Ping An and Fortis to enter into a global asset management partnership

Ping An intends to acquire a 50% stake in Fortis Investments Fortis and Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or "Ping An Group") today jointly announced the signing of a Memorandum of Understanding ("MOU") to form a global asset management partnership. Ping An intends to acquire a 50% equity stake in Fortis Investments*, the global asset management arm of Fortis, for a consideration of EUR 2.15bn (RMB 24.02bn**). Through this partnership, Ping An would significantly advance its strategy to establish a global asset management business and a Qualified Domestic Institutional Investor ("QDII") platform while Fortis would significantly accelerate the development of its business in both China and Asia Pacific. Fortis Press Contacts: Brussels: +32 (0)2 565 35 84 Utrecht: +31 (0)30 226 32 19 Investor Relations : Brussels : +32 (0)2 565 53 78 Utrecht : +31 (0)30 226 65 66 To read the entire press release, please click on the link below: