CPIC Life (H.K.) Assigned by Moody's An A3 IFSR, Outlook Stable

HONG KONG, Oct. 22, 2023 /PRNewswire/ -- China Pacific Life Insurance (H.K.) Company Limited ("CPIC Life (HK)" or "the Company") is pleased to announce that the Company was assigned by Moody's Investors Service (Moody's), an A3 Insurance Financial Strength Rating (IFSR) with a stable outlook. This is the first time that Moody's has assigned a rating to CPIC Life (HK).

The A3 IFSR on CPIC Life (HK) reflects the Company's integration with China Pacific Insurance (Group) Co., Ltd. ("CPIC") and China Pacific Life Insurance Co., Ltd. ("CPIC Life", IFSR A1, outlook stable, Baseline credit assessment a2) in terms of brand sharing, risk and capital management, and infrastructure support. The stable outlook of CPIC Life (HK) reflects Moody's expectation that the Company will maintain a solid capital buffer while expanding its operating scale and improving its profitability in the next 12-18 months.

Looking forward, adhering to the mission of "to be a responsible insurance company" of CPIC, CPIC Life (HK) strives to pursue high-quality development and create value for customers, employees, shareholders and society.

About China Pacific Life Insurance (H.K.) Company Limited

China Pacific Life Insurance (H.K.) Company Limited ("CPIC Life (HK)") is a wholly owned subsidiary of China Pacific Life Insurance Co., Ltd. ("CPIC Life") which is a subsidiary of China Pacific Insurance (Group) Co., Ltd. ("CPIC", stock code: 2601.HK，601601.SH，CPIC.LSE). CPIC Life is one of the top three life insurance companies in the Mainland China (in terms of primary insurance premium in 2022). CPIC Life (HK) is committed to providing customers with comprehensive life insurance and wealth management products to meet the clients' needs at different stages of life. It aims to become the best customer experience life insurance company in Hong Kong.

SOURCE China Pacific Life Insurance (H.K.) Company Limited