Official Letter Modifying the Authorization Granted to Sompo Seguros Mexico, S.A. de C.V.

DOF: 22/12/2017

OFFICIAL LETTER modifying the authorization granted to Sompo Seguros Mexico, S.A. de C.V. (formerly Sompo Japan Nipponkoa Insurance de Mexico, S.A. de C.V.), to organize and operate as an insurance institution.

At the margin, a seal with the National Coat of Arms, stating: United Mexican States.- Ministry of Finance and Public Credit.- National Insurance and Surety Commission.- Presidency.- Legal Vice Presidency.- General Legal, Advisory and Intermediaries Directorate.- Advisory Directorate.- Sub-Advisory Directorate.- File: C00.411.13.2.1-S0093"15".- Official Letter No. 06-C00-41100/42939.

SUBJECT: The authorization granted to said Institution is modified due to a change in its corporate name.

SOMPO SEGUROS MEXICO, S.A. DE C.V. (formerly SOMPO JAPAN NIPPONKOA INSURANCE DE MEXICO, S.A. DE C.V.)

Andres Bello 45, 24th floor Col. Polanco Miguel Hidalgo 11560, Mexico City

Attention to: Mr. Junji Hisano Legal Representative

The Federal Government through the National Insurance and Surety Commission and with the prior Agreement of its Board of Directors, based on Articles 11, 66, 369, section II, 370, last paragraph, and 372, section XLI, of the Law of Insurance and Surety Institutions, as well as Articles 6 and 9 of the Internal Regulations of the National Insurance and Surety Commission, issues this resolution in attention to the following:

Background and Considerations:

BACKGROUND

I. Sompo Japan Nipponkoa Insurance de Mexico, S.A. de C.V., was authorized by the Ministry of Finance and Public Credit to function and operate as an insurance institution, through Official Letter 366-IV-936 dated January 26, 1998, published in the Official Gazette of the Federation on April 8 of that same year. This authorization was last modified by said Department through Official Letter 366-III-909/13 dated November 21, 2013, published in the aforementioned Official Gazette on February 19, 2014.

II. Through a written request dated May 13, 2015, Mr. Satoshi Yokoyama, in his capacity as legal representative of Sompo Japan Nipponkoa Insurance de Mexico, S.A. de C.V., requested authorization from this Decentralized Body, among other things, to modify its corporate bylaws and change its corporate name to Sompo Seguros Mexico, S.A. de C.V.

III. Through Official Letters 06-C00-41100/22752 dated October 27, 2015, 06-C00-41100/09990 dated April 25, 2016, and 06-C00-41100/29510 dated October 3, 2016, this Commission approved the modification of the First Clause of the corporate bylaws of Sompo Japan Nipponkoa Insurance de Mexico, S.A. de C.V., in order to change its name to Sompo Seguros Mexico, S.A. de C.V., in accordance with what is provided in Article 66 of the Law of Insurance and Surety Institutions, as evidenced in public deed number 104,912 dated January 20, 2016, granted before the notary public Lic. Jose Luis Quevedo Salceda, holder of Public Notary Office number 99 with practice in this Mexico City, registered in the Public Registry of Property and Commerce of the same City, on February 16, 2016, under commercial folio 233488*.

IV. The modification to the authorization of Sompo Japan Nipponkoa Insurance de Mexico, S.A. de C.V., to operate as an insurance institution, was submitted to the consideration of the Board of Directors of the National Insurance and Surety Commission in its session 195 of July 20, 2017, which agreed, with the prior favorable opinion of the Authorizations Committee of the same Commission, the following:

" FIRST.- The bases of the authorization granted to Sompo Japan Nipponkoa Insurance de Mexico, S.A. de C.V., are MODIFIED due to the change of its corporate name to Sompo Seguros Mexico, S.A. de C.V.

" SECOND.- The base corresponding to social capital is MODIFIED in order to eliminate the reference to the amount, replacing it with a wording that establishes that the institution must have the minimum paid-up capital determined for the year in question, for each operation and lines of business it has authorized, which must be expressed in Investment Units and covered in national currency, in terms of Article 49, first paragraph, of the Law of Insurance and Surety Institutions. "

CONSIDERATIONS

FIRST.- That Article 369, section II, of the Law of Insurance and Surety Institutions, provides that it is the competence of the Board of Directors of this Commission to modify authorizations to organize, operate, and function as an insurance institution.

SECOND.- That as a result of the resolutions contained in the aforementioned Official Letters 06-C00-41100/09990 and 06-C00-41100/29510 dated April 25 and October 3, 2016, the terms of the authorization granted to said insurance institution must be modified.

In view of the foregoing, the following are issued:

RESOLUTIONS

FIRST.- The preamble and Articles One and Three, bases I and II, subsection a), of the authorization granted to Sompo Seguros Mexico, S.A. de C.V. (formerly Sompo Japan Nipponkoa Insurance de Mexico, S.A. de C.V.), a subsidiary of Sompo Japan Insurance Company of America, of New York, United States of America, to organize and function as an insurance institution, are modified, to read as follows:

" AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT, THROUGH THE NATIONAL INSURANCE AND SURETY COMMISSION, TO SOMPO SEGUROS MEXICO, S.A. DE C.V., TO FUNCTION AS AN INSURANCE INSTITUTION SUBSIDIARY OF SOMPO JAPAN INSURANCE COMPANY OF AMERICA, OF NEW YORK, UNITED STATES OF AMERICA, UNDER THE FOLLOWING TERMS:

" ARTICLE ONE.- In exercise of the power conferred on the Federal Government by Articles 5, 33-A, 33-B, and 33-C of the repealed General Law of Insurance and Mutual Insurance Societies, to the Ministry of Finance and Public Credit, and which from April 4, 2015, onwards, is conferred by Article 75 of the Law of Insurance and Surety Institutions, to the National Insurance and Surety Commission, Sompo Seguros Mexico, S.A. de C.V., is authorized to function as an insurance institution subsidiary of Sompo Japan Insurance Company of America, of New York, United States of America.

" ARTICLE THREE.- The subsidiary insurance institution shall be subject to the provisions of the Law of Insurance and Surety Institutions, as well as those derived therefrom, to the General Law of Commercial Societies, and to the other laws applicable to it, and in particular to the following bases:

" I.- The name shall be Sompo Seguros Mexico, followed by the words Variable Capital Anonymous Society or its abbreviations, S.A. de C.V.

" II.- ...

" a) The institution must have the minimum paid-up capital determined for the year in question, for each operation or line of business it has authorized, which must be expressed in Investment Units and covered in national currency, in terms of Article 49, first paragraph, of the Law of Insurance and Surety Institutions.

"..."

"..."

"..." .

SECOND.- The authorization granted to Sompo Seguros Mexico, S.A. de C.V., to organize and function as an insurance institution, after the modification indicated in the previous Resolutive, remains entirely in the following terms:

" AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT, THROUGH THE NATIONAL INSURANCE AND SURETY COMMISSION, TO SOMPO SEGUROS MEXICO, S.A. DE C.V., TO FUNCTION AS AN INSURANCE INSTITUTION SUBSIDIARY OF SOMPO JAPAN INSURANCE COMPANY OF AMERICA, OF NEW YORK, UNITED STATES OF AMERICA, UNDER THE FOLLOWING TERMS:

" ARTICLE ONE.- In exercise of the power conferred on the Federal Government by Articles 5, 33-A, 33-B, and 33-C of the repealed General Law of Insurance and Mutual Insurance Societies, to the Ministry of Finance and Public Credit, and which from April 4, 2015, onwards, is conferred by Article 75 of the Law of Insurance and Surety Institutions, to the National Insurance and Surety Commission, Sompo Seguros Mexico, S.A. de C.V., is authorized to function as an insurance institution subsidiary of Sompo Japan Insurance Company of America, of New York, United States of America.

" ARTICLE TWO.- The subsidiary insurance institution is authorized to conduct in the Mexican Republic the operation of damage, in the lines of civil liability and professional risks, maritime and transport, fire, automobiles, miscellaneous, as well as earthquake and other catastrophic risks.

" ARTICLE THREE.- The subsidiary insurance institution shall be subject to the provisions of the Law of Insurance and Surety Institutions, as well as those derived therefrom, to the General Law of Commercial Societies, and to the other laws applicable to it, and in particular to the following bases:

" I.- The name shall be Sompo Seguros Mexico, followed by the words Variable Capital Anonymous Society or its abbreviations, S.A. de C.V.

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

" a) The institution must have the minimum paid-up capital determined for the year in question, for each operation or line of business it has authorized, which must be expressed in Investment Units and covered in national currency, in terms of Article 49, first paragraph, of the Law of Insurance and Surety Institutions.

" b) The amount of variable capital with withdrawal rights shall in no case be greater than the paid-up capital without withdrawal rights.

" III.- The corporate domicile of the subsidiary insurance institution shall be Mexico City, Federal District.

" ARTICLE FOUR.- By its very nature, this authorization is non-transferable. "

THIRD.- These resolutions must be published in the Official Gazette of the Federation and in two widely circulated newspapers from the corporate domicile of the institution, within one hundred and twenty days following the date of their notification to Sompo Seguros Mexico, S.A. de C.V., in terms of what is provided in Articles 11, in relation to 75 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 Sompo Seguros Mexico, S.A. de C.V., and are limited exclusively to the change of corporate name of said institution, which in accordance with applicable provisions falls within the competence of this Commission to resolve, and does not prejudge the carrying out of any other act that the petitioner may carry out, and which implies the prior authorization or approval of other financial, administrative, tax, or any other nature 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.

This is based on Articles 11, 66, 369, section II, 370, last paragraph, and 372, section XLI, of the Law of Insurance and Surety Institutions, as well as Articles 6 and 9 of the Internal Regulations of the National Insurance and Surety Commission.

Respectfully,

Effective Suffrage. No Re-election.

Mexico City, July 26, 2017. - The President of the National Insurance and Surety Commission, Norma Alicia Rosas Rodriguez. - Rubric.

(R.- 460796)

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