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Simpson Thacher represented J.P. Morgan Securities plc, as sole global coordinator, joint bookrunner and joint lead manager, Merrill Lynch International, LLC Seoul Branch, Nomura International (Hong Kong) Limited, UBS AG Hong Kong Branch, as joint bookrunners and joint lead managers and Hanwha Investment & Securities Co., Ltd., as joint lead manager, in connection with the offering of US$1 billion Subordinated Capital Securities by Hanwha Life Insurance Co., Ltd. The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933, as amended. The securities will pay a fixed rate of interest of 4.7% for the first five years subject to certain exceptions and the interest rate will be reset every five years unless the issuer redeems the securities. 

Hanwha Life Insurance is the second largest life insurance company in Korea as measured by total gross premiums in 2017.

The Simpson Thacher team for the transaction included Youngjin Sohn and John Hahn (Corporate); Jonathan Cantor and Brian Mendick (Tax).