Official Letter authorizing the organization, operation and functioning of the insurance institution named Momento Seguros, S.A. de C.V.

Official Gazette of the Federation: 09/01/2023

OFFICIAL LETTER whereby the organization, operation and functioning of the insurance institution named Momento Seguros, S.A. de C.V. is authorized

On the margin a seal with the National Shield, stating: United Mexican States.- FINANCE.- Secretariat of Finance and Public Credit.- National Insurance and Bonding Commission.- Presidency.- Legal Vicepresidency.- General Legal Consultative and Intermediaries Directorate.- File: C00.411.3S.2 " 22 " .- Official Letter No. 06-C00-41100-10516/2022.

SUBJECT:

The organization, operation and functioning of the insurance institution named Momento Seguros, S.A. de C.V. is authorized.

ANDRÉS GUERRERO ÁLVAREZ

MOMENTO TECHNOLOGY, S.A. DE C.V.

Av. Paseo de los Tamarindos No. 400 B Floor 7

Bosques de las Lomas Neighborhood

Cuajimalpa Alcaldía

C.P. 05120, Mexico City

The Federal Government, through the National Insurance and Bonding Commission, prior to Agreement of its Governing Board, based on articles 2, section I, 17, 26 and 31, section VIII, of the Organic Law of the Federal Public Administration; 2, section D, section III, 98-B and 98-C of the Internal Regulations of the Secretariat of Finance and Public Credit; 11, 12, 25, first paragraph, section III, subsection e), 41, 47, 366, section VIII, 367, sections I and II, 369, section II, 370, last paragraph, 372, section XLI, and 373 of the Law of Insurance and Bonding Institutions; 30-E, sections III and IV, of the Federal Duties Law; as well as in articles 4, sections I and II, 6 and 9 of the Internal Regulations of the National Insurance and Bonding Commission, issues the resolutions indicated below, in attention to the following Background and Considerations:

BACKGROUND

FIRST.- By writings of February 4, 4 and 12 of May, 25 and 31 of May, 22 of June, 14, 20 and 26 of July, 1 and 29 of August, all of 2022, Andrés Guerrero Álvarez, on his own right, and in representation of Momento Technology, S.A. de C.V., requested this Decentralized Body authorization to constitute and organize an insurance institution, to be named MOMENTO SEGUROS, S.A. DE C.V., which intends to practice damage operations in the automobile line.

SECOND.- The reference authorization request was submitted for consideration of the Governing Board of this Commission, in its session 230 of October 25, 2022, which taking into consideration the favorable opinion issued by the Authorizations Committee of the same Commission, according to what is established in article 368, fourth paragraph, of the Law of Insurance and Bonding Institutions, agreed the following:

" SINGLE.- AUTHORIZATION IS GRANTED for Momento Technology, S.A. de C.V., and Andrés Guerrero Álvarez to carry out the organization, operation and functioning of an insurance institution to be named " Momento Seguros, S.A. de C.V. " , whose object will be the practice of damage operations in the automobile line; with social domicile in Mexico City, and a social capital of $80 ' 000,000.00 M.N.; of which, $40 ' 500,000.00 M.N., correspond to the fixed minimum paid-in capital.

" The cited in the understanding that said authorization will be subject to the institution that is constituted obtaining the favorable opinion that, as the case may be, issues this Commission in accordance with articles 11, third paragraph, and 47 of the Law of Insurance and Bonding Institutions, which must be requested within a period of one hundred eighty days counted from the approval of the public instrument in which the constitution of such society is recorded.

" In case the opinion referred to in article 47 of the Law of Insurance and Bonding Institutions is not obtained, the present authorization will become void.

"..." .

THIRD.- Through official letters 06-C00-41100-07748/2022 and 06-C00-41100-10042/2022, both of October 25, 2022, the approval to the project of social bylaws was notified, among other resolutions, as well as the agreement of the Governing Board of this Commission regarding the request to constitute and organize an insurance institution that intends to practice damage operations in the automobile line.

FOURTH.- Through the writing of November 4, 2022, Momento Technology, S.A. de C.V., and Andrés Guerrero Álvarez, remitted the first testimony and a certified copy of the public instrument 106,566 of November 3, 2022, granted before the faith of Lic. Roberto Garzón Jiménez, holder of Public Notary 242 of Mexico City, acting as associate in the protocol of notary number 229 of which Lic. Marco Antonio Ruíz Aguirre is holder, in which the constitution of Momento Seguros, S.A. de C.V. is recorded, as well as the social bylaws that will govern said insurance institution. Additionally, the interested parties remitted the printout of the bank receipt of payment of contributions, products and federal revenues, in order to accredit the payment of duties referred to in article 30-E, section IV, of the Federal Duties Law in force.

CONSIDERATIONS

FIRST. That once the documentation and information remitted by the promoters was reviewed, through the writings referred to in Background First of this Official Letter, it was determined that the requirements established in articles 11, 12, 25, first paragraph, section III, subsection e), and 41 of the Law of Insurance and Bonding Institutions were met; in article 30-E, sections III and IV, of the Federal Duties Law; 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 of Insurance and Bonding; applicable regulations for the organization and operation of an insurance institution that will practice damage operations in the automobile line.

SECOND.- That in accordance with articles 11 and 369, section II, of the Law of Insurance and Bonding Institutions, the authorizations to organize and operate as an insurance institution must be granted by this Commission, prior agreement of its Governing Board, reason for which it is taken into account that the Governing Board of this Decentralized Body, in its Session 230 of October 25, 2022, agreed to grant the requested authorization; likewise, it is to be considered that it corresponds to the Holder of the Presidency of this Commission to comply with the agreements of the aforementioned Governing Body, in terms of what is established in articles 370, last paragraph, and 372, section XLI, of the same Law.

THIRD.- That according to what is indicated in article 11 of the Law of Insurance and Bonding Institutions, this National Insurance and Bonding Commission, through official letter 06-C00-41100-07748/2022 of October 25, 2022, granted approval to the remitted project of social bylaws, and through the diverse 06-C00-41100-10042/2022 of that same date, the agreement of the Governing Board was notified to the interested parties by which it was agreed to grant the requested authorization of the same date.

FOURTH.- That this Commission through Official Letter 06-C00-41100-10515/2022 of November 14 2022, in accordance with what is established in articles 11 and 66 of the Law of Insurance and Bonding Institutions, approved the public deed 106,566 dated November 3, 2022, granted before the faith of Lic. Roberto Garzón Jiménez, holder of Public Notary 242 of Mexico City, acting as associate in the protocol of notary number 229 of which Lic. Marco Antonio Ruíz Aguirre is holder, in which the constitution of Momento Seguros, S.A. de C.V. is recorded, society with domicile in Mexico City, that this counts with a fixed minimum paid-in capital of $40 ' 500,000.00 (Forty million five hundred thousand pesos 00/100 M.N.), being its shareholders Andrés Guerreo Álvarez and Momento Technology, S.A. de C.V., whose corporate object is to organize and operate as an insurance institution that practices damage operations in the automobile line.

FIFTH.- That in terms of articles 11, third paragraph, 12 and 47 of the Law of Insurance and Bonding Institutions, the start of operations as an insurance institution will be subject to obtaining the favorable opinion that issues this Commission, which must be requested within a period of one hundred eighty days counted from the approval of the social bylaws of Momento Seguros, S.A. de C.V.

Attentive to the above, the following are issued:

RESOLUTIONS

FIRST.- The Federal Government through the National Insurance and Bonding Commission and prior agreement of its Governing Board, based on articles 2, section I, 17, 26 and 31, section VIII, of the Organic Law of the Federal Public Administration; 2, section D, section III, 98-B and 98-C of the Internal Regulations of the Secretariat of Finance and Public Credit; 11, 12, 25, first paragraph, section III, subsection e), 41, 47, 366, section VIII, 367, sections I and II, 369, section II, 370, last paragraph, 372, section XLI, and 373 of the Law of Insurance and Bonding Institutions; 30-E, sections III and IV, of the Federal Duties Law; as well as in articles 4, sections I and II, 6 and 9 of the Internal Regulations of the National Insurance and Bonding Commission, grants authorization to Andrés Guerrero Álvarez and Momento Technology, S.A. de C.V., so that they carry out the organization and operation of the insurance institution Momento Seguros, S.A. de C.V., in the following terms:

AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT TO ANDRÉS GUERRERO ÁLVAREZ AND MOMENTO TECHNOLOGY, S.A. DE C.V., TO CARRY OUT THE ORGANIZATION AND OPERATION OF AN INSURANCE INSTITUTION, IN THE FOLLOWING TERMS:

ARTICLE ONE.- In use of the faculty that confers to the Federal Government article 11 of the Law of Insurance and Bonding Institutions, the National Insurance and Bonding Commission authorizes Momento Seguros, S.A. de C.V., to organize and operate as an insurance institution.

ARTICLE TWO.- The insurance institution is authorized to practice in the Mexican Republic the damage operations in the automobile line.

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

I.- The name will be "Momento Seguros", followed by the words "Sociedad Anónima de Capital Variable" or its abbreviations "S.A. de C.V.".

II.- The social capital will be variable, in accordance with the following:

a)

Momento Seguros, S.A. de C.V., must have the minimum paid-in capital that is determined for the year in question, for each operation or line, that is authorized to it, expressed in Investment Units and that must cover in national currency as ordered by article 49, first paragraph, of the Law of Insurance and Bonding Institutions.

b)

The variable capital with right to withdrawal in no case may be superior to the paid-in capital without right to withdrawal.

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

ARTICLE FOUR.- The insurance institution will be subject to the inspection and vigilance of the National Insurance and Bonding Commission in accordance with article 382 of the Law of Insurance and Bonding Institutions.

ARTICLE FIVE.- By its own nature this authorization is non-transferable.

SECOND.- The present authorization, in accordance with what is established in articles 11 and 12 of the Law of Insurance and Bonding Institutions, is subject to the referred institution obtaining the favorable opinion that, as the case may be, issues this Commission in accordance with article 47 of the same Law.

In case the favorable opinion referred to is not obtained, the present authorization will not produce its effects.

THIRD.- The present official letter must be published in the Official Gazette of the Federation and in two newspapers of wide circulation of the social domicile of the institution, within the one hundred twenty days following the date of its notification in terms of what is disposed in article 11, fourth paragraph, of the Law of Insurance and Bonding Institutions, at the cost of the interested parties.

The present resolutions are issued based on the information provided by the applicants contained in the remitted writings and is limited exclusively to the authorization so that Momento Seguros, S.A. de C.V., organizes and operates as an insurance institution, that in accordance with the applicable provisions corresponds to resolve to this Commission, and does not prejudge any act that the promoters carry out and that implies the prior authorization or approval of other financial, administrative, fiscal or any other nature authorities, in terms of the current regulations, nor does it validate the legality or validity of the same in case said authorization or approval is not obtained.

Respectfully

Mexico City, November 29, 2022.- The President of the National Insurance and Bonding Commission, Ricardo Ernesto Ochoa Rodríguez.- Signature.

(R.- 531039)

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