Recently, A.M. Best has upgraded the financial strength rating (the “FSR”) of China Reinsurance (Hong Kong) Company Limited (“China Re HK”) from “A- (Excellent)” to “A (Excellent)”, and the long-term issuer credit rating (the “ICR”) of China Re HK from “a-” to “a”. Meanwhile, AM Best has adjusted the long-term issuer credit rating outlook from “stable” to “positive” and kept the “stable” financial strength rating outlook.

　　These ratings reflect China Re Group’s “very strong” balance sheet strength, good operating performance and matching risk management level, and also reflect China Re HK’s important strategic role to China Re Group as the only overseas life reinsurance company of the Group, and the sound integration of related businesses within the Group. In addition, these ratings also benefit from the support of China Re Life in terms of capital, brand awareness, business expansion, investment management, risk management and operation management.

　　A.M. Best is a global credit rating agency focused on the insurance industry, and rating standards and results widely accepted by the international insurance and reinsurance industry.