Official Letter Modifying Authorization to Organize, Operate and Function as an Insurance Institution Granted to Der Neue Horizont Re, S.A. de C.V. — SHCP — MX

Official Gazette of the Federation: 20/12/2022

OFFICIAL LETTER modifying the authorization to organize, operate and function as an insurance institution, granted to Der Neue Horizont Re, S.A. de C.V.

On the margin a seal with the National Shield, reading: United Mexican States.- FINANCE.- Ministry of Finance and Public Credit.- National Insurance and Surety Commission.- Presidency.- Official Letter No. 06-C00- 41100-08536/2022.

DER NEUE HORIZONT RE, S.A. DE C.V.

(formerly Der Neue Horizont Re, S.A.)

Avenue Río Mixcoac 206, Department 72 A

Neighborhood Acacias

Benito Juárez Borough

03240, Mexico City

SUBJECT:

The authorization to organize, operate

and function as an insurance institution granted to

Der Neue Horizont Re, S.A. de C.V. is modified.

The Federal Government, through the National Insurance and Surety Commission, prior to Agreement of its Governing Board, based on articles 2, section 1, 17, 26 and 31, section VIII, of the Organic Law of the Federal Public Administration; 2, section D, section III, of the Internal Regulations of the Ministry of Finance and Public Credit; 11, 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 Surety Institutions; as well as in articles 4, sections I and II, 6 and 9 of the Internal Regulations of the National Insurance and Surety Commission; issues the present Resolutions in attention to the following Background and Considerations:

BACKGROUND

FIRST.- Der Neue Horizont Re, S.A., was authorized by the Ministry of Finance and Public Credit

through Official Letter 100.-263 of December 13, 2013, published in the Official Gazette of the Federation of July 1,

2014, to organize, operate and function as an insurance institution, in order to exclusively practice

property reinsurance, in the damage operation in the lines of civil liability and professional

risks; fire, agricultural and animal, automobiles, earthquake and other catastrophic risks,

maritime and transport, which will comprise only the payment of indemnity for damages and

losses suffered by the movable property and livestock object of the transfer; as well as in the line of miscellaneous, which,

is limited to the payment of the indemnity due for damages and losses caused to machinery and equipment.

SECOND.- By writings received in this Commission on May 30 and September 6, 2018, Neue

Horizont Re, S.A., requested the approval of this Commission to modify, among others, the first and

second clauses of the social statutes of that institution, by virtue of the change of the legal regime from Stock Corporation

to Variable Capital Stock Corporation and the elimination of the reference to the line of "earthquake" in

its corporate purpose, in accordance with its extraordinary general shareholders assembly held on March 7, 2018.

THIRD.- Through Official Letter 06-C00-41100-00238/2020 of January 15, 2020, this Commission approved the

reform, among others, to the first and second clauses of the social statutes of that institution.

FOURTH.- By writing of May 13, 2021, the cited institution presented a certified copy of the

public deed number 27,645 of April 1, 2020, granted before the faith of Attorney María Luisa Corral Ríos,

Head of Public Notary number 1 with practice in the Benito Juárez Judicial District of the City

of Cuauhtémoc, State of Chihuahua, in which the protocolization of the act of extraordinary general

shareholders assembly of March 7, 2018 is recorded.

FIFTH.- The Governing Board of the National Insurance and Surety Commission in its Session 229 of September 15

of 2022, taking into consideration the favorable opinion issued by the Committee of

Authorizations agreed the following:

"SOLE.- THE authorization granted to Der Neue Horizont Re, S.A. is MODIFIED, in order to

reflect the reforms made in the social statutes of said institution to change in

the name its corporate regime to "Variable Capital Stock Corporation", remaining

such name as Der Neue Horizont Re, S.A. de C.V., as well as for the elimination of

the reference "Earthquake" from its corporate purpose.

"This based on articles, 11, 66, and 369, section II, of the Law of Insurance and

Surety Institutions; and in Provisions 2.3.1. to 2.3.3. and 2.3.7. of the Single Circular

Insurance and Surety".

Once the above is exposed, and

CONSIDERATIONS

FIRST.- That article 369, section II, of the Law of Insurance and Surety Institutions, provides

that it corresponds to the Governing Board of this Commission to modify the authorizations to organize,

operate and function as an insurance institution.

SECOND.- That in accordance with what is indicated in Background Eighth of the present, the Governing

Board of this Commission in its Session 229 of September 15, 2022, agreed to modify the authorization

granted to that insurance institution.

Based on the foregoing, the following are issued:

RESOLUTIONS

FIRST.- A preamble is added and Resolution First, Articles First, Second,

Third, Fifth, Sixth and Seventh of the authorization granted to Der Neue Horizont Re, S.A. (now Der Neue

Horizont Re, S.A. de C.V.), to organize, operate and function as an insurance institution, are modified, to remain

in the following terms:

«AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT TO DER NEUE HORIZONT RE,

S.A. DE C.V., TO ORGANIZE, FUNCTION AND OPERE AS AN INSURANCE

INSTITUTION, IN THE FOLLOWING TERMS:

«In use of the faculty conferred by article 5 of the abrogated General Law of Institutions and

Mutualist Societies of Insurance to the Ministry of Finance and Public Credit, and that from

April 4, 2015 confers article 11 of the Law of Insurance and Surety Institutions to the

National Insurance and Surety Commission, Der Neue Horizont Re,

S.A. de C.V., is authorized to organize, operate and function as an insurance institution according to

the following articles:

«First.- The name shall be Der Neue Horizont Re, followed by the words "Variable Capital

Stock Corporation" or its abbreviations "S.A. de C.V.".

«Second.- The insurance institution is authorized to exclusively practice

property reinsurance, in the damage operation in the lines of civil liability and professional

risks; fire, agricultural and animal, automobiles, catastrophic risks, maritime and

transport, which will comprise only the payment of indemnity for damages and

losses suffered by the movable property and livestock object of the transfer; as well as in the line of

miscellaneous, which, for the purpose of this authorization, is limited to the payment of the

indemnity due for damages and losses caused to machinery and equipment.

«Third.- Der Neue Horizont Re, 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 it has

authorized, expressed in Investment Units and that must be covered in national currency, in

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

«...

«Fifth.- In what is not expressly indicated by this resolution, Der Neue Horizont Re, S.A.

de C.V., shall be subject to the Law of Insurance and Surety Institutions, to the provisions

that emanate from it, to the General Law of Commercial Companies, and the other legislation,

norms and regulation, that by its own nature, are applicable to it.

«Sixth.- The insurance institution will be subject to the inspection and surveillance of the Commission

National Insurance and Surety in accordance with article 382 of the Law of Insurance

and Surety Institutions.

«Seventh.- The authorization to which this resolution refers is, by its own nature

non-transferable.»

SECOND.- The authorization granted to Der Neue Horizont Re, S.A. de C.V., to organize, operate and

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

entirely in the following terms: