Official Letter Modifying the Authorization to Organize, Operate and Function as an Insurance Institution Granted to General Seguros, S.A.B.

Official Gazette of the Federation: 08/11/2022

OFFICIAL LETTER modifying the authorization to organize, operate and function as an insurance institution granted to General Seguros, S.A.

In the margin a seal with the National Shield, which says: United Mexican States.- FINANCE.- Ministry of Finance and Public Credit.- National Insurance and Surety Commission.- Presidency.- Official Letter No. 06-C00- 41000-07908/2022.

GENERAL DE SEGUROS, S.A.

(Previously General de Seguros, S.A.B.)

Avenida Patriotismo No. 266

Neighborhood San Pedro de los Pinos

Borough Benito Juárez

Zip Code 03800, Mexico City

SUBJECT :

The authorization to

organize, operate and function as

an insurance institution granted to

General Seguros, S.A.B. is modified.

The Federal Government, through the National Insurance and Surety Commission, prior to Agreement of its Governing Board, based on articles 2, section 1, 17, 26 and 31, section VIII, of the Organic Law of the Federal Public Administration; 2, section D, section III, of the Internal Regulations of the Ministry of Finance and Public Credit; 11, 366, section VIII, 367, sections I and II, 369, section II, 370, last paragraph, 372, section XLI, and 373 of the Insurance and Surety Institutions Law; as well as in articles 4, sections I and II, 6 and 9 of the Internal Regulations of the National Insurance and Surety Commission; issues the present Resolutions in attention to the following Background and Considerations:

BACKGROUND

FIRST.-

General de Seguros, S.A., was authorized by the Ministry of Finance and Public Credit

through official letter 102-E-366-DGSV-I-B-a-3960 of September 11, 1990, to organize and function

as an insurance institution.

Said authorization was modified for the last time by the cited Ministry by

Official Letter 366-IV-USVP-027/07 of February 16, 2007, published in the Official Gazette of the Federation of July 18

of that same year. The referred insurance institution is authorized to practice the

operation of life insurance, the operation of accident and health insurance, in the branches of personal

accidents and medical expenses, and the operation of damage insurance, in the branches of civil liability and

professional risks, maritime and transport, fire, agricultural and animals, automobiles, credit, diverse,

earthquake and other catastrophic risks, as well as surety reinsurance operations.

SECOND.- By letters of June 18, August 11 and November 1, 2021, said institution requested

the approval of this Commission to reform its corporate bylaws, in order to cease being a

publicly traded corporation and the elimination of all reference to the Securities Market Law and other regulation

related to it, among others.

THIRD.-

Through official letter 06-C00-41100-01172/2022 of February 16, 2022, this Commission

approved the modification of the corporate bylaws.

FOURTH.-

By letter of May 4, 2022, that institution sent to this Commission the

protocolization of the minutes of the extraordinary general shareholders meeting held on March 29, 2022,

through Public Deed 132,134 of May 4, 2022, granted before the faith of Lic. Francisco Javier

Arce Gargollo, Public Notary number 74 of Mexico City, in attention to the second resolution of

Official Letter 06-C00-41100-01172/2022 of February 16, 2022.

FIFTH.-

By Official Letter 06-C00-41000-04852/2022 of June 7, 2022, this Commission considered fulfilled

the resolution by which it instructed the institution the protocolization of the commented minutes and ordered its inscription

in the corresponding Public Registry of Commerce.

SIXTH.- By letter of August 2, 2022, that institution sent to this Commission the

protocolization of the minutes of the extraordinary general shareholders meeting held on March 29, 2022,

with registration data in the corresponding Public Registry, in compliance with official letter 06-C00-41000- 04852/2022 of June 7, 2022.

SEVENTH.- By official letter 06-C00-41000-07244/2022 of August 22, 2022, this Commission considered

presented the referenced notarial instrument, with registration data in the Public Registry of the

Property and Commerce of Mexico City, under the folio

electronic commercial folio 1609-1.

EIGHTH.- The Governing Board of the National Insurance and Surety Commission in its Session 229 of September 15

of 2022, taking into consideration the favorable opinion issued by the Committee of

Authorizations agreed the following:

" SOLE.- THE AUTHORIZATION granted to General de Seguros, S.A.B. , is MODIFIED , to effect

of reflecting the reforms made in the corporate bylaws of said institution by change

of its corporate name to General de Seguros, S.A., the update of the name

of the headquarters of the social domicile of that institution eliminating the reference to " Federal District "

and leaving only " Mexico City " , that relative to the amount of share capital with which

that institution counts, as well as the elimination of the reference to " earthquake " , by virtue of

that in the branch of catastrophic risks are included the risks of earthquake.

" This based on articles, 11, 66 and 369, section II, of the Insurance and Surety

Institutions Law; in Provisions 2.3.1. to 2.3.3. and 2.3.7. of the Unified Insurance and Surety Circular " .

Once the above is exposed, and:

CONSIDERATIONS

FIRST.- That article 369, section II, of the Insurance and Surety Institutions Law, provides

that it corresponds to the Governing Board of this Commission to modify the authorizations to organize,

operate and function as an insurance institution.

SECOND.- That in accordance with what is indicated in Background Eighth of the present, the Governing

Board of this Commission in its Session 229 of September 15, 2022, agreed to modify the authorization

granted to that insurance institution.

Based on the above, the following are issued:

RESOLUTIONS

FIRST.- The Preamble is modified, as well as Articles First, Second and Third, basis I, II, and III of

the authorization granted to General de Seguros, S.A.B. (now General de Seguros, S.A.), to organize,

operate and function as an insurance institution, to remain in the following terms:

«AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT TO GENERAL DE SEGUROS,

S.A., TO ORGANIZE, FUNCTION AND OPERE AS AN INSURANCE INSTITUTION,

IN THE FOLLOWING TERMS:

«ARTICLE FIRST.- In use of the faculty conferred by article 5 of the repealed Law

General of Insurance Institutions and Mutual Societies to the Ministry of Finance

and Public Credit, and that from April 4, 2015 confers article 11 of the Law of

Insurance and Surety Institutions to the National Insurance and Surety Commission, is

authorized to General de Seguros, S.A., to organize, operate and function as an institution

of insurance.

«ARTICLE SECOND.- The insurance institution is authorized to practice the

operation of life insurance, the operation of accident and health insurance, in

the branches of personal accidents and medical expenses and the operation of damage insurance, in the branches of civil liability and professional risks, maritime and transport,

fire, agricultural and animals, automobiles, credit, diverse, catastrophic risks, and the

operation of surety reinsurance.

«ARTICLE THIRD.- The insurance institution will be subject to the provisions of the Law

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

Law

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

particular, to the following bases:

«I.- The name shall be General de Seguros, followed by the words " Corporation

Anonymous " or its abbreviation " S.A. " .

«II.- The institution must have the minimum paid-in capital that is determined for the year

in question, for each operation or branch that it has authorized, expressed in Units

of Investment and that must cover in national currency, in terms of article 49, paragraph

first, of the Law of Insurance and Surety Institutions.

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

«ARTICLE FOURTH.- ... " »

SECOND.- The authorization granted to General de Seguros, S.A., to organize, operate and function

as an insurance institution, after the modification indicated in the previous Resolution, remains

fully in the following terms:

«AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT TO GENERAL DE SEGUROS,

S.A., TO ORGANIZE, FUNCTION AND OPERE AS AN INSURANCE INSTITUTION,

IN THE FOLLOWING TERMS:

«ARTICLE FIRST.- In use of the faculty conferred by article 5 of the repealed Law

General of Insurance Institutions and Mutual Societies to the Ministry of Finance

and Public Credit, and that from April 4, 2015 confers article 11 of the Law of

Insurance and Surety Institutions to the National Insurance and Surety Commission, is

authorized to General de Seguros, S.A., to organize, operate and function as an institution

of insurance.

«ARTICLE SECOND.- The insurance institution is authorized to practice the

operation of life insurance, the operation of accident and health insurance, in

the branches of personal accidents and medical expenses, and the operation of damage insurance, in the branches of civil liability and professional risks, maritime and transport,

fire, agricultural and animals, automobiles, credit, diverse, catastrophic risks, and the

operation of surety reinsurance.

«ARTICLE THIRD.- The insurance institution will be subject to the provisions of the Law

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

Law

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

particular, to the following bases:

«I.- The name shall be General de Seguros, followed by the words " Corporation

Anonymous " or its abbreviation " S.A. " .

«II.- The institution must have the minimum paid-in capital that is determined for the year

in question, for each operation or branch that it has authorized, expressed in Units

of Investment and that must cover in national currency, in terms of article 49, paragraph

first, of the Law of Insurance and Surety Institutions.

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

«ARTICLE FOURTH.- By its own nature this authorization is non-transferable.»

THIRD.- This Official Letter must be published in the Official Gazette of the Federation and in two newspapers of

wide circulation of the social domicile of the institution, within the one hundred twenty days following the date

of

its notification to General de Seguros, S.A., in terms of what is provided in article 11 of the Law of

Insurance and Surety Institutions, at the expense of the interested parties.

The present is issued based on the information provided by the applicant contained in the

letters sent and is limited exclusively to the modification of the authorization granted to General

de Seguros, S.A., in the terms described that in accordance with the applicable provisions corresponds

to resolve to this Commission, and does not prejudge any act that said society carries out and that implies

the prior authorization or approval of other financial, administrative, fiscal or any

other nature, in terms of current regulations, nor validates the legality or validity of the same in case

that said authorizations or approvals are not obtained.

The above based on articles 2, section I, 17, 26 and 31, section VIII, of the Organic Law of the

Federal Public Administration; 2, section D, section III, of the Internal Regulations of the Ministry of

Finance and Public Credit; 11, 366, section VIII, 367, sections I and II, 369, section II, 370, last paragraph,

372, section XLI, and 373 of the Insurance and Surety Institutions Law, as well as in articles 4,

sections I and II, 6 and 9 of the Internal Regulations of the National Insurance and Surety Commission.

Sincerely

Mexico City, September 15, 2022. - The President of the National Insurance and

Surety Commission , Ricardo Ernesto Ochoa Rodríguez .- Signature.

(R.- 528728)

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