Official Letter Authorizing Avla Seguros Generales, S.A. de C.V. to Organize, Operate, and Function as an Insurance Institution

DOF: 09/12/2024

OFFICIAL LETTER granting authorization to Avla Seguros Generales, S.A. de C.V., to organize, operate and function as an insurance institution.

At the margin a logo, which says: National Commission of Insurance and Sureties.- Presidency.- File:

C00.411.3S.2"23".- Official Letter No. 06-C00-41100-35285/2024.- Legal Vice Presidency.- General Directorate

Legal Advisory and Intermediaries.

FELIPE TORNERO OCHAGAVÍA AND CRISTINA TABOADA GARCÍA

ATTORNEYS-IN-FACT OF AVLA MÉXICO, S.A. DE C.V.

LETICIA RAMOS GARDUÑO

ATTORNEY-IN-FACT OF AVLA SEGUROS, S.A. DE C.V.

Av. Paseo de la Reforma 222, floor 21

Juárez Neighborhood

Cuauhtémoc Borough

C.P. 06600, Mexico City

SUBJECT:

Authorization to Avla Seguros Generales,

S.A. de C.V., to organize, operate and

function as an insurance institution.

The Federal Government, through the National Commission of Insurance and Sureties, prior to the Agreement of its Board of Directors, based on articles 2, fraction I, 17, 26 and 31, fraction VIII, of the Organic Law of the Federal Public Administration; 4, section G, fraction III, 48 and 49 of the Internal Regulations of the Secretariat of Finance and Public Credit; 11, 12, 25, first paragraph, fraction III, subparagraphs a), c), j) and k), 41, fractions I to VI and

VIII, 47, 366, fraction VIII, 367, fractions I and II, 369, fraction II, 370, last paragraph, 372, fraction XLI, and 373

of the Law of Insurance and Surety Institutions;

30-E, fraction IV, of the Federal Law of Rights;

in Provisions 2.1.1. to 2.1.4., in Chapters 39.1. and 39.6., and in Annex 2.1.3-a of the Single Circular

Insurance and Sureties; as well as in articles 4, fractions I and II, 6 and 9 of the Internal Regulations of the National Commission of Insurance and Sureties, issues these Resolutions in response to the following Background and Considerations:

BACKGROUND

FIRST. - By writings received on August 31 and October 26, 2023, January 24, March 4, April 10

May 3 and 16, June 14 and 18, July 4, 10 and 15, and August 9, the latter in 2024,

Felipe

Tornero Ochagavía and Cristina Taboada García, attorneys-in-fact jointly of Avla Mexico,

S.A.

de C.V., and Leticia Ramos Garduño, with the status of legal representative of Avla Seguros, S.A. de C.V.,

requested this Decentralized Agency authorization for the organization, operation and functioning of a

insurance institution to be called AVLA SEGUROS GENERALES, S.A. DE C.V., which intends

practice the operation of damage insurance, in the lines of civil liability and professional risks,

fire, catastrophic risks and miscellaneous.

SECOND. - The authorization request was submitted to the Board of Directors of this Commission, which

taking into consideration the favorable opinion of its Authorizations Committee, agreed in its Session 241

held on August 29, 2024 as follows:

"UNIQUE.- AUTHORIZATION IS GRANTED for Avla Mexico, S.A. de C.V., and Avla Seguros,

S.A. de C.V., to carry out the organization, operation and functioning of an institution

of insurance to be called "Avla Seguros Generales, S.A. de C.V." , whose purpose will be the

practice of the operation of damage insurance in the lines of civil liability and

professional risks, fire, catastrophic risks and miscellaneous; with social domicile in the

Mexico City, and a fixed social capital without right of withdrawal of $68 ' 013,000.00 M.N.

(Sixty-eight million thirteen thousand pesos 00/100 M.N.).

The foregoing, under the understanding that this authorization will be subject to the institution that

is constituted obtaining the favorable opinion that, if applicable, is issued by this Commission of

conformity with articles 11, third paragraph, and 47 of the Law of Insurance Institutions

and Sureties, which must be requested within a period of one hundred and eighty days counted from

from the approval of the public instrument in which the constitution of such

society.

In the event that the opinion referred to in article 47 of the Law of

Insurance and Surety Institutions is not obtained, this authorization will become void."

THIRD. - Through official letters 06-C00-41100-31421/2024 and 06-C00-41100-31426/2024, both dated August 30

of 2024, this Commission, among other resolutions, notified the applicants of the agreement of the Board of

Directors of this Decentralized Agency regarding the request to constitute and organize an institution

of insurance that intends to operate the operation of damage insurance, in the lines of civil liability and

professional risks, fire, catastrophic risks and miscellaneous ; as well as the favorable opinion and approval

of the bylaws of the institution that will be constituted by the applicants.

FOURTH. - By writing received in the registry office of this Commission on September 19 of

2024, Leticia Ramos Garduño on behalf of Avla Seguros, S.A. de C.V., sent the first original testimony

and a copy by notarial comparison of public instrument number 107,021 dated September 17, 2024,

granted before the notary of Lic. Guillermo Ramírez de Aguilar Castañeda, holder of Public Notary No. 136,

acting in the protocol of Notary 104 by association agreement celebrated with who was its holder, the

Lic. José Ignacio Sentíes Laborde, in which the protocolization of the bylaws of the

insurance institution Avla Seguros Generales, S.A. de C.V.; by reason of which by letter

06-C00-41100- 35152/2024 dated October 7, 2024, this Decentralized Agency considered said instrument

notarial and fulfilled what was ordered in letters numbers 06-C00-41100-31421/2024

and 06-C00-41100- 31426/2024, both dated August 30, 2024, ordering its registration in the Public Registry of Commerce

corresponding.

FIFTH. - By letter dated September 25, 2024, the applicants presented the proof of payment

of the rights referred to in article 30-E, fraction IV, of the Federal Law of Rights, for the authorization

for the constitution and operation of the insurance institution Avla Seguros Generales, S.A. de C.V.

CONSIDERATIONS

FIRST. - That once the documentation and information sent by the applicants has been reviewed, through

the writings referred to in the First Background of this official letter, it was determined that the

requirements established in articles 11, 25, first paragraph, fraction III, subparagraphs a), c), j) and k), and 41 of the Law

of Insurance and Surety Institutions; in Provisions 2.1.1. to 2.1.4., in

Chapters 39.1. and 39.6., and

in Annex 2.1.3-a of the Single Circular

Insurance and Sureties; applicable regulations for the organization and

operation of an insurance institution that will practice the operation of damage insurance, in the lines of

civil liability and professional risks, fire, catastrophic risks and miscellaneous.

SECOND. - That in accordance with articles 11 and 369, fraction II, of the Law of Institutions of

Insurance and Sureties, authorizations to organize, operate and function as an insurance institution

must be granted by this Commission prior to the agreement of its Board of Directors, which is why it is taken into

account that the Board of Directors of this Decentralized Agency, in its Session 241 held on August 29 of

2024, agreed to grant the requested authorization; likewise, it is to be considered that it corresponds to the

Head of the Presidency of this Commission to comply with the agreements of the said Government Body,

in terms of what is established in articles 370, last paragraph, and 372, fraction XLI, of the same Law.

THIRD. - That in accordance with what is stated in article 11 of the Law of Institutions of

Insurance and Sureties, this National Commission of Insurance and Sureties, through official letter 06-C00-41100-31426/2024 dated August 30

of 2024, granted approval to the project of social bylaws sent, and through the different 06-C00- 41100-31421/2024 of that same date, the agreement of the Board of Directors was notified to the applicants

granting the requested authorization.

FOURTH. - That through official letter 06-C00-41100-35152/2024 dated October 8, 2024, this Commission had

presented public deed number 107,021 dated September 17, 2024, granted before the faith

of Lic.

Guillermo Ramírez de Aguilar Castañeda, holder of Public Notary No. 136, acting in the protocol of the

Notary 104 by association agreement celebrated with who was its holder, Lic. José Ignacio Sentíes

Laborde, in which the protocolization of the social bylaws of the insurance institution Avla

Seguros Generales, S.A. de C.V., is recorded, in compliance with letters 06-C00-41100-31421/2024 and 06-C00-41100- 31426/2024, described in the Third Background of this present official letter.

FIFTH. - That in terms of articles 11, third paragraph, 12 and 47 of the Law of Institutions of

Insurance and Sureties, the start of operations as an insurance institution will be subject to the obtaining of the

favorable opinion issued by this Commission, which must be requested within a period of one hundred and eighty

days counted from the approval of the public instrument in which the social bylaws of Avla

Seguros Generales, S.A. de C.V. are recorded.

In view of the foregoing, the following are issued:

RESOLUTIONS

FIRST. - The Federal Government through the National Commission of Insurance and Sureties and prior agreement

of its Board of Directors, based on articles 2, fraction I, 17, 26 and 31, fraction VIII, of the Law

Organic of the Federal Public Administration; 4, section G, fraction III, 48 and 49 of the Internal Regulations of

the Secretariat of Finance and Public Credit; 11,

12, 25, first paragraph, fraction III, subparagraphs a), c), j) and k), 41,

fractions I to VI and VIII, 47, 366, fraction VIII, 367, fractions I and II, 369, fraction II, 370, last paragraph, 372,

fraction XLI, and 373 of the Law of Insurance and Surety Institutions; 30-E, fraction IV, of the Federal Law of

Rights; in Provisions 2.1.1. to 2.1.4., in Chapters 39.1. and 39.6., and in

Annex 2.1.3-a of the

Single Circular

Insurance and Sureties; grants authorization to Avla Mexico, S.A. de C.V. and Avla Seguros, S.A. de

C.V., to carry out the organization and operation of the insurance institution under the name of

Avla Seguros Generales, S.A. de C.V., in accordance with the following:

AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT TO AVLA SEGUROS

GENERAL, S.A. DE C.V., TO ORGANIZE, OPERATE AND FUNCTION AS

INSURANCE INSTITUTION, UNDER THE FOLLOWING TERMS:

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

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

Sureties authorizes Avla Seguros Generales, S.A. de C.V., to organize, operate and

function as an insurance institution.

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

Mexican Republic the operation of damage insurance, in the lines of civil liability

and professional risks, fire, catastrophic risks and miscellaneous.

ARTICLE THIRD. - The insurance institution will be subject to the Law of Institutions of

Insurance and Sureties, as well as to the provisions derived from it, to the Law

General of Commercial Societies, and to the other norms that, by their nature, are

applicable to it and, in particular, to the following bases:

I.- The corporate name will be Avla Seguros Generales, followed by the words " Sociedad

Anónima de Capital Variable " or its abbreviations S.A. de C.V.

II.- The insurance institution must have the minimum paid capital equivalent in

national currency to the value of the Investment Units determined by the National Commission

of Insurance and Sureties, with the agreement of its Board of Directors, through provisions of

general character, as established in article 49, first paragraph, of the Law of

Insurance and Surety Institutions.

III.- The social domicile of the insurance institution is Mexico City.

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

ARTICLE FIFTH. - The insurance institution will be subject to inspection and supervision of

the National Commission of Insurance and Sureties, in accordance with article 382 of the Law of

Insurance and Surety Institutions.

SECOND. - This authorization, as established in articles 11 and 12 of the Law of

Insurance and Surety Institutions, is subject to the aforementioned institution obtaining the favorable

opinion that, if applicable, is issued by this Commission in accordance with article 47 of the Law of Insurance Institutions

and Sureties.

In the event that the favorable opinion referred to is not obtained, this authorization will not

take effect.

THIRD. - This official letter must be published in the Official Journal of the Federation and in two newspapers of

wide circulation from the social domicile of the institution, within one hundred and twenty days following the date of

its notification, in terms of what is provided in article 11, fourth paragraph, of the Law of Insurance Institutions

and Sureties, at the expense of the interested parties.

This is issued based on the information provided by the applicants contained in the

writings sent and are limited exclusively to the authorization granted to Avla Seguros Generales, S.A. de

C.V., in the terms described that in accordance with the applicable provisions, it is competent to resolve by this

Commission, and does not prejudge any act that said society carries out and that implies prior

authorization or approval of other financial, administrative, tax or any other

nature authorities, in terms of current regulations, nor validates the legality or validity of the same in case of

if said authorization or approval is not obtained.

Respectfully

Mexico City, October 21, 2024. - The President of the National Commission of Insurance and

Sureties, Ricardo Ernesto Ochoa Rodríguez.- Rubric.

(R.- 558900)

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