Official Letter Modifying the Authorization Granted to XL Seguros Mexico, S.A. de C.V., a Subsidiary of XL Insurance Switzerland

DOF: 31/05/2023

OFFICIAL LETTER modifying the authorization granted to XL Seguros Mexico, S.A. de C.V., a subsidiary of XL Insurance Switzerland, of Winterthur, Switzerland, through XL Swiss Holdings Limited, of Fribourg, Switzerland, to organize and operate as an insurance institution.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- SHCP.- Ministry of Finance and Public Credit.- Undersecretariat of Finance and Public Credit.- Unit of Insurance, Pensions and Social Security.- General Legal Directorate of Insurance, Bonds and Pensions.- Official Letter No. 366-III-0209/14.

XL SEGUROS MEXICO, S.A. DE C.V.

(formerly XL Insurance Mexico, S.A. de C.V.)

Campos Eliseos No. 345, Floor 2

Col. Chapultepec Polanco, C.P. 11560

Attn: C. Juliana Revuelta López

Representative

The Federal Government, through this Ministry of Finance and Public Credit, based on the provisions of Articles 31, fraction VIII of the Organic Law of the Federal Public Administration, 33-A, 33-B and 33-C of the General Law of Insurance and Mutual Insurance Companies, and 36, fraction VI of the Internal Regulations of the Ministry of Finance and Public Credit, issues the resolution indicated below, in attention to the following background and considerations:

BACKGROUND

I.

XL Seguros Mexico, S.A. de C.V., is a company authorized by this Ministry to operate as an insurance institution to practice the operation of property damage, in the lines of civil liability and professional risks, marine and transport, fire, diverse, as well as earthquake and other catastrophic risks, as evidenced by resolution 101-00789 of June 10, 2004, published in the Official Gazette of the Federation on September 1 of that same year.

II.

Upon prior request from that institution, through official letter 366-III-084/13 of April 3, 2013, the General Legal Directorate of Insurance, Bonds and Pensions, attached to the Unit of Insurance, Pensions and Social Security:

a)

Approved the reform to Article One of the corporate bylaws of XL Insurance Mexico, S.A. de C.V. resulting from the change of denomination of that insurer to XL Seguros Mexico, S.A. de C.V., in accordance with the resolution adopted by unanimous written consent of the shareholders representing all shares with voting rights on January 16, 2013, contained in public deed 69,331 of January 25, 2013, passed before the notary of Lic. Luis de Angoitia Becerra, Public Notary No. 109 of the Federal District, which accompanied its request.

b)

Requested to send three simple copies of public deed 69,331, with registration data in the Public Commerce Registry, in which the unanimous consent mentioned in the previous subsection was notarized, for the purpose of proceeding to modify its authorization to organize and operate as an insurance institution.

III.

With a writing dated February 11, 2014, XL Seguros Mexico, S.A. de C.V., sent to this Unit of Insurance, Pensions and Social Security, three simple copies of public deed No. 69,331, which was registered in the Public Commerce Registry on April 15, 2013, with commercial folio 323601*.

CONSIDERATIONS

I.

That as a result of the approval of Article One of the corporate bylaws, as indicated in subsection a) of Background II, the terms of the authorization granted to that insurance institution must be modified.

II.

That they sent to this Ministry three simple copies of public deed 69,331 with registration data in the Public Commerce Registry.

RESOLUTION

First.- The preamble, Articles One and Three, fraction I, of the authorization granted to XL Seguros Mexico, S.A. de C.V., a subsidiary of XL Insurance Switzerland, of Winterthur, Switzerland, through XL Swiss Holdings Limited, of Fribourg, Switzerland, to organize and operate as an insurance institution, are modified, to read as follows:

"AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT THROUGH THE MINISTRY OF FINANCE AND PUBLIC CREDIT, TO XL SEGUROS MEXICO, S.A. DE C.V. TO ORGANIZE AND OPERATE AS AN INSURANCE INSTITUTION SUBSIDIARY OF XL INSURANCE SWITZERLAND, OF WINTERTHUR, SWITZERLAND, THROUGH XL SWISS HOLDINGS LIMITED, OF FRI BOURG, SWITZERLAND, IN THE FOLLOWING TERMS:

ARTICLE ONE.- In exercise of the power conferred on the Federal Government by Article 33-C of the General Law of Insurance and Mutual Insurance Companies, this Ministry authorizes XL Seguros Mexico, S.A. de C.V., to organize and operate as an insurance institution subsidiary of XL Insurance Switzerland, of Winterthur, Switzerland, through XL Swiss Holdings Limited, of Fribourg, Switzerland.

ARTICLE THREE.- ...

I.

The denomination will be XL Seguros Mexico, followed by the words Variable Capital Anonymous Society or its abbreviations, S.A. de C.V.

II. - ...

a) ...

b) ...

III. - ..."

Second.- The authorization granted to XL Seguros Mexico, S.A. de C.V., to organize and operate as an insurance institution, after the modification indicated in the previous operative clause, remains entirely in the following terms:

AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT THROUGH THE MINISTRY OF FINANCE AND PUBLIC CREDIT, TO XL SEGUROS MEXICO, S.A. DE C.V., TO ORGANIZE AND OPERATE AS AN INSURANCE INSTITUTION SUBSIDIARY OF XL INSURANCE SWITZERLAND, OF WINTERTHUR, SWITZERLAND, THROUGH XL SWISS HOLDINGS LIMITED, OF FRI BOURG, SWITZERLAND, IN THE FOLLOWING TERMS:

ARTICLE ONE.- In exercise of the power conferred on the Federal Government by Article 33-C of the General Law of Insurance and Mutual Insurance Companies, this Ministry authorizes XL Seguros Mexico, S.A. de C.V., to organize and operate as an insurance institution subsidiary of XL Insurance Switzerland, of Winterthur, Switzerland, through XL Swiss Holdings Limited, of Fribourg, Switzerland.

ARTICLE TWO.- The subsidiary insurance institution is authorized to practice in Mexican territory the operation of property damage insurance, in the lines of civil liability and professional risks, marine and transport, fire, diverse, as well as earthquake and other catastrophic risks.

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

I.

The denomination will be XL Seguros Mexico, followed by the words Variable Capital Anonymous Society or its abbreviations, S.A. de C.V.

II.

The capital will be variable according to the following:

a)

The fixed minimum capital without withdrawal rights will be the amount of $42,464,240.00 (forty-two million four hundred sixty-four thousand two hundred forty pesos 00/100) national currency.

b)

The variable capital with withdrawal rights in no case may exceed the fixed minimum capital without withdrawal rights.

III. - The social domicile of the subsidiary insurance institution will be Mexico City, Federal District.

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

Third.- This resolution will be published in the Official Gazette of the Federation, at the expense of XL Seguros Mexico, S.A. de C.V., in accordance with what is established in Article 33-C of the General Law of Insurance and Mutual Insurance Companies.

Respectfully

Mexico, D.F. on February 26, 2014.- The Deputy General Director, Yolanda Torres Segarra.- Rubric.

THE UNDERSIGNED LEGAL COORDINATOR OF INSURANCE, BONDS AND PENSIONS OF THE UNIT OF INSURANCE, PENSIONS AND SOCIAL SECURITY OF THE MINISTRY OF FINANCE AND PUBLIC CREDIT, LIC. YOLANDA TORRES SEGARRA, ACTING BASED ON THE PROVISIONS OF ARTICLE 8., FRACTION IV OF THE INTERNAL REGULATIONS OF THE MINISTRY OF FINANCE AND PUBLIC CREDIT.

CERTIFIES

That these copies are a faithful and exact reproduction of the original acknowledgment that was in view and which is in the file formed in the archive of the Unit of Insurance, Pensions and Social Security, corresponding to official letter 366-III-0209/14 of February 26, 2014, by which the authorization of XL Seguros Mexico, S.A. de C.V. to organize and operate as an insurance institution was modified.

THIS CERTIFICATION IS ISSUED IN THE CITY OF MEXICO, ON THE THIRTY-FIRST DAY OF THE MONTH OF MARCH OF THE YEAR TWO THOUSAND TWENTY-THREE; IT COMPRISES FOUR USEFUL PAGES WRITTEN ON ONE SIDE ONLY, PROPERLY SEALED AND COMPARED, WITH THIS CERTIFICATION BEING SET ON THE REVERSE OF THE LAST PAGE. LET THERE BE.- Rubric.

(R.- 536452)

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