Alibaba's Jack Ma places bet on China's online insurance market
01-Oct-17, Nikkei Asian Review
When the heads of three of China's most prominent companies join hands to launch a start-up, investors notice. Jack Ma Yun of Alibaba Group Holding, Tencent Holdings' Pony Ma Huateng, and Peter Ma Mingzhe of Ping An Insurance Group - collectively known as the "three Ma's" - did just that.
%20Imagine%20China%20via%20AP%20images.jpg "Alibabas Jack Ma places bet on Chinas online insurance market (c) Imagine China via AP images")
Image: Imagine China via AP Images
Looking to turn Ping An into a full-blown financial technology company within ten years, Peter also enabled the growth of Lufax, which started as a peer-to-peer lending platform in 2011 and became one of the most valuable e-finance company worldwide as of September.
Four years ago they founded China's first online-only insurer. It was a company with an untested business model and making no money, but it sparked an investor frenzy.