Marbridge Daily

<- August 24, 2012 ->

Alibaba, Tencent, Ping An CEOs Establish Insurance JV

Caixin, 8/24/12

Hangzhou-based e-commerce conglomerate Alibaba Group chairman Jack Ma, Tencent (0700.HK) chairman Pony Ma, and Ping An Insurance chairman Ma Mingzhe (no relation) reportedly plan to establish an online financial services company, and registered the unnamed firm in Shanghai.

While no details about the new firm have been divulged, one industry source claimed that Ma Mingzhe holds a 15% stake.

Editor's Note: Ma Mingzhe confirmed to Sina Tech that Ping An, Alibaba Group, and Tencent will establish an online insurance joint venture, which will provide insurance for virtual items.

 

Keywords:  Ma Mingzhe  financing  Jack Ma  Pony Ma  online insurance  Internet  virtual items  Tencent  JV  0700.HK  Alibaba Group  Ping An Insurance 

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