China Reinsurance : NOMINATION OF EXECUTIVE DIRECTOR CANDIDATE

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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)

NOMINATION OF EXECUTIVE DIRECTOR CANDIDATE

The board of directors (the "Board") of China Reinsurance (Group) Corporation (the "Company") has considered and approved the "Resolution on the Nomination of Mr. Zhuang Qianzhi (莊乾

志) as a Director for the Fourth Session of the Board of the Company" at the meeting held on 26 April 2021, pursuant to which, the Board is pleased to announce that Mr. Zhuang Qianzhi has been nominated as an executive director candidate for the fourth session of the Board due to work requirement. His appointment is subject to the approval by the shareholders' general meeting of the Company. His term of office will commence from the date of approval by China Banking and Insurance Regulatory Commission of his qualification as a director and the performance of the procedural requirements set out in the articles of association of the Company and end on the expiration of the term of the fourth session of the Board, and he may serve consecutive terms if he is re-elected upon expiration of his term of office.

Biographical details of Mr. Zhuang Qianzhi are as follows:

Mr. Zhuang Qianzhi, born in January 1972, is the Vice President and the Chief Risk Officer of the Company, and a senior economist. Before joining the Company, Mr. Zhuang served as a senior manager in the securities pledged loan division of the business department under the head office of China Construction Bank Corporation (a company listed on the Shanghai Stock Exchange (stock code: 601939) and listed on the main board of The Stock Exchange of Hong Kong Limited (stock code: 939)); a deputy general manager of the investment banking department, general manager of strategy department and risk management department, head of the general office and assistant to the president of China Construction Investment Group Co., Ltd.; an executive director and vice president of the Southwest Securities Co., Ltd. (a company listed on the Shanghai Stock Exchange, stock code: 600369); and the chairman of the board of directors of JIC Technology Investment Co., Ltd. Mr. Zhuang obtained a doctoral degree in economics from Guanghua School of Management of Peking University and is a post doctor of the School of Civil and Commercial Law of Southwest University of Political Science and Law.

Save as disclosed above, Mr. Zhuang Qianzhi confirms that: (1) he has not held any directorships in other listed companies in the past three years, and he does not hold any other major appointments or professional qualifications; (2) he does not hold any position in the Company or any of its subsidiaries; (3) he does not have any relationships with any directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company or any of its subsidiaries; and (4) as of the date of this announcement, he does not hold any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance of Hong Kong.

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Mr. Zhuang Qianzhi will enter into a director's service contract with the Company. During his term of office, Mr. Zhuang Qianzhi will receive remuneration as a director according to relevant regulations of the Ministry of Finance and such remuneration including three parts, namely basic annual salary, annual performance bonus and incentive compensation during service, will be submitted to the shareholders' general meeting for approval after the end of each year.

Mr. Zhuang Qianzhi also confirms that there is no other information to be disclosed pursuant to the requirements under Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, nor is there any other matter relating to his appointment that needs to be brought to the attention of the shareholders of the Company.

A circular which includes, among other things, the information in relation to the above nomination and a notice of the general meeting will be dispatched to the shareholders as soon as practicable.

By order 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.

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