First online insurer authorized

Zhong An Online Property Insurance, whose operations are entirely conducted online, is the first insurance company to be approved by the Chinese authorities.
Licensed last October, the company specializes in the distribution of insurance products related to the risks of trade online or to phone payments. It also distributes policies for companies and individuals that carry out financial transactions online.

Among the shareholders are reference groups such as Alibaba Group Holding (giant internet commerce), Ping An Insurance and Tencent Holdings, second internet operator in the country. The capital of the company amounts to 164 million USD.