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English>>Business

Online insurer approved

(Global Times)

09:09, February 21, 2013

Zhong An Online Property Insurance Co, China's first online insurance company and a joint venture of Alibaba Group, Tencent Holdings Ltd, and Ping An Insurance Group has received regulatory approval, Alibaba confirmed Wednesday.

In 2012, property insurance in China earned 533.1 million yuan ($86 million) in premium income, up 15.44 percent year-on-year, higher than the insurance sector's average growth rate of 8 percent.

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Email|Print|Comments（Editor：MaXi、Liang Jun）

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