Official Letter Modifying the Authorization Granted to Tokio Marine Compañía de Seguros, S.A. de C.V. to Operate as an Insurance Institution

DOF: 19/12/2017

OFFICIAL LETTER modifying the authorization granted to Tokio Marine Compañía de Seguros, S.A. de C.V. to operate as an insurance institution.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Insurance and Sureties Commission.- Presidency.- Legal Vice Presidency.- General Legal, Advisory and Intermediaries Directorate.- Advisory Directorate.- Sub-Advisory Directorate.

File: C00.411.13.2.1-S0080"15".- Official Letter No. 06-C00-41100/50121.

SUBJECT:

The authorization granted to Tokio Marine Compañía de Seguros, S.A. de C.V. is modified.

TOKIO MARINE COMPAÑÍA DE SEGUROS, S.A. DE C.V.

Adolfo López Mateos No. 261, 5th Floor

Col. Los Alpes

Álvaro Obregón

C.P. 01010, Mexico City

Attention:

Mr. Kazunori Okamoto

Legal Representative

The Federal Government through the National Insurance and Sureties Commission, and after agreement by its Board of Directors, based on articles 11, 66, 75, 369, section II, 370, last paragraph, and 372, section XLI, of the Insurance and Surety Institutions Law, as well as articles 6 and 9 of the Internal Regulations of the National Insurance and Sureties Commission, issues the following resolutions in attention to the following Background and Considerations:

BACKGROUND

1. Tokio Marine Compañía de Seguros, 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 102-E-366-DGSV-I-B-a-4612 of November 22, 1994. This authorization was last modified by Official Letter 366-104/11 of August 31, 2011.

2. With writings dated July 27, 2015, October 19, 2016, and March 30 and July 7, 2017, Mr. Kazunori Okamoto, in his capacity as General Director and legal representative of Tokio Marine Compañía de Seguros, S.A. de C.V., requested approval from this Commission to carry out a comprehensive reform of the corporate bylaws of that institution, which was agreed upon in its Extraordinary General Shareholders' Meeting held on July 24, 2015.

3. Through Official Letter 06-C00-41100/42165 of July 21, 2017, this Commission approved the comprehensive reform of the corporate bylaws of Tokio Marine Compañía de Seguros, S.A. de C.V., in the terms agreed upon in the notarization of the minutes of the Extraordinary General Shareholders' Meeting of March 10, 2017, contained in public instrument number 118,373 of March 21, 2017, granted before the notary public Lic. Javier Isaías Pérez Almaraz, Public Notary Number 125, acting as associate in the protocol of Notary Office Number 137 under the charge of Lic. Carlos de Pablo Serna in Mexico City, registered in the Public Registry of Property and Commerce of Mexico City, under commercial folio 194524*, on June 15, 2017.

4. As a result of the foregoing in Backgrounds 2 and 3, the National Insurance and Sureties Commission presented before the Authorizations Committee of said Commission, the proposal to modify the terms of the authorization of Tokio Marine Compañía de Seguros, S.A. de C.V., in order to eliminate the reference to the "Earthquake" line of business in the operation of damages in its corporate purpose, inasmuch as according to articles 25, section III, subsection j), and 27, section XV, of the Insurance and Surety Institutions Law, earthquake risks are included in the Catastrophic Risks line of business, as well as the update of the denomination of the headquarters of the social domicile of that institution, substituting the words "Federal District" with "Mexico City", in accordance with the "Decree declaring reforms and derogations of various provisions of the Political Constitution of the United Mexican States, in matters of the political reform of Mexico City", published in the Official Gazette of the Federation on January 29, 2016, and that relative to the amount of social capital it holds, in order to state that its capital must be expressed in Investment Units and be paid in national currency, as ordered by article 49, first paragraph, of the Insurance and Surety Institutions Law.

5. The aforementioned modification was submitted to the consideration of the Board of Directors of the National Insurance and Sureties Commission in its session 196 of August 29, 2017, which, taking into account the favorable opinion issued by the Authorizations Committee of the same Commission, agreed as follows:

"SINGLE.- The terms of the authorization granted to Tokio Marine Compañía de Seguros, S.A. de C.V. are MODIFIED, in order to reflect the modifications made to the corporate bylaws of said institution, which are described below:

a) The adaptation of the text of its corporate purpose inasmuch as the reference to the "Earthquake" line of business in the operation of damages was eliminated, inasmuch as according to articles 25, section III, subsection j), and 27, section XV, of the Insurance and Surety Institutions Law, earthquake risks are included in the Catastrophic Risks line of business.

b) Substitute in its social domicile the reference "Federal District" with "Mexico City".

c) Eliminate the reference to the capital amount of said insurance institution, substituting it with a wording that establishes that the institution must have the minimum paid-in 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 paid in national currency, as ordered by article 49, first paragraph, of the Insurance and Surety Institutions Law."

CONSIDERATIONS

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

SECOND.- That as a result of the resolution issued in the aforementioned Official Letter 06-C00-41100/42165 of July 21, 2017, the terms of the authorization granted to that insurance institution must be modified.

In view of the foregoing, the following are issued:

RESOLUTIONS

FIRST.- The Preamble and Articles First, Second, Third, Bases II and III of the authorization granted to Tokio Marine Compañía de Seguros, S.A. de C.V. to operate as an insurance institution are modified, leaving the aforementioned parts in the following terms:

"AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT, THROUGH THE NATIONAL INSURANCE AND SURETIES COMMISSION, TO TOKIO MARINE COMPAÑÍA DE SEGUROS, S.A. DE C.V., TO FUNCTION AS AN INSURANCE INSTITUTION SUBSIDIARY OF TOKIO MARINE & NICHIDO FIRE INSURANCE CO. LTD., OF JAPANESE NATIONALITY, IN THE FOLLOWING TERMS:

"ARTICLE FIRST.- In exercise of the power conferred by articles 5 and 33-C of the repealed General Law of Insurance Institutions and Mutual Insurance Societies to the Ministry of Finance and Public Credit, and which from April 4, 2015, onwards, are conferred by articles 11 and 75 of the Insurance and Surety Institutions Law to the National Insurance and Sureties Commission, authorization is granted to Tokio Marine Compañía de Seguros, S.A. de C.V., to operate as an insurance institution subsidiary of Tokio Marine & Nichido Fire Insurance CO. LTD., of Japanese nationality.

"ARTICLE SECOND.- The subsidiary insurance institution is authorized to practice in the Mexican Republic the operation of life insurance, the operation of accidents and illnesses, in the lines of personal accidents and medical expenses, the operation of damages, in the lines of civil liability and professional risks, maritime and transports, fire, automobiles, credit in reinsurance, miscellaneous and catastrophic risks.

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

" ...

" II.- The subsidiary insurance institution must have the minimum paid-in capital determined for the year in question, for each operation or line of business it has authorized, expressed in Investment Units and which must be paid in national currency, as ordered by article 49, first paragraph, of the Insurance and Surety Institutions Law.

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

" ... " .

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

"AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT, THROUGH THE NATIONAL INSURANCE AND SURETIES COMMISSION, TO TOKIO MARINE COMPAÑÍA DE SEGUROS, S.A. DE C.V., TO FUNCTION AS AN INSURANCE INSTITUTION SUBSIDIARY OF TOKIO MARINE & NICHIDO FIRE INSURANCE CO. LTD., OF JAPANESE NATIONALITY, IN THE FOLLOWING TERMS:

"ARTICLE FIRST.- In exercise of the power conferred by articles 5 and 33-C of the repealed General Law of Insurance Institutions and Mutual Insurance Societies to the Ministry of Finance and Public Credit, and which from April 4, 2015, onwards, are conferred by articles 11 and 75 of the Insurance and Surety Institutions Law to the National Insurance and Sureties Commission, authorization is granted to Tokio Marine Compañía de Seguros, S.A. de C.V., to operate as an insurance institution subsidiary of Tokio Marine & Nichido Fire Insurance CO. LTD., of Japanese nationality.

"ARTICLE SECOND.- The insurance institution is authorized to practice in the Mexican Republic the operation of life insurance, the operation of accidents and illnesses, in the lines of personal accidents and medical expenses, the operation of damages, in the lines of civil liability and professional risks, maritime and transports, fire, automobiles, credit in reinsurance, miscellaneous and catastrophic risks.

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

" I.- The denomination shall be "Tokio Marine Compañía de Seguros, S.A. de C.V.".

" II.- The subsidiary insurance institution must have the minimum paid-in capital determined for the year in question, for each operation or line of business it has authorized, expressed in Investment Units and which must be paid in national currency, as ordered by article 49, first paragraph, of the Insurance and Surety Institutions Law.

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

" ARTICLE FOURTH.- 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 newspapers of wide circulation from the social domicile of the institution, within one hundred twenty days following the date of their notification to Tokio Marine Compañía de Seguros, S.A. de C.V., in terms of what is established in article 75, second paragraph, of the Insurance and Surety Institutions Law, at the expense of the interested parties.

These resolutions are issued based on the information provided by the petitioner contained in the writings sent and are limited exclusively to the modification of the authorization granted to Tokio Marine Compañía de Seguros, S.A. de C.V., in the terms described which, in accordance with the applicable provisions, it is the competence of this Commission to resolve, and do not prejudge any act that said society carries out and which implies prior authorization or approval of other financial, administrative, tax or any other authorities, in terms of current regulations, nor do they validate the legality or validity of the same in case such authorizations or approvals are not obtained.

You are hereby informed of the foregoing, based on articles 11, 66, 75, 369, section II, 370, last paragraph, and 372, section XLI, of the Insurance and Surety Institutions Law, as well as articles 6 and 9 of the Internal Regulations of the National Insurance and Sureties Commission.

Respectfully,

Effective Suffrage. No Re-election.

Mexico City, September 1, 2017. - The President of the National Insurance and Sureties Commission, Norma Alicia Rosas Rodríguez. - Rubric.

(R.- 460600)

In the document you are viewing, there may be text, characters or objects that are not displayed correctly due to conversion to HTML format, so we recommend always taking the digitized image of the DOF or the PDF file of the edition as a reference. The content, form and scope of the published documents are the strict responsibility of their issuer.

INQUIRY

BY DATE

Do Mo Tu We Th Fr Sa

INDICATORS

Exchange Rate and Rates as of 29/08/2026

UDIS

8.809369

See more

SURVEYS

Did you like the new look of the Official Gazette of the Federation website?

No

Yes

Official Gazette of the Federation

Río Amazonas No. 62, Col. Cuauhtémoc, C.P. 06500, Mexico City Tel. (55) 5093-3200, where you can access our menu of services

Electronic address: dof.gob.mx

113

LEGAL NOTICE | SOME RIGHTS RESERVED © 2026