Official Letter Modifying the Authorization Granted to Zurich, Compañía de Seguros, S.A. to Organize and Operate as an Insurance Institution

DOF: 06/12/2021

OFFICIAL LETTER through which the authorization granted to Zurich, Compañía de Seguros, S.A. to organize and function as an insurance institution is modified.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- SHCP.- Ministry of Finance and Public Credit.- National Commission of Insurance and Sureties.- Presidency.- Legal Vice Presidency.- General Directorate for Legal Advisory and Intermediaries.- Advisory Directorate.- Sub-directorate for Advisory.- File: C00.411.13.2.1-S0025 " 15 ".- Official Letter No. 06-C00-41100/23176.

SUBJECT:

The authorization granted to

Zurich, Compañía de Seguros, S.A. is modified.

ZURICH, COMPAÑÍA DE SEGUROS, S.A.

Av. Ejército Nacional 843-B

Col. Granada

Miguel Hidalgo

11520, Mexico City

Attention:

Lic. Mauricio Malo González

Legal Representative

The Federal Government, through the National Commission of Insurance and Sureties, and prior Agreement of its Board of Directors, based on articles 11, 75, 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 Commission of Insurance and Sureties, issues these Resolutions in response to the following Background and Considerations:

BACKGROUND

I.

Zurich, Compañía de Seguros, S.A., was authorized by the Ministry of Finance and Public Credit to operate as a subsidiary insurance institution, through resolution 103-E-366-DGSV-I-B-a- 3400 of July 16, 1992. This authorization was last modified by this National Commission of Insurance and Sureties through Official Letter 06-C00-41100/69331 of December 15, 2017.

II.

With writings dated June 8 and July 1, 2015, as well as August 23, 2016, Lic. Mauricio Malo González, in his capacity as Special Delegate of Zurich, Compañía de Seguros, S.A., requested authorization from this Commission to reform the corporate bylaws of said institution, in terms of the Minutes of the Extraordinary Shareholders' Meeting of March 27, 2015, a copy of which with original signatures was attached to said request, in order to comply with what is established in the Law of Insurance and Surety Institutions.

III.

Through Official Letter 06-C00-41100/14008 of March 12, 2018, this Commission took note that Zurich, Compañía de Seguros, S.A., complied with Resolution Second of Official Letter 06-C00- 41100/46664 of August 21, 2017, by which the comprehensive modification of the corporate bylaws of said institution was approved, in the terms contained in public deed 38,559 of November 30, 2016, granted before the faith of Lic. Pedro Vázquez Nava, holder of Public Notary number 70 of Mexico City, in which the protocolization of the Minutes of the Extraordinary Shareholders' Meeting of March 27, 2015 is recorded, through which the aforementioned reform was agreed; likewise, it was noted that said instrument is registered in the Public Registry of Property and Commerce of this City, on September 19, 2017, under commercial folio 23857*.

IV.

The modification to the bases of the authorization of Zurich, Compañía de Seguros, S.A., to operate as an insurance institution, was submitted for consideration to the Board of Directors of this National Commission of Insurance and Sureties in its Session 200 of April 24, 2018, which agreed, prior to the favorable opinion of the Authorizations Committee of the same Commission, the following:

« UNIQUE.- MODIFY the bases of the authorization granted to Zurich, Compañía de Seguros, S.A., in order to reflect the reforms carried out in the corporate bylaws of said institution by eliminating the reference to " Earthquake " from its social object, since in the branch of Catastrophic Risks, earthquake risks are included. This is based on articles 25, section III, subsection j), and 27, section XV, 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 within the competence of the Board of Directors of this Commission to modify the authorizations to organize, operate, and function as an insurance institution.

SECOND.- That in terms of what is stated in Background IV of this Official Letter, the Board of Directors of this Commission in its Session 200 of April 24, 2018, agreed to modify the bases of 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 Zurich, Compañía de Seguros, S.A., to organize and function as an insurance institution, is modified, to read as follows:

"...

" ARTICLE TWO.- The subsidiary insurance institution is authorized to practice the operation of accident and health insurance, in the branches of personal accidents and medical expenses, as well as the operation of damage insurance, in the branches of civil liability and professional risks, maritime and transport, fire, automobiles, miscellaneous, and catastrophic risks.

"..." .

SECOND.- The authorization granted to Zurich, Compañía de Seguros, S.A., 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 TO ZURICH, COMPAÑÍA DE SEGUROS, S.A., TO FUNCTION AS A SUBSIDIARY INSURANCE INSTITUTION OF ZURICH INSURANCE COMPANY LTD., OF ZURICH, SWITZERLAND, IN THE FOLLOWING TERMS:

ARTICLE FIRST.- In exercise of the power conferred on the Federal Government by articles 5º, 33-A, 33-B and 33-C of the repealed General Law of Insurance and Mutual Societies, to the Ministry of Finance and Public Credit, and which from April 4, 2015, is conferred by article 75 of the Law of Insurance and Surety Institutions, to the National Commission of Insurance and Sureties, Zurich, Compañía de Seguros, S.A., is authorized to function as an insurance institution, subsidiary of Zurich Insurance Company Ltd., of Zurich, Switzerland.

ARTICLE SECOND.- The subsidiary insurance institution is authorized to practice the operation of accident and health insurance, in the branches of personal accidents and medical expenses, as well as the operation of damage insurance, in the branches of civil liability and professional risks, maritime and transport, fire, automobiles, miscellaneous, and catastrophic risks.

ARTICLE THIRD.- 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, to the other laws applicable to it, and, in particular, to the following bases:

I.

The name shall be Zurich, Compañía de Seguros, followed by the words Sociedad Anónima or its abbreviations, S.A.

II.

The institution must have the minimum paid capital determined for the year in question, for each operation or branch it has authorized, which must be expressed in Investment Units and must be covered in national currency, in terms of article 49, first paragraph, of the Law of Insurance and Surety Institutions.

III.

The social domicile of the subsidiary insurance institution shall be Mexico City, Federal District.

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 widely circulated newspapers at the social domicile of the institution, within one hundred twenty days following the date of notification to Zurich, Compañía de Seguros, S.A., in terms of what is provided in article 11, in relation to article 75, both 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 sent and are limited exclusively to the modification of the authorization granted to Zurich, Compañía de Seguros, S.A., in the terms described that, in accordance with the applicable provisions, fall within the jurisdiction of this Commission to resolve, and do 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 do they validate the legality or validity thereof in case such authorizations or approvals are not obtained.

This is based on articles 11, 75, 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 Commission of Insurance and Sureties.

Respectfully

Mexico City, April 25, 2018.- The President of the National Commission of Insurance and Sureties, Mtra. Norma Alicia Rosas Rodríguez.- Rubric.

(R.- 514633)

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