Modifying Circular 12/19 of the Single Circular on Insurance and Sureties

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DOF: 11/10/2019

Modifying Circular 12/19 of the Single Circular on Insurance and Sureties

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- SHCP.- Ministry of Finance and Public Credit.- National Insurance and Sureties Commission.

MODIFYING CIRCULAR 12/19 OF THE SINGLE CIRCULAR ON INSURANCE AND SURETIES

(Annexes 34.1.21-b, 34.2.2-b and 34.4.3.)

The National Insurance and Sureties Commission, based on the provisions of articles 366, fraction II, 372, fractions VI and XLII, 373 and 381 of the Law of Insurance and Surety Institutions, and

CONSIDERING

That in accordance with the provisions of article 107 of the Law of Insurance and Surety Institutions, in conjunction with Chapter 34.1 of the Single Circular on Insurance and Sureties, it is the competence of the National Insurance and Sureties Commission to maintain the General Registry of Foreign Reinsurers, in which first-tier reinsurers from abroad that meet solvency and stability requirements to carry out operations and comply with the diversification of responsibilities assumed by insurance institutions and mutual insurance societies and surety institutions in the country appear; which implies following up, among other things, on the registration movements and changes in the legal status presented by such foreign entities.

That foreign entities, in terms of what is provided in Provision 34.2.1 of the Single Circular on Insurance and Sureties, will inform the National Insurance and Sureties Commission of the authorized subscribers with whom they have agreements for the acceptance of risks and/or responsibilities in reinsurance and/or suretyship in the country, as well as the scope and characteristics granted, resulting of special importance that the aforementioned Commission makes known to the insurance and surety sectors, as well as reinsurance intermediaries, about such authorized subscribers.

That in terms of what is provided in Provision 34.4.3 of the Single Circular on Insurance and Sureties, the information regarding the Representation Offices authorized by the National Insurance and Sureties Commission to establish themselves in the Mexican Republic, in accordance with article 108 of the Law of Insurance and Surety Institutions, is made known through Annex 34.4.3 of the aforementioned Circular.

That in view of the above, it is necessary to update Annexes 34.1.21-b, 34.2.2-b and 34.4.3 of the Single Circular on Insurance and Sureties, with the information regarding the granting of registration in the General Registry of Foreign Reinsurers of first-tier foreign reinsurers that meet solvency and stability requirements to carry out operations and comply with the diversification of responsibilities assumed by insurance institutions and mutual insurance societies and surety institutions in the country, as well as changes in the legal status presented by such foreign entities; likewise, regarding the information that said reinsurers provide to the National Insurance and Sureties Commission regarding the legal entities that underwrite risks in reinsurance or responsibilities in suretyship, in their name and representation (authorized subscribers), and finally, regarding the information relative to the Representation Offices authorized by the National Insurance and Sureties Commission to establish themselves in the Mexican Republic, in accordance with article 108 of the Law of Insurance and Surety Institutions.

For the aforementioned reasons, the National Insurance and Sureties Commission has resolved to issue the following modification to the Single Circular on Insurance and Sureties in the following terms:

MODIFYING CIRCULAR 12/19 OF THE SINGLE CIRCULAR ON INSURANCE AND SURETIES

(Annexes 34.1.21-b, 34.2.2-b and 34.4.3)

SINGLE.- Annexes 34.1.21-b, 34.2.2-b and 34.4.3 of the Single Circular on Insurance and Sureties are modified.

TRANSITORY

SINGLE.- This Modifying Circular will enter into force the day following its publication in the Official Gazette of the Federation.

This is made known to you, based on articles 366, fraction II, 372, fractions VI and XLII, 373 and 381 of the Law of Insurance and Surety Institutions.

Sincerely

Mexico City, September 11, 2019.- The President of the National Insurance and Sureties Commission, Ricardo Ernesto Ochoa Rodríguez.- Rubric.

ANNEX 34.1.21-b.

REGISTRATIONS, CANCELLATIONS, CHANGES OF NAME OR LOCATION OF FOREIGN INSURANCE AND REINSURANCE ENTITIES REGISTERED IN THE RGRE

From December 1, 2018 to June 30, 2019.

a) Granting of registration.

Office SHCP/CNSF Date Subject

... ... ...

06-C00-41100-10559/2019 15/03/2019 E + S RÜCKVERSICHERUNG AG, to carry out reinsurance operations in the Mexican Republic. RGRE-1247-19-C0000.

06-C00-41100-12126/2019 27/03/2019 BTG PACTUAL RESSEGURADORA S.A., to carry out reinsurance operations in the Mexican Republic. RGRE-1246-19-C0000.

06-C00-41100-17319/2019 24/04/2019 TRANSATLANTIC REINSURANCE COMPANY, to carry out reinsurance operations in the Mexican Republic. RGRE-1248-19-C0000.

06-C00-41100-25183/2019 27/05/2019 CNA INSURANCE COMPANY (EUROPE) S.A., to carry out reinsurance operations in the Mexican Republic. RGRE-1249-19-C0000

06-C00-41100-35265/2019 26/06/2019 RIMAC SEGUROS Y REASEGUROS S.A., to carry out reinsurance operations in the Mexican Republic. RGRE-1250-19-C0000

b) ...

c) Change of name or location.

Office Date Subject

... ... ...

06-C00-41100-10100/2019 13/03/2019 IRONSHORE INSURANCE LIMITED to LIBERTY SPECIALTY MARKETS BERMUDA LIMITED with registration number RGRE-940-07-327596.

06-C00-41100-17320/2019 5/04/2019 QBE INSURANCE (EUROPE) LIMITED to QBE UK LIMITED with registration number RGRE-427-97-320458.

06-C00-41100-17320/2019 24/04/2019 LIBERTY MUTUAL INSURANCE EUROPE LIMITED to LIBERTY MUTUAL INSURANCE EUROPE SE with registration number RGRE-772-02-320824.

06-C00-41100-21361/2019 14/05/2019 AIOI NISSAY DOWA INSURANCE COMPANY OF AMERICA to MSIG SPECIALTY INSURANCE USA INC., with registration number RGRE-1077-12-328708

06-C00-41100-21923/2019 18/06/2019 AMLIN INSURANCE S.E. to MS AMLIN INSURANCE S.E. with registration number RGRE-1211-16-C0000.

d) ...

ANNEX 34.2.2-b.

INCORPORATION OF AUTHORIZED SUBSCRIBERS

From December 1, 2018 to June 30, 2019.

Subscriber Authorized Foreign Entity No. RGRE Liability Limit Risk Validity

Kemah Capital Holding LLC. Berkshire Hathaway and International Insurance Limited. RGRE-930-06- 327306 USD $50,000,000 per risk. Property, terrestrial energy, offshore energy and marine energy. July 31, 2018 to July 31, 2019

Hanover Specialty Insurance Broker Lloyd's, Chaucer Syndicates LTD 1084 RGRE-001-85- 300001 Up to USD $75,000,000 Catastrophe Property Reinsurance. Excess of loss reinsurance, Property risk Excess of loss reinsurance, Treaty Proportional Reinsurance to Property, Property facultative and reinsurance of miscellaneous risks, Reinsurance of political violence, terrorism and war on land. December 31, 2018

Solis Re Agency Inc Lloyd's Syndicates Ark 4020, Barbican 1955., Vibe 5678 and Neon 2468 RGRE-001-85- 300001 Up to USD 15,000,000 Catastrophic property reinsurance, property by risk and facultative, property proportional contracts, general civil liability contracts and facultative, cargo/vessels and aviation contracts and facultative and specialized contracts and specialized facultative. Until December 31, 2019

Worldwide Technical Solutions Limited Royal & Sun Alliance Insurance PLC RGRE-121-85- 300102 Up to $7,500,000 USD per defined risks, per location or in the aggregate of storm or tremor hazards. The maximum total sum insured: USD $350,000,000 (100%). Maximum Premium USD $250,000. Facultative property reinsurance, physical loss or damage risks, business interruption. January 1, 2019 to December 31, 2019

Global BRG LLC Best Meridian International Insurance Company SPC RGRE-1235-18- C0000 US$120,000,000 in each line of business. General lines, property, civil liability, finance lines, accident, health, and life reinsurance and other businesses specified in article 6 of the agreement. October 1, 2016 until September 30, 2021

Dual Corporate Risks Limited Lloyd's, Syndicates 382 Hardy Syndicate, 2786 Everest Syndicate and Liberty Syndicate 4473 RGRE-001-85- 300001 Up to USD 20,000,000 Directors and officers liability reinsurance as well as for fiduciary liability, administrator liability, professional indemnity, combined professional indemnity policies, and executives and officers, commercial crimes, public offering of securities (SOPV), civil and product liability, underwritten together with professional indemnity under electronic marketing platforms, employer liability, underwritten together with professional indemnity under electronic marketing platforms, cyber crimes, liability of executives and officers of commercial societies, transport of valuables and primary funds, and of executives and officers/excess/public offerings of securities (SOPV). Until December 31, 2019

Hanover Specialty Insurance Brokers, Inc Lloyd's, Chaucer Syndicates LTD 1084 RGRE-001-85- 300001 Up to USD 75,000,000 Catastrophic excess of loss reinsurance / all risk material damage, excess of loss / all risk material damage proportional contracts / all risk material damage, facultative / all risk material damage and miscellaneous, political violence and terrorism, war, political and financial risk. Until December 31, 2019

Solis Re Agency Inc Lloyd's, syndicates 4020 Ark, 1955 Barbican, 5678 Vibe and 2468 Neon RGRE-001-85- 300001 Up to USD $25,000,000 Catastrophic Property Reinsurance, Property by Risk and Facultative, Property Proportional Contracts, General Civil Liability Contracts and Facultative, Cargo/Vessels and Aviation Contracts and Facultative and Specialized Contracts and Specialized Facultative. December 31, 2018

MS Amlin Reinsurance Managers, Inc. Lloyd's syndicate MS Amlin Syndicate 2001 RGRE-001-85- 300001 Up to USD 30,000,000 Crime and computer fidelity reinsurance and bank policies, cargo transport, civil liability, directors and officers (D&O), employer liability / work accident indemnification, engineering, financial institutions, art and species, marine hull, marine liability, marine excess of loss, medical expenses, medical negligence, automobile XL, automobiles abroad, personal accidents and health, political risks, credit and financial guarantees, professional liability, catastrophic excess of loss, proportional fire, fire risk XS and yacht. Until December 31, 2019

Hiscox Insurance Services, Inc. Lloyd's syndicates 33 and 3624 of Hiscox Syndicates Ltd RGRE-001-85- 300001 Up to USD 150,000,000 Terrorism reinsurance, art works, energy risks, marine risks, professional civil liability mid-range and product withdrawal. Until December 31, 2019

Hemispheric Reinsurance Group, L.L.C. Lloyd's syndicate 5000 Travelers RGRE-001-85- 300001 Up to USD 25,000,000 Construction & civil liability reinsurance, plants - manufacturing construction materials, buildings: hotels, shopping centers, hospitals, offices, warehouses, stadiums and factories, industries - chemical processing, food industries, infrastructure projects, oil & gas industries, renewable energy, processing and water treatment plants. Until December 31, 2019

Hemispheric Reinsurance Group, L.L.C. Lloyd's syndicate 510 Tokio Marine RGRE-001-85- 300001 Up to USD 25,000,000 Commercial, industrial, manufacturing, utility companies, electricity generation, petrochemicals, water and sewerage plants, mining, general contractors reinsurance. Until August 12, 2019

Global Aerospace Underwriting Managers Limited Mapfre Re, Reinsurance Company, S.A. RGRE-294-87- 303690 Airline liability, maximum gross participation 17.5%, with a liability limit of CSL US$2,500m Main products/satellite liability, maximum gross participation 20%, with a liability limit of CSL US$2,500m Minor products/subcomponents, maximum gross participation 100%, with a liability limit up to US$550m Satellite launch/in orbit, maximum gross participation US$100m, with liability limit General aviation, maximum gross participation 100%, with liability limit up to US$750m Airline liability, main products/satellite liability, minor products/subcomponents, satellite launch/in orbit, general aviation. Until December 31, 2019.

XS Latam, LLC Lloyd's, syndicate TMK 510 RGRE-001-85- 300001 Up to USD $100,000,000 Aviation Reinsurance, Including Hull, Liabilities and War. December 31, 2018

International Reinsurance Managers, LLC Lloyd's, syndicates Catlin Underwriting Agencies Limited 2003 and 3002 RGRE-001-85- 300001 Up to USD $5,000,000 Health Reinsurance, Group Life and Personal Accidents. December 31, 2019

Capital Bay Underwriting, LLC Lloyd's, syndicates MS Amlin Syndicate AML 2001, Hiscox Syndicate HIS 33, RenaissanceRe Syndicate RNR 1458 and XL Catlin Syndicate XLC 2003 RGRE-001-85- 300001 Up to USD $10,000,000 Directors and Administrators Liability Reinsurance, Employment Practices Liability, Fidelity/Dishonesty for Commercial Entities, Global Banking and Computer Crime and Professional Liability for Financial Entities. January 1, 2019

Aon Benfield Argentina S.A. Lloyd's, Syndicates TRV 5000, HIS 0033, AFB 3623, FDY 0435 and AMA 1200 RGRE-001-85- 300001 Up to USD 40,500,000 Civil liability, maritime and energy reinsurance, property and construction and engineering. Until December 31, 2019

Michel Else and Company Limited Lloyd's, Syndicates XL Catlin XLC 2003, Starstone SCC 1301, Atrium AUW 609, Hiscox HIS 33, Antares AUL 1274, Channel CHN 2015, Apollo Syndicate APL 1969, Argo AMA 1200, Arch AAL 2012, Argenta ARG 2121, Brit BRT 2987, Brit BRT 2988, Aspen ASP 4711, Watkins MRS 457, Chaucer CSL 1084, MS Amlin AML 2001, Canopius CNP 4444, Axis NVA 2007, Chubb CGM 2488, Ascot ASC 1414, Hardy HDU 382, Beazley AFB 2623, Beazley AFB 623, Noa Noa 3902, Hamilton Re Syndicate HAM 3334 and Barbican Syndicate BAR1955 RGRE-001-85- 300001 Up to USD 500,000,000 Protection and indemnity (P&I) reinsurance. Until October 31, 2019.

Mapfre Global Risk, Subscription Agency S.A.U. Mapfre Re, Reinsurance Company, S.A. RGRE-294-87- 303690 Powers to underwrite risks in reinsurance without any limitation. Reinsurance contracts of all kinds From January 1 to December 31, 2019

Liberty Specialty Markets Europe S.á.r.l. Liberty Mutual Insurance Europe Se RGRE-772-02- 320824 EUR 15,000,000 per risk. EUR 5,000,000 per risk. EUR 60,000,000 per risk. EUR 7,500,000. EUR 10,000,000. 20% of unlimited. EUR 20,000,000. EUR 20,000,000. Property Damage/Catastrophic Risks (property CAT XL). Damages from work and engineering projects. Personal accidents. Civil liability. Maritime and cargo. Vehicle/car damages. Political risk. Terrorism. From January 1, 2019 to December 31, 2019.

Liberty Specialty Services Ltd-Deutschland Liberty Mutual Insurance Europe Se RGRE-772-02- 320824 EUR 25,000,000 per risk/combined. EUR 25,000,000 per risk/combined. 20% of unlimited. EUR 15,000,000 per event/combined. EUR 40,000,000 per risk/combined. EUR 100,000,000 per risk/combined EUR 100,000,000 per risk/combined EUR 100,000,000 per risk/combined EUR 100,000,000 per risk/combined EUR 100,000,000 per risk/combined EUR 100,000,000 per risk/combined Property damages. Civil liability. Vehicle damages Property damages. Agricultural and climatic. Maritime. Personal accidents. Damages from work and engineering projects. Catastrophic. Terrorism. Energy. From January 1, 2019 to December 31, 2019.

Liberty Specialty Services Ltd Liberty Mutual Insurance Europe Se RGRE-772-02- 320824 EUR 5,000,000 per risk/EUR 15,000,000 (in agreed accounts programs). EUR 30,000,000 per risk/EUR 40,000,000 (in agreed accounts programs) / EUR 60,000,000 (for agreed pools). EUR 7,500,000 (for agreed programs) EUR 20,000,000 / 10% of unlimited programs. EUR 20,000,000 EUR 250,000,000 EUR 50,000,000 EUR 40,000,000 EUR 63,000,000 Property damages. Catastrophic property damage (CAT XL). Damages / proportional Catastrophic (CAT XL) Vehicle damages. Various. Terrorism. Cyber. Agricultural and climatic. Credit / surety insurance. From January 1, 2019 to December 31, 2019.

Michel Else and Company Limited Liberty Mutual Insurance Europe Se RGRE-772-02- 320824 USD 500,000,000 P&I insurance (maritime). Until October 31, 2019.

Sirius America RE Managers LLC Sirius America Insurance Company RGRE-1131-14- 319936 Liability limits are determined according to the level of the official and the operation as follows: Position: AVP (Assistant Vice President) Risk: USD $1,400,000 Catastrophes: USD $14,000,000 Position: VP (Vice President) Risk: USD $1,700,000 Catastrophes: USD $17,000,000 Position: SVP (Senior Vice President) Risk: USD $2,000,000 Catastrophes: USD $20,000,000 Catastrophe and Risk coverage for operations throughout the territory of the United Mexican States. From January 16 until December 31, 2019

Global Aerospace Underwriting Managers Limited Tokio Marine Kiln Insurance Limited RGRE-1181-15- 306071 Airline liability, maximum gross participation 17.5%, with a liability limit of CSL US$2,500m Main products/satellite liability, maximum gross participation 20%, with a liability limit of CSL US$2,500m Minor products/subcomponents, maximum gross participation 100%, with a liability limit up to US$550m Satellite launch/in orbit, maximum gross participation US$100m, with liability limit General aviation, maximum gross participation 100%, with liability limit up to US$750m Airline liability, main products/satellite liability, minor products/subcomponents, satellite launch/in orbit, general aviation. Until December 31, 2019.

Mitsui Sumitomo Insurance Company (Europe) Limited RGRE-914-06- 327328 Airline liability, maximum gross participation 17.5%, with a liability limit of CSL US$2,500m Main products/satellite liability, maximum gross participation 20%, with a liability limit of CSL US$2,500m Minor products/subcomponents, maximum gross participation 100%, with a liability limit up to US$550m Satellite launch/in orbit, maximum gross participation US$100m, with liability limit General aviation, maximum gross participation 100%, with liability limit up to US$750m Airline liability, main products/satellite liability, minor products/subcomponents, satellite launch/in orbit, general aviation. Until December 31, 2019.

Berkshire Hathaway International Insurance Limited RGRE-930-06- 327306 Airline liability, maximum gross participation 17.5%, with a liability limit of CSL US$2,500m Main products/satellite liability, maximum gross participation 20%, with a liability limit of CSL US$2,500m Minor products/subcomponents, maximum gross participation 100%, with a liability limit up to US$550m Satellite launch/in orbit, maximum gross participation US$100m, with liability limit General aviation, maximum gross participation 100%, with liability limit up to US$750m. Airline liability, main products/satellite liability, minor products/subcomponents, satellite launch/in orbit, general aviation. Until December 31, 2019.

ANNEX 34.4.3

LIST OF REPRESENTATION OFFICES OF FOREIGN REINSURERS IN OPERATION

From December 1, 2018 to June 30, 2019.

No. Representation Office Foreign Reinsurer Registration Number

1 HANNOVER RÜCK SE RGRE-1177-15-299927

2 GENERAL REINSURANCE AG. RGRE-012-85-186606

3 MAPFRE RE COMPAÑÍA DE REASEGUROS, S.A. RGRE-294-87-303690

4 MUENCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT RGRE-002-85-166641

5 ODYSSEY REINSURANCE COMPANY RGRE-1130-14-321014

6 PARTNER REINSURANCE COMPANY LTD RGRE-446-97-318415

7 RGA REINSURANCE COMPANY RGRE-376-94-316539

8 STARR INDEMNITY & LIABILITY COMPANY RGRE-1003-09-327405

9 STARR INSURANCE & REINSURANCE LIMITED RGRE-1126-13-328961

10 WESTPORT INSURANCE CORPORATION RGRE-203-85-300177

11 LIBERTY MUTUAL INSURANCE COMPANY RGRE-210-85-300184

12 LLOYD ' S RGRE-001-85-300001

13 BERKLEY INSURANCE COMPANY RGRE-405-97-319746

14 OCEAN INTERNATIONAL REINSURANCE COMPANY LIMITED RGRE-1185-15-329063

15 SWISS REINSURANCE AMERICA CORPORATION RGRE-795-02-324869

16 SWISS REINSURANCE COMPANY LTD. RGRE-003-85-221352

17 SCOR SE RGRE-501-98-320966

18 SWISS RE CORPORATE SOLUTIONS LTD RGRE-1129-14-328974

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