On May 9, the China Banking and Insurance Regulatory Commission issued a reply regarding the change of shareholders of Yi'an Property Insurance Co., Ltd., approving BYD Auto Industry Co., Ltd. to acquire 1 billion shares of Yi'an Property Insurance, with a shareholding ratio of 100%.
NIO's insurance brokerage company, established in January 2022, recently initiated a simple cancellation. The registered capital of the company is 50 million yuan ($7.25 million).
On March 13, FWD Group, the Hong Kong-based insurer backed by tycoon Richard Li Tzar-kai, resubmitted its application to be listed on the Hong Kong Stock Exchange.
According to Chinese commercial information query platform Tianyancha, BYD's proposed acquisition worth 3.6 billion yuan ($530 million) for Yi'an Property Insurance Co., Ltd. was put in place on January 31. BYD will acquire 100% equity of the Internet insurance company.
Following the listing of Waterdrop on the NYSE in 2021, nearly two years later, another Chinese insurance technology company, Cheche Group, announced that it would complete its listing in the United States within this year.
Chinese electric vehicle maker NIO, which set up a subsidiary insurance brokerage firm at the beginning of this year, has recently acquired another insurance company that was established eight years ago.
The positions of legal representative and chairman of Ant Group's insurance agency company have recently been changed to Zhang Yu, Vice President of Ant Group. This marks another key executive change to the platform since April 2021.
Shen Peng, the founder of insurance tech platform Waterdrop Inc., said at a forum in Singapore that when exploring overseas markets, Chinese companies cannot copy China's prevailing "996" work culture – a 12 hours per day, six days per week working schedule.
Liu Jiaming, Chairman of Tencent's WeSure, an insurance platform, officially left the job on July 15, and will soon join Animoca Brands, a Hong Kong-based mobile game development company, as the chief commercial officer (CBO).
Since the beginning of this year, many Chinese new energy vehicle companies have entered the insurance industry by acquiring or setting up insurance brokers.
According to Tianyancha APP, NIO Insurance Brokerage Co., Ltd. has been recently established with a registered capital of 50 million yuan ($7.9 million). The brokerage is 100% controlled by Chinese EV maker NIO.
Waterdrop, a platform dedicated to insurance and healthcare service, today reported a net operating revenue YoY increase of 38.0% to 939.4 million yuan ($145.5 million) in the second quarter of this year.
In last week’s VC news, Shanghai-based semiconductor developer InnoStar Semiconductor raises a hefty pre-A round, medtech startup StoneWise completes two back-to-back rounds totalling $100 million and medical insurance firm Waterdrop prepares for listing in New York.
Jack Ma, founder of China’s fintech giant Ant Group, and two other executives were summoned on Monday by China’s top financial regulators for talks.
Chinese online InsurTech company Waterdrop Inc. is planning for an initial public offering in the US in the first quarter of 2021, expected to raise approximately $500 million.
As Chinese subways remain relatively desolate, Didi’s been the transportation option of choice for many Chinese who would much rather take the risk of riding a car with just one person than a subway cart with a dozen.
Huize Holdings is a Shenzhen-based an online insurance cpmpany that aggregates insurance products and aims to provide a seamless user experience targeting the younger generation.
WeChat Pay and Alipay have increased their utility for Chinese citizens by integrating with the country’s national healthcare system.