On October 23rd, Pan China Holdings Group (hereinafter referred to as "Pan China") announced a strategic partnership with Asia Insurance Limited (hereinafter referred to as "Asia Insurance") to jointly form two joint ventures, including an insurance brokerage company and an insurance technology company, both of which will be headquartered in Hong Kong. Pan China will hold 60% of the equity of these two joint ventures as the major shareholder.
According to the world insurance industry sigma report released by the Swiss Re research institute, in the long run, the focus of the global insurance industry continues to shift to 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.
Asia Insurance is headquartered in Hong Kong and is a wholly-owned subsidiary of Asia Financial Group. Winnie Wong, CEO and Executive Director of Asia Insurance, said, "The partnership established with Pan China is of great significance for Asia Insurance, marking an important step in further strengthening our network coverage in the Asia Pacific region
Regarding this strategic cooperation, Pan China Co Chairman and Chief Strategic Officer Lin Chuangbin said, "We are pleased to establish cooperation with Asia Insurance. As a leading insurance company in the Asia Pacific region, Asia Insurance has a deep understanding of the local market. The establishment of a joint venture in Hong Kong is an important milestone for Pan China in building a global layout and achieving its goal of becoming a leading intelligent technology driven financial service platform globally
Wen/Guangzhou Daily · New Flower City Reporter Zhao Dongqin