New Hong Kong reinsurer launched by China’s Tencent

A new reinsurer has been formed in Hong Kong backed by Chinese multinational technology conglomerate holding company, Tencent Holdings.

FuSure Reinsurance Company Limited, formed on May 25, has obtained a license to provide reinsurance services in Hong Kong. It has been launched with some HK$1 billion ($130 million) of capital.

Although based in Hong Kong, it appears that FuSure Reinsurance will write business globally.

Tencent is a financial technology company that develops a number of consumer-orientated internet-based innovations.

In June last year, Ren Huichuan, a senior executive at China’s Ping An Group, joined the business prompting speculation it would look to launch an insurance venture.

Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

Insurance

Growing pains and teenage tantrums: watching cyber risk come of age

14 May 2021 As the cyber insurance market matures, it will need both standardisation and innovation to sustain its growth. But even those things won’t necessarily protect the market from some difficult times as the market develops.

Insurance

Forget P&C business—add an extra C for cyber

14 May 2021 As the world marches towards an increasingly interconnected future, cyber will become one of the biggest risks that companies will need to manage—and insurers will need to qualify, price and underwrite. This will mean a fundamental shifting of the portfolio mix for most insurers.

Reinsurance broker Juniper Re enters London market with ex-Guy Carp/Willis Re veteran

Reinsurers on the hook for just 3% of LA wildfire insurance losses

BMA licenses Mereo companies

Zurich NA rolls out specialty unit, function under new three-year plan

IUA to focus on sustainability, cyber risks in 2025

Gallagher Re draws New Re casualty veteran to bolster EMEA offering

M&A to rebound in 2025 but buyers stay cautious: Gallagher Specialty

AXA XL launches wage & hour policy

New Hong Kong reinsurer launched by China’s Tencent

More on this story

Editor's picks

Editor's picks

More articles