News Snapshot:
Giant Chinese technology conglomerate and fintech company Tencent is applying for a license to operate a reinsurance entity in China, according to reports in local media. It’s a natural step for the company which has already expanded successfully into direct to consumer insurance business. Tencent has leveraged its deep connections with customers through a range of technology and social platforms it owns, to bring them personal insurance products. WeSure, the insurance platform launched by the Chinese multinational conglomerate in 2017, had already acquired some 55 million users as of the end of 2019, counting more than 25 million as its...
