China Reinsurance : ANNOUNCEMENT - THE ANNUAL REPORTS, AUDIT REPORTS AND AUDITED SOLVENCY STATEMENTS OF CHINA RE P&C AND CHINA RE LIFE FOR THE YEAR ENDED 31 DECEMBER 2020

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China Reinsurance (Group) Corporation

中國再保險（集團）股份有限公司

(A joint stock limited liability company incorporated in the People's Republic of China)

(Stock Code: 1508)

ANNOUNCEMENT

THE ANNUAL REPORTS, AUDIT REPORTS AND AUDITED SOLVENCY

STATEMENTS OF CHINA RE P&C AND CHINA RE LIFE

FOR THE YEAR ENDED 31 DECEMBER 2020

This announcement is made by China Reinsurance (Group) Corporation (the "Company") pursuant to the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

References are made to the voluntary announcements of the Company dated 17 August 2018, 29 November 2018 and 9 December 2020 in relation to the completion of the issuance of the capital supplementary bonds of China Property and Casualty Reinsurance Company Ltd. ("China Re P&C") and China Life Reinsurance Company Ltd. ("China Re Life"), subsidiaries of the Company. China Re P&C has successfully issued the capital supplementary bonds with total principal amounts of RMB4 billion and RMB4 billion publicly in the National Interbank Bond Market, respectively, and China Re Life has successfully issued the capital supplementary bonds with total principal amounts of RMB5 billion publicly in the National Interbank Bond Market. In accordance with the relevant regulations, within the duration of the capital supplementary bonds, China Re P&C and China Re Life need to disclose their annual reports, audit reports and audited solvency statements of the previous year at the websites of China Money (www.chinamoney.com.cn) and China Bond (www.chinabond.com.cn). For details, please refer to the 2020 Annual Report of China Reinsurance (Group) Corporation published on the websites of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and the Company (www.chinare.com.cn) on 26 April 2021, the relevant annual reports to be disclosed at the websites of China Money and China Bond by China Re P&C and China Re Life in due course.

On behalf of the Board

China Reinsurance (Group) Corporation

Zhu Xiaoyun

Joint Company Secretary

Beijing, the PRC, 26 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. Yuan Linjiang and Mr. He Chunlei, the non-executive directors of the Company are Ms. Lu Xiuli, Mr. Wen Ning, Ms. Wang Xiaoya and Mr. Liu Xiaopeng, and the independent non-executive directors of the Company are Mr. Hao Yansu, Mr. Li Sanxi, Ms. Mok Kam Sheung and Ms. Jiang Bo.