Online insurance firm to start work
Source: Shanghai Daily |
October 18, 2013, Friday
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Print Edition
Print Edition
China’s first online insurance company co-invested by Alibaba, Tencent, and Ping An Insurance (Group) Co has been approved to start operating by the China Insurance Regulatory Commission.
Zhong An Online Property and Casualty Insurance Company Ltd will offer insurance products for Internet business operators and users, according to a statement on the CIRC’s website. A notice on Shanghai Administration for Industry and Commerce’s website said Zhong An has a registered capital of 1 billion yuan (US$164 million) and is headquartered in Shanghai’s Bund area.
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