Official Letter Authorizing the Organization and Operation of Swiss Re Corporate Solutions México Seguros, S.A. de C.V.

DOF: 05/06/2017

OFFICIAL LETTER through which the organization and operation of the insurance institution named Swiss Re Corporate Solutions México Seguros, S.A. de C.V. is authorized.

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 Bonds.- Presidency.- Legal Vice Presidency.- General Legal, Advisory and Intermediaries Directorate.- Advisory Directorate.- Sub-Advisory Directorate.- File: C00.411.13.1.7/5"16".- Official Letter No. 06-C00-41100/10650.

SUBJECT:

The organization and operation of the insurance institution named Swiss Re Corporate Solutions México Seguros, S.A. de C.V. is authorized.

SWISS RE CORPORATE SOLUTIONS LTD

SWISS REINSURANCE COMPANY LTD

Common Address:

Paseo de los Tamarindos No. 150, ground floor Col. Bosques de las Lomas Cuajimalpa 05120, Mexico City

Attn:

Lics. María de la Luz Solana López and Carlos Ramos Miranda

Legal Representatives

The Federal Government through the National Commission of Insurance and Bonds, and prior agreement of its Board of Directors, based on articles 90 of the Political Constitution of the United Mexican States; 17 and 31, section VIII, of the Organic Law of the Federal Public Administration; 2°, subsection D, section III, of the Internal Regulations of the Ministry of Finance and Public Credit, published in the Official Journal of the Federation on September 11, 1996, and its various modifications; 11, 12, 25, section III, subsections a) to d), j) and k) and second paragraph, 47, 369, section II and 370, last paragraph, of the Law of Insurance and Bonds Institutions, in relation to Provisions 2.1.1. to 2.1.3., section I and 2.1.8. and Chapters 39.1. and 39.6. of the Unified Insurance and Bonds Circular; as well as articles 6 and 9 of the Internal Regulations of the National Commission of Insurance and Bonds, issues the resolutions indicated below, in attention to the following Background and Considerations:

BACKGROUND

I.

By writing dated April 15, 2016, presented before this Commission on the same day, Swiss Re Corporate Solutions Ltd and Swiss Reinsurance Company Ltd, through their attorneys, Lics. María de la Luz Solana López and Carlos Ramos Miranda, requested authorization from this Commission to organize and operate as an insurance institution to be named "Swiss Re Corporate Solutions México Seguros, S.A. de C.V.", for the operation of damage in the lines of civil liability and professional risks, marine and transport, fire, agricultural and animal, catastrophic and miscellaneous risks, as well as reinsurance regarding the requested lines.

II.

By writing dated July 1, 2016, received by this Commission on the same day, Lics. María de la Luz Solana López and Carlos Ramos Miranda, in their capacity as legal representatives of the aforementioned applicants, sent various documentation and complementary information to the aforementioned request.

III.

In this context, the aforementioned request was submitted to the consideration of the Board of Directors of this Commission, in its session 190 of October 25, 2016, prior favorable opinion of the Authorizations Committee of said Commission, which agreed as follows:

"UNIQUE.

GRANT authorization to Swiss Re Corporate Solutions Ltd and Swiss Reinsurance Company Ltd, to organize and operate as an insurance institution named Swiss Re Corporate Solutions México Seguros, S.A. de C.V., in the operation of damage in the lines of civil liability and professional risks, marine and transport, fire, agricultural and animal, catastrophic and miscellaneous risks, as well as reinsurance regarding the requested lines.

"This is understood to be subject to the institution obtaining the favorable opinion that this Commission issues, if applicable, in accordance with article 47 of the Law of Insurance and Bonds Institutions, which must be requested within a period of one hundred and eighty days counted from the approval of the public instrument in which the constitution of such society is recorded.

"In the event that the aforementioned favorable opinion is not obtained, this authorization will become void.

"...".

IV.

By Official Letter 06-C00-41100/31625 of October 31, 2016, this Commission, among other Resolutions, notified the applicant societies that the Board of Directors of this Commission, in its session 190 of October 25, 2016, taking into consideration the favorable opinion issued by the Authorizations Committee of the same Commission, in its session held on the 11th of the same month and year, agreed to grant the authorization requested by the aforementioned societies and gave a favorable opinion regarding the draft bylaws of the commercial society that would be constituted under the name of Swiss Re Corporate Solutions México Seguros, S.A. de C.V.

V.

Through the writing of January 11, 2017, Lics. María de la Luz Solana López and Carlos Ramos Miranda, in their capacity as attorneys for Swiss Re Corporate Solutions Ltd and Swiss Reinsurance Company Ltd, sent the first notarial testimony and three copies by notarial comparison of public instrument 140,677 of January 9, 2017, granted before the authority of Lic. Ricardo Gutiérrez Pérez, holder of Public Notary number 68 of this Mexico City, in which the constitution of Swiss Re Corporate Solutions México Seguros, S.A. de C.V. is recorded, as well as the social bylaws that will govern said society.

VI.

By Official Letter 06-C00-41100/10441 of March 17, 2017, this Commission approved the social bylaws contained in the aforementioned public instrument 140,677 of January 9, 2017, granted before the authority of Lic. Ricardo Gutiérrez Pérez, holder of Public Notary number 68 of this Mexico City, in which the constitution of Swiss Re Corporate Solutions México Seguros, S.A. de C.V. is recorded.

CONSIDERATIONS

FIRST.- That once the documentation and information sent by Swiss Re Corporate Solutions Ltd and Swiss Reinsurance Company Ltd, through the writing of April 15, 2016 and its addendum identified in Backgrounds I and II of this Official Letter, has been reviewed, it was determined that the requirements established in articles 11, 25, section III, subsections a), b), c), d), j), and k), and second paragraph, and 41, sections I to VI and VIII, of the Law of Insurance and Bonds Institutions; article 30-E, sections III and IV, of the Federal Law of Fees; Chapter 2.1, Annex 2.1.3-a, Chapters 39.1. and 39.6. of the Unified Insurance and Bonds Circular, published in the Official Journal of the Federation on December 19, 2014; applicable regulations for the constitution of an insurance institution that will carry out damage operations, in the lines of civil liability and professional risks, marine and transport, fire, agricultural and animal, catastrophic and miscellaneous risks, as well as the practice of reinsurance regarding the aforementioned lines, were met.

SECOND.- That in accordance with what is established in articles 366, section VIII, 369, section II, and 370, last paragraph, of the Law of Insurance and Bonds Institutions, the authorizations to organize, operate and function as an insurance institution, must be granted by this Commission, prior agreement of its Board of Directors, which in its session 190 of October 25, 2016, agreed to grant the authorization requested by the applicant societies, corresponding to the holder of the Presidency of this Commission to comply with the agreements of said Governing Body.

THIRD.- That in accordance with what is stated in article 11 of the Law of Insurance and Bonds Institutions, this National Commission of Insurance and Bonds, through Official Letter 06-C00-41100/31625 of October 31, 2016, notified the applicant societies of the agreement of the Board of Directors by which the requested authorization is granted and a favorable opinion regarding the draft social bylaws submitted was issued.

FOURTH.- That this Commission, through Official Letter 06-C00-411/10441 of March 17, 2017, in accordance with what is established in articles 11 and 66 of the Law of Insurance and Bonds Institutions, approved the social bylaws contained in the public instrument 140,677 of January 9, 2017, granted before the authority of Lic. Ricardo Gutiérrez Pérez, holder of Public Notary number 68 of this Mexico City, in which the constitution of Swiss Re Corporate Solutions México Seguros, S.A. de C.V. is recorded.

FIFTH.- That in terms of what is stated in articles 11, third paragraph, 12 and 47 of the Law of Insurance and Bonds Institutions, 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 social bylaws of Swiss Re Corporate Solutions México Seguros, S.A. de C.V.

In view of the above, the following are issued:

RESOLUTIONS

FIRST.- The Federal Government through the National Commission of Insurance and Bonds and prior agreement of its Board of Directors, based on articles 90 of the Political Constitution of the United Mexican States; 17 and 31, section VIII, of the Organic Law of the Federal Public Administration; 2°, subsection D, section III, of the Internal Regulations of the Ministry of Finance and Public Credit, published in the Official Journal of the Federation on September 11, 1996, and its various modifications; 11, 12, 369, section II, and 370, last paragraph, of the Law of Insurance and Bonds Institutions; as well as articles 6 and 9 of the Internal Regulations of the National Commission of Insurance and Bonds, grants authorization to Swiss Re Corporate Solutions Ltd., and Swiss Reinsurance Company Ltd., to carry out the organization and operation of an insurance institution under the name of Swiss Re Corporate Solutions México Seguros, S.A. de C.V., under the following terms:

AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT, THROUGH THE NATIONAL COMMISSION OF INSURANCE AND BONDS, TO SWISS RE CORPORATE SOLUTIONS MÉXICO SEGUROS, S.A. DE C.V., TO ORGANIZE AND OPERATE AS AN INSURANCE INSTITUTION, UNDER THE FOLLOWING TERMS:

ARTICLE FIRST.- In exercise of the power conferred to the Federal Government by article 11 of the Law of Insurance and Bonds Institutions, the National Commission of Insurance and Bonds, authorizes Swiss Re Corporate Solutions México Seguros, S.A. de C.V., to organize and operate as an insurance institution.

ARTICLE SECOND.- The insurance institution is authorized to carry out in the Mexican Republic the operation of damage, in the lines of civil liability and professional risks, marine and transport, fire, agricultural and animal, catastrophic and miscellaneous risks; as well as the practice of reinsurance, regarding the operation and lines included in this authorization.

ARTICLE THIRD.- The insurance institution will be subject to the provisions of the Law of Insurance and Bonds Institutions, as well as those derived from it, to the General Law of Commercial Societies, to the other laws applicable to it and, in particular, to the following bases:

I.- The name will be Swiss Re Corporate Solutions México Seguros, followed by the words Sociedad Anónima de Capital Variable or its abbreviations, S.A. de C.V.

II.- Swiss Re Corporate Solutions México Seguros, S.A. de C.V., must have the minimum paid capital that is determined for the year in question, for each operation or line, that is authorized to it, expressed in Investment Units and which must be covered in national currency, as ordered by article 49, first paragraph, of the Law of Insurance and Bonds 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 the inspection and supervision of the National Commission of Insurance and Bonds.

SECOND.- This authorization, in accordance with what is established in articles 11 and 12 of the Law of Insurance and Bonds Institutions, is subject to the aforementioned institution obtaining the favorable opinion referred to in article 47 of the Law of Insurance and Bonds Institutions, which this Commission issues, if applicable.

In the event that the aforementioned favorable opinion is not obtained, this authorization will not take effect.

THIRD.- These resolutions must be published in the Official Journal of the Federation and in two widely circulated newspapers of the social domicile of the institution, within the one hundred and twenty days following the date of their notification to Swiss Re Corporate Solutions México Seguros, S.A. de C.V., in terms of what is provided in article 11 of the Law of Insurance and Bonds Institutions, at the expense of the authorized society.

These resolutions are issued based on the information provided by the applicants contained in the writings sent and are limited exclusively to the authorization for Swiss Re Corporate Solutions Ltd., and Swiss Reinsurance Company Ltd., to carry out the organization and operation of an insurance institution to be named Swiss Re Corporate Solutions México Seguros, S.A. de C.V., which in accordance with the applicable provisions falls within the competence of this Commission to resolve, and does not prejudge any act that said societies carry out and which implies the prior authorization or approval of other financial, administrative, tax or any other authorities, in terms of the current regulations, nor does it validate the legality or validity of the same in the event that said authorizations or approvals are not obtained.

This is based on articles 11, 12, 25 section III, subsections a) to d), j) and k) and second paragraph, 47, 369, section II and 370, last paragraph, of the Law of Insurance and Bonds Institutions, in relation to Provisions 2.1.1. to 2.1.3., section I, and 2.1.8. and Chapters 39.1. and 39.6. of the Unified Insurance and Bonds Circular, published in the Official Journal of the Federation on December 19, 2014; as well as articles 6 and 9 of the Internal Regulations of the National Commission of Insurance and Bonds.

Respectfully,

EFFECTIVE VOTE. NO RE-ELECTION.

Mexico City, March 17, 2017. - The President of the National Commission of Insurance and Bonds, Norma Alicia Rosas Rodríguez.- Rubric.

(R.- 450169)

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