Our reporter Leng Cuihua
On October 23rd, independent third-party financial service provider Pan China Holdings Group (referred to as "Pan China") announced a strategic partnership with Asia Insurance Limited (referred to as "Asia Insurance") to jointly establish two joint ventures, including an insurance brokerage company and an insurance technology company, both of which will be headquartered in Hong Kong, China. Pan China will hold 60% equity in each of these two joint ventures as a major shareholder.
The Sigma report on the world insurance industry released by the Swiss Re research institute shows that in the long run, the focus of the global insurance industry continues to shift towards Asia. By 2029, the insurance market in the entire Asia Pacific region will account for 42% of global premiums. In recent years, insurance professional intermediary channels have continued to grow against the trend with impressive growth rates, and in the Asian region, they are a blue ocean.
Pan China Joint Chairman and Chief Strategic Officer Ben Lin said, "With 25 years of experience in the insurance industry and large-scale IT investment in the past 5 years, Pan China has created an industry-leading IT infrastructure for life insurance sales. Pan China's leading advantage in the technology field enables us to effectively serve the brokerage market in Hong Kong, China and other regions of Asia." He then stated that establishing a joint venture in Hong Kong, China is Pan China's goal of building a global layout An important milestone in achieving the goal of becoming a globally leading intelligent technology driven financial service platform.