HKLII Hong Kong Regulations

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SECURITIES AND FUTURES (INSURANCE) RULES - SCHEDULE 3

SPECIFIED CREDIT RATINGS

[section 2]

1. A Moody's Investors Service rating of A or above for Long-Term Insurance
Financial Strength. 2. A Standard & Poor's Corporation rating of A or above
for Insurer Financial Strength. 3. A Fitch Ratings Limited rating of A or
above for Insurer Financial Strength.



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