Cloud Computing, Internet Datacenters and Big Data Business Intelligence from China

Alibaba, Tencent, Ping An Join Hands For Insurance JV In China

Ma Mingzhe, chairman of Ping An Insurance (Group) Company of China, Ltd, confirmed to Chinese local media that the company has cooperated with Alibaba Group and Tencent Group in the establishment of a new insurance joint venture for Chinese consumers.

The new JV will reportedly focus on the Internet insurance businesses, including insurance for Internet virtual items.

According to Ma, he had made several rounds of communications with chief executive officer of Alibaba Jack Ma and chief executive of Tencent Ma Huateng. He said the Internet trading amounts are usually small and cannot meet the cost of an insurance policy. However, the virtual value of online games does exist and they can shift from physical business to the Internet.

Ma Mingzhe believes this move is a creative attempt by Ping An, Alibaba, Tencent, and other shareholders. They hope to create a new insurance channel with Alibaba and Tencent’s Internet advantages.

At present, the new JV is undergoing its regulatory application process and no firm date has been mentioned for the opening of the service.

Share this news:

Be the first to comment on "Alibaba, Tencent, Ping An Join Hands For Insurance JV In China"

Leave a comment

Your email address will not be published.


  Other China News

Nokia Phone Returns To China Via Exclusive Sales Channel

Artificial Intelligence Experts Join Sinovation Ventures

Apple's Struggles Drop Foxconn's Revenue 2.81% In 2016

Artificial Intelligence Guru Finds Search Engine Baidu


Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco