Official Letter Modifying the Authorization for Grupo Mexicano de Seguros, S.A. de C.V. to Organize, Operate, and Function as an Insurance Institution

DOF: 16/04/2021

OFFICIAL LETTER modifying the authorization to organize, operate, and function as an insurance institution, granted to Grupo Mexicano de Seguros, S.A. de C.V.

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

C00.411.13.2.1-S0092"18".- Official Letter No. 06-C00-41100-19819/2020.- Legal Vice Presidency.- General Legal, Advisory and Intermediaries Directorate.- Advisory Directorate.- Sub-Advisory Directorate.

GRUPO MEXICANO DE SEGUROS, S.A. DE C.V.

Nueva York 273

Col. Nápoles

Benito Juárez Municipality

C.P. 03810, Mexico City

SUBJECT:

The authorization to

organize, operate and function as

an insurance institution, granted to Grupo

Mexicano de Seguros, S.A. de C.V. is modified.

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; article 2, section D, fraction III, of the Internal Regulations of the Ministry of Finance and Public Credit; 11, 25, fraction III, subsection d), 41, fractions I to V and VIII, 45, 369 fraction II, 370 last paragraph, 372 fraction XLI and 373 of the Law of Insurance and Surety Institutions; 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 attention to the following Background and Considerations:

BACKGROUND

FIRST.- By Official Letter 366-IV-7018 of December 2, 1997, published in the Official Gazette of the Federation on February 16, 1998, the Ministry of Finance and Public Credit authorized Grupo Mexicano de Seguros, S.A. de C.V., to function and operate as an insurance institution. This authorization was last modified by this Commission through Official Letter 06-C00-41100/69483 of December 18, 2017, published in the aforementioned Gazette on March 22, 2018.

SECOND.- By writings dated November 26, 2018, January 9 and 10, March 8, as well as December 16, 2019, Grupo Mexicano de Seguros, S.A. de C.V., requested authorization from this Decentralized Body to modify the authorization under which it operates, in order to add the agricultural and livestock line to its corporate object in the damage operation that it currently practices.

THIRD.- The Board of Directors of this National Commission of Insurance and Sureties in its session 210 of October 29, 2019, taking into consideration the favorable opinion of its Authorizations Committee, agreed as follows:

« UNIQUE. THE AUTHORIZATION granted to Grupo Mexicano de Seguros, S.A. de

C.V., is modified, in order that it practices the agricultural and livestock line in the damage

operation that it already has authorized, in addition to the lines of civil liability and

professional risks, maritime and transport, fire, agricultural and livestock,

automobiles, miscellaneous, and catastrophic risks, as well as the reinsurance operations, which it already operates. »

FOURTH.- By official letter 06-C00-41100-61806/2019 of November 1, 2019, this Commission notified Grupo Mexicano de Seguros, S.A. de C.V., that its Board of Directors agreed to grant the requested authorization, in the terms described in the previous section.

FIFTH.- By official letter 06-C00-41100-61800/2019 of November 1, 2019, this Decentralized Body approved the modification of the second clause of the bylaws of that insurance institution in order to modify its corporate object and add the agricultural and livestock line in the operation it already practices, in accordance with the Minutes of the Extraordinary General Meeting of Shareholders of January 7, 2019; provided that it complies with the observations contained in the Single Annex attached to said official letter and under the instruction to send within ninety days following the date on which the aforementioned official letter was notified, the first testimony of the corresponding notarization deed.

SIXTH.- By official letter 06-C00-41000-01791/2020 of January 30, 2020, this Commission received public instrument number 93,518 and instructed that insurance institution to register said deed in the Public Commerce Registry of this City.

CONSIDERATIONS

FIRST.- That article 369, fraction II, of the Law of Insurance and Surety Institutions, states that it corresponds to the Board of Directors of this Commission to modify the authorizations to organize, operate and function as an insurance institution.

SECOND.- That in accordance with what is stated in Background THIRD of the present document, the Board of Directors of this Commission, in its Session 210 of October 29, 2019, agreed to modify the authorization granted to that insurance institution.

In view of the foregoing, the following are issued:

RESOLUTIONS

FIRST.- Article Two of the authorization granted to Grupo Mexicano de Seguros,

S.A. de C.V., to organize, operate and function as an insurance institution, is modified, to read as follows:

" ARTICLE TWO: 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, maritime and transport, fire, agricultural and livestock,

automobiles, miscellaneous, and catastrophic risks, as well as the operations of

reinsurance. "

SECOND.- The authorization granted to Grupo Mexicano de Seguros, S.A. de C.V., to organize, operate and function as an insurance institution, after the modification indicated in the previous ruling, remains in its entirety in the following terms:

« AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT, TO GRUPO MEXICANO DE

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

AN INSURANCE INSTITUTION, IN THE FOLLOWING TERMS:

« ARTICLE ONE.- In exercise of the power conferred by articles 5 and 6 of the

repealed General Law of Insurance and Mutual Insurance Companies to the Ministry

of Finance and Public Credit, and which from April 4, 2015, is conferred by article 11

of the Law of Insurance and Surety Institutions to the National Commission of Insurance

and Sureties, authorization is granted to Grupo Mexicano de Seguros, S.A. de C.V., to

organize, operate and function as an insurance institution.

« ARTICLE TWO.- 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, maritime and transport, fire, agricultural and livestock,

automobiles, miscellaneous, and catastrophic risks, as well as the operations of reinsurance.

« ARTICLE THREE.- The insurance institution shall be subject to the provisions of the Law

of Insurance and Surety Institutions, as well as those derived from it, to the

General Law of Commercial Companies, and to the other laws applicable to it and, in

particular, to the following bases:

« I.- The name shall be "Grupo Mexicano de Seguros, S.A. de C.V.".

« II.- The social capital shall be variable according to the following:

« a) The insurance institution 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 which must be covered in national currency, as ordered by

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

« b) The amount of the variable capital with withdrawal right in no case may be higher than the

paid capital without withdrawal right.

« III.- The social domicile of the insurance institution shall be Mexico City.

« ARTICLE FOUR.- By its very nature this authorization is non-transferable. »

THIRD.- This official letter must be published in the Official Gazette of the Federation and in two widely circulated newspapers from the social domicile of the institution, within one hundred and twenty days following the date of its notification to Grupo Mexicano de Seguros, S.A. de C.V., in terms of what is provided in article 11 of the Law of Insurance and Surety Institutions, at the expense of the interested parties.

These resolutions are issued based on the information provided by the petitioner contained in the writings submitted and are limited exclusively to the modification of the authorization granted to Grupo Mexicano de Seguros, S.A. de C.V., in the terms described that in accordance with the applicable provisions compete to resolve to 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 authorities, in terms of current regulations, nor does it validate the legality or validity of the same in case such authorization or approval is not obtained.

You are hereby informed of the foregoing, based on articles 2, fraction I, 17, 26 and 31, fraction VIII, of the Organic Law of the Federal Public Administration; 2, section D, fraction III, of the Internal Regulations of the Ministry of Finance and Public Credit; 11, 25, fraction III, subsection d), 41, fractions I to V and VIII,

45, 369 fraction II, 370 last paragraph, 372 fraction XLI and 373 of the Law of Insurance and Surety Institutions; 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.

Respectfully,

Mexico City, December 18, 2020. - The President of the National Commission of Insurance and

Sureties, Ricardo Ernesto Ochoa Rodríguez. - Rubric.

(R.- 505363)

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