Strategic Partnership of Sompo Insurance and Asia Insurance

NEWS RELEASE

Sompo Insurance and Asia Insurance announce a strategic Joint

Co-operation of medical insurance business in Hong Kong

Hong Kong – December 31, 2021 – Sompo Insurance Hong Kong Co., Ltd. (“SOMPO") and Asia Insurance Company Limited (“Asia Insurance”) will enter into a strategic partnership to further develop medical insurance business in the Hong Kong market on January 1, 2022.

SOMPO continues to be at the forefront of service to provide the best solutions to customers at any time. Backed by Asia Insurance’s healthcare underwriting expertise, the partnership will provide a one-stop service on policy and claims management for bringing the medical insurance services  to the next level.

Asia Insurance will also offer a broad range of personal medical insurance products and additional insurance plans, e.g. VHIS (Voluntary Health Insurance Scheme) for SOMPO’s customers, in order to offer a more comprehensive protection based on existing corporate insurance services.

Commenting on this strategic partnership, Mr. S.K. Li, Chief Executive Officer of SOMPO, said, "We are delighted to have successfully reached this collaboration with Asia Insurance. Through this co-operation, our company's strength in medical insurance services will be further enriched. At the same time, it can also fulfil the needs of Japanese customers who are developing businesses in Hong Kong. Bundling SOMPO’s bonding client relationship with Asia Insurance’s rich experience on providing healthcare management services through the claims service platform, it will be more conducive to expanding the Japanese customer base in the Hong Kong market, bringing more business opportunities for both companies and achieving a win-win situation.”""

On the other side, Ms. Winnie Wong, CEO and Executive Director of Asia Insurance, said, "We are proud to partner with SOMPO, one of the best Japanese insurance companies with long history and strong customer proposition among Japanese companies in Hong Kong. Through this successful partnership, we will continue to provide reliable and professional medical insurance solutions to clients by leveraging our strong network partnerships among the local medical service providers, including CUHK Medical Centre.”

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Media Contact

For Asia Insurance:

Linda Lau

Vice President, Head of Strategic Partnership, Employee Benefits

Asia Insurance Company, Limited

lindalau@afh.hk

For Sompo Group:

Toshio Akai

Deputy Chief Marketing Officer

Sompo Insurance (Hong Kong) Co., Ltd.

takai@sompo.com.hk

David Lo

Chief Marketing Officer

Sompo Insurance (Hong Kong) Co., Ltd.

 david.lo@sompo.com.hk

About Asia Insurance Company, Limited

Asia Insurance was established in 1959 and has been rooted in Hong Kong over 60 years. It is a wholly-owned subsidiary of Asia Financial Holdings Limited (HKEX: 662). Asia Insurance is now one of the leading general insurers in Hong Kong providing a board range of insurance products with a focus on coverage and care. It is noted for its financial strength - strong capitalization, high liquidity, and a Standard & Poor's “A” rating.

About Sompo Insurance (Hong Kong) Co., Ltd.

Sompo Insurance (Hong Kong) Co., Ltd. is a member of the Sompo Holdings Group. Sompo Holdings is listed on the Tokyo Stock Exchange in Japan and Sompo Japan Insurance is rated ”A+” by Standard & Poor's (S&P). The Hong Kong office was set up as early as 1957 to develop local business. In 1977, the Hong Kong subsidiary was formally established and now is one of the major corporate risk carriers with a credit rating of “A” (S&P).

As a leading non-life insurance company globally for more than 100 years, the Sompo Holdings Group has forged strategic partnerships to access a wider network of resources and distribution to provide the best solutions for our customers, while keeping up with the evolving trends of digitalisation and innovation. We strive to contribute to the security, health and wellbeing of our stakeholders, customers, and society by providing more than just insurance. The Group operates its overseas business in 28 countries and regions worldwide, including the Americas, Europe, Middle East, Africa, Asia, and Oceania.