Resolution Modifying the Authorization Granted to XL Seguros México, S.A. de C.V., Subsidiary of XL Insurance Switzerland, Winterthur, Switzerland, Through XL Swiss Holdings Limited, Fribourg, to Organize and Operate as an Insurance Institution

DOF: 06/28/2023

RESOLUTION whereby the authorization granted to XL Seguros México, S.A. de C.V. is modified

In the margin, a seal with the National Shield, stating: United Mexican States.- SHCP.- Ministry of Finance and Public Credit.- Undersecretariat of Finance and Public Credit.- Insurance, Pensions and Social Security Unit.- Deputy General Legal Directorate of Insurance, Bonds and Pensions.- Official Letter No. 366-III-0505/14.

XL SEGUROS MÉXICO, S.A. DE C.V.

Campos Elíseos No. 345, Floor 2

Col. Chapultepec Polanco, Zip Code 11560

Attention:

Citizen Juliana Revuelta López

Representative

The Federal Government, through this Ministry of Finance and Public Credit, based on the provisions of Articles 31, Section 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 Institutions, and 36, Section VI of the Internal Regulations of the Ministry of Finance and Public Credit, issues the resolution indicated below, in view of the following background and considerations:

BACKGROUND

I.

XL Seguros México, S.A. de C.V., is a company authorized by this Ministry to operate as an insurance institution to practice damage insurance operations, in the branches of civil liability and professional risks, maritime and transport, fire, miscellaneous, as well as earthquake and other catastrophic risks, as evidenced in resolution 101.-00789 of June 10, 2004, published in the Official Gazette of the Federation on September 1 of that same year and modified through instrument 366-III-0209/14 of February 26, 2014.

II.

Through official letter 366-III-0210/14 of February 27, 2014, the Deputy General Legal Directorate of Insurance, Bonds and Pensions, attached to the Insurance, Pensions and Social Security Unit:

a)

Approved the reform to article six of the corporate bylaws of XL Seguros México, S.A. de C.V. derived from the increase in its minimum paid capital from $42,464,240.00 to $70,162,490.00 in the terms appearing in the resolutions adopted by the unanimous consent in writing of the shareholders representing all shares with voting rights of XL Seguros México, S.A. de C.V. of December 23, 2013, which accompanied its request.

b)

Requested to remit the first testimonial and 3 simple copies of the public deed with registration data in the Public Registry of Commerce, in which the unanimous consent indicated in the previous subsection was protocolized, for the purpose of proceeding to modify its authorization to organize and operate as an insurance institution.

III.

With letter of April 23, 2014 and received on April 30 of the same month and year, XL Seguros México, S.A. de C.V., remitted to this Insurance, Pensions and Social Security Unit, the first testimonial and three simple copies of public deed No. 70,888 of March 4, 2014, granted before the faith of Luis de Angoitia Becerra, Public Notary No. 109 of the Federal District, in which the protocolization of the resolutions adopted by the unanimous consent in writing of the shareholders representing all shares with voting rights of XL Seguros México, S.A. de C.V. of December 23, 2013 is evidenced, which resolved the modification of article six of its corporate bylaws, which was registered in the Public Registry of Commerce on April 9, 2014, with commercial folio 323601*.

CONSIDERATIONS

I.

That derived from the approval to article six 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 within the period cited in Background II, subsection b) they remitted to this Ministry the first testimonial and three simple copies of public deed 70,888 with registration data in the Public Registry of Commerce.

RESOLUTION

First.- Article three, Section II, subsection a), of the authorization granted to XL Seguros México, S.A. de C.V., subsidiary of XL Insurance Switzerland, of Winterthur, Switzerland, through XL Swiss Holdings Limited, of Fribourg, Switzerland, to organize and operate as an insurance institution is modified, to remain in the following terms:

" ARTICLE THREE.- ...

I.- ...

II.- ...

a)

The minimum fixed capital without withdrawal rights shall be the amount of $70,162,490.00 (Seventy Million One Hundred Sixty-Two Thousand Four Hundred Ninety Pesos 00/100 National Currency), in which the amount of the minimum paid capital indicated in Article 29, Section I, first paragraph of the General Law of Insurance and Mutual Insurance Institutions is included.

b)

...

III.- ... "

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

AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT THROUGH THE MINISTRY OF FINANCE AND PUBLIC CREDIT, TO XL SEGUROS MÉXICO, 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, IN THE FOLLOWING TERMS:

ARTICLE ONE.- In use of the power conferred on the Federal Government by Article 33-C of the General Law of Insurance and Mutual Insurance Institutions, this Ministry authorizes XL Seguros México, 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 damage insurance operations in Mexican territory, in the branches of civil liability and professional risks, maritime and transport, fire, miscellaneous, as well as earthquake and other catastrophic risks.

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

I.- The name shall be XL Seguros México, followed by the words Limited Liability Stock Company with Variable Capital or its abbreviations, S.A. de C.V.

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

a)

The minimum fixed capital without withdrawal rights shall be the amount of $70,162,490.00 (Seventy Million One Hundred Sixty-Two Thousand Four Hundred Ninety Pesos 00/100 National Currency), in which the amount of the minimum paid capital indicated in Article 29, Section I, first paragraph of the General Law of Insurance and Mutual Insurance Institutions is included.

b)

The variable capital with withdrawal rights may in no case be greater than the minimum fixed capital without withdrawal rights.

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

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

Third.- This resolution shall be published in the Official Gazette of the Federation, at the expense of XL Seguros México, S.A. de C.V., in accordance with the provisions of Article 33-C of the General Law of Insurance and Mutual Insurance Institutions.

Respectfully

Mexico, Federal District, on June 24, 2014.- The Deputy General Director, Yolanda Torres Segarra.- Signature.

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

CERTIFIES

That the present copies are a faithful and exact reproduction of the original receipt that was viewed and which is in the file formed in the archive of the Insurance, Pensions and Social Security Unit, corresponding to official letter 366-III-0505/14 of June 24, 2014, through which the authorization of XL Seguros México, S.A. de C.V. to organize and operate as an insurance institution was modified.

THIS CERTIFICATION IS ISSUED IN MEXICO CITY, ON THE SIXTEENTH DAY OF THE MONTH OF JUNE OF THE YEAR TWO THOUSAND TWENTY-THREE; IT COMPRISES FOUR USEFUL PAGES WRITTEN ON ONE SIDE, DULY SEALED AND COMPARED, SETTING FORTH THIS CERTIFICATION ON THE REVERSE OF THE LAST PAGE.

WITNESS.- Signature.

(R.- 538160)

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