The board of directors of Target Insurance (Holdings) Limited (the ‘Company') announced that Mr. Leung Ho Yin Alexander (‘Mr. Leung') has resigned as (i) an independent non-executive Director with effect from 7 January 2022; and (ii) an independent non-executive director of Target Insurance Company, Limited, being a direct wholly owned subsidiary of the Company, with effect from 5 January 2022; and Ms. Lau Ka Yee (‘Ms. Lau') has resigned as an executive Director, the chief financial officer of the Company and all positions in the subsidiaries of the Company, with effect from 7 January 2022. Upon the resignation of Mr. Leung, he will also cease to be the chairman of the remuneration committee and risk committee of the Company and a member of the audit committee and nomination committee of the Company.