institutions, to the

Ministry of Finance and Public Credit, and which from April 4, 2015, is conferred by

article 11 of the Law of Insurance and Surety Institutions, to the National Commission of

Insurance and Sureties, Grupo Nacional Provincial, S.A.B. is authorized to operate as

an insurance institution.

ARTICLE SECOND.- The insurance institution is authorized to practice the operation

of life insurance, the operation of accident and illness insurance, in the lines

of personal accidents and medical expenses, and the operation of property insurance, in the

lines of civil liability and professional risks, maritime and transports, fire,

agricultural and animals, automobiles, credit, various and catastrophic risks, as well as the

operation of reinsurance.

ARTICLE THIRD.- The insurance institution shall be subject to the provisions of the Law

of Insurance and Surety Institutions, as well as those derived from it, to the

General Law of Commercial Societies, and to the other laws applicable to it and, in

particular, to the following bases:

I.- Its name shall be Grupo Nacional Provincial, Sociedad Anónima Bursátil.

II.- The institution must have the minimum paid-in capital determined for the year

in question, for each operation or line for which it has authorization, which must be

expressed in Investment Units and which must be covered in national currency, in terms

of article 49, first paragraph, of the Law of Insurance and Surety Institutions.

III.- Its social domicile shall be Mexico City.

ARTICLE FOURTH.- By its very nature this authorization is non-transferable.

THIRD.- These resolutions must be published in the Official Gazette of the Federation

and in two

newspapers of wide circulation from the social domicile of the institution, within one hundred twenty

days

following the date of their notification to Grupo Nacional Provincial, Sociedad Anónima Bursátil,

in terms

of what is provided in article 11 of the Law of Insurance and Surety Institutions, at the expense of

the interested parties.

These resolutions are issued based on the information provided by the petitioner contained in the

letters sent and are limited exclusively to the modification of the authorization granted to

that insurance institution, in the terms described which, in accordance with the applicable provisions,

it is competent for this Commission to resolve, and does not prejudge any act that said society carries out and that

implies prior authorization or approval of other financial, administrative, tax or

of any other nature authorities, in terms of current regulations, nor validates the legality or validity of the

same in case said authorizations or approvals are not obtained.

You are hereby informed of the foregoing, based on articles 11, 66, 369, section II and 370,

last paragraph, of the Law of Insurance and Surety Institutions, as well as articles 6 and 9 of the

Internal Regulations of the National Commission of Insurance and Sureties.

Respectfully,

Effective Suffrage. No Re-election.

Mexico City, February 27, 2017.- The President of the National Commission of Insurance and Sureties ,

Norma Alicia Rosas Rodríguez .- Rubric.

(R.- 450173)

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