Ping An and Merian Global Investors Sign Historic Strategic Agreement

HONG KONG,Oct. 23,2018 -- Ping An Insurance (Group) Company of China,Ltd. (hereafter "Ping An" or the "Group",HKEx: 2318; SSE: 601318) today announced that Ping An of China Asset Management (Hong Kong) Company Limited,(Ping An Asset Management (Hong Kong)),the wholly-owned subsidiary of the Group signed a Memorandum of Understanding (MOU) with Merian Global Investors (UK) Limited (Merian Global Investors),the UK-headquartered asset management business.

Ping An and Merian Global Investors Sign Historic Strategic Agreement

The MOU marks the formal commencement of a new strategic partnership between the two businesses,bringing together their skills and expertise to the benefit of both organizations and their clients.

Having already achieved success through cooperation in providing investment advisory services (management of the Merian China Equity Fund was outsourced by Merian Global Investors to Ping An Asset Management (Hong Kong) in March 2018) the MOU aims to further the alliance between the businesses.

It is the first agreement of its type signed by both organizations and demonstrates the developing openness and consequent benefits of strategic relationships between both parties. Under the terms of the MOU,both parties will aim to work together to explore business development opportunities in the fund distribution,marketing and investment advisory space,including knowledge sharing and training.

Mr Hoi Tung,the Co-CIO of Ping An Insurance (Group) of China comments: "This strategic relationship actually marks the beginning of our successful transformation to becoming a truly third-party asset manager from purely managing our in-house insurance capital by leveraging our strength in local market knowledge and investment expertise. We are very excited about entering this strategic cooperation with Merian Global Investors and we look forward to continuing to forge a deeper and stronger relationship in the future."

Richard Buxton,CEO,Merian Global Investors comments: "We're thrilled to have entered into a new alliance with Ping An Asset Management (Hong Kong). Growing our presence in Asia is one of our core strategic aims and the opportunity to partner with one of China's largest and most respected financial services businesses is incredibly exciting. We believe that access to the local knowledge and investment advisory expertise of a specialist Chinese asset manager will be of great benefit to our clients. I have every confidence this will be a highly-rewarding partnership and I look forward to sharing more details on our joint activity in due course."

Andrew Heyn,British consul general to Hong Kong and Macao,adds: "I believe that the partnership Ping An Asset Management (Hong Kong) and Merian Global Investors are embarking upon today is an excellentdemonstrationof the developing interest between these nations' corporations and how this can benefit their clients and contribute to their future success."

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About Ping An

Ping An Insurance (Group) Company of China,Ltd. ("Ping An") is a world-leading technology-powered personal financial services group. With 179 million customers and 485 million Internet users,Ping An is one of the largest financial services companies in the world. Under its 'pan financial assets' strategy the company offers customers insurance,banking and asset management through its 'finance + technology' platform. Under its 'pan healthcare' strategy the company uses a 'finance + ecosystem' platform to offer Internet users five ecosystems,covering financial services,healthcare,auto services,real estate services and Smart City services. Ping An is committed to investing in innovative technologies in fintech,AI and cloud to provide customers and Internet users with innovative and simple products and services. As China's first joint stock insurance company,Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The company is listed on the stock exchanges in Hong Kong and Shanghai.

Ping An ranked 10th in Forbes' 2018 Global 2000,and it ranked 29th in Fortune Magazine's 2018 Global 500 Leading Companies. Ping An also ranked 43rd in 2018 WPP Millward Brown's BrandZTM Top 100 Most Valuable Global Brands. For more information,please visit www.pingan.cn

About Ping An Asset Management (HK)

Ping An of China Asset Management (Hong Kong) Co.,Ltd. was established in May 2006,and is a wholly-owned subsidiary of the Ping An Group (2318.HK). It holds the SFC Type 1,Type 4 and Type 9 licenses,and is approved for dealing in securities,advisory on securities and asset management services.

The main investment mandates received by Ping An Asset Management (HK) are from private clients,institutional clients and other subsidiaries of the Ping An Group. Additionally,Ping An Asset Management (HK) manages exchange-traded funds (ETFs) listed on the HKEX,as well as unit trust funds in the retail market. Ping An Asset Management (HK) also provides institutions with advisory services related to Qualified Domestic Institutional Investors (QDII) and Qualified Foreign Institutional Investors (QFII)/RMB Qualified Foreign Institutional Investors (RQFII).

About Merian Global Investors:

Merian Global Investors is a leading,independent,global asset management firm. The company as it is now known was formed in June 2018 when its management team,together with funds operated by the global growth private equity firm,TA Associates,acquired the "single-strategy" investment capabilities of Old Mutual Global Investors.

It is focused on delivering strong investment performance and customer-focused investment solutions that result in positive long-term outcomes. The business has no house view or CIO,allowing its fund managers the freedom to follow their own proven strategies. The business had assets under management of £34.6 billion,as at 31 August 2018.

Disclaimer- Ping An

This material and/or any comments opinion,statement,or information included in this material herein must not be used and/or relied upon for any investment decisions and related purposes. Certain information contained in this material is obtained and prepared from sources which Ping An believes to be reliable at best effort basis.

For enquiries,please contact:

Gareth Hewett @ +852 68822027 or gareth.john@pingan.com.hk

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