Hong Kong, 4 May 2020 - Fubon Life Insurance (Hong Kong) Company Limited (“Fubon Life Hong Kong”) is delighted to announce our investment on ZA Life Limited (“ZA Life”), an InsurTech joint venture of ZhongAn Technologies International Group Limited ("ZA International") and Fubon Life Hong Kong, has reached a milestone stage of receiving Insurance Authority’s authorization to conduct online insurance business in Hong Kong.
Mr. Jerry Chou, Chief Executive Officer of Fubon Life Hong Kong and Director of ZA Life said, “Technology advancement has fundamentally changed the way we access information and manage our needs. In view of this, Fubon Life Hong Kong has been continuously looking for business development opportunities to meet the changing consumer landscape. With the timely Fast Track scheme of the Insurance Authority, insurance institutions have been given a great opportunity to steer and nurture the development of InsurTech. Based on these favorable conditions, Fubon Life Hong Kong and ZA International have therefore worked together to form the joint venture in the territory to provide consumers with self-managed life insurance services.
With ZA International’s strong track record in providing digital insurance services and Fubon Group’s profound experience in financial and insurance planning, the joint venture will bring together our strengths to create a compelling value proposition to customers and allow us to expand our reach to meet the growing mobile customer segment who prefers to purchase digitally.”
Fubon Life Hong Kong holds 35% of shares of ZA Life. Fubon Life Hong Kong and ZA Life will operate independently. Fubon Life Hong Kong will continue to provide insurance services to customers via our distribution channels while ZA Life will use the trade name “ZA Insure” to provide innovative products and services to customers.
About Fubon Group
Fubon Group was established in 1961 with headquarter based in Taiwan. The group has diversified business in financial services, property development, telecommunications & media, e-commerce, culture & creative sector, and philanthropy.
As the key business unit of the group, Fubon Financial Holding Co., Ltd. (“Fubon Financial Holdings”) (TWSE stock code: 2881) is a leading financial holding company offering banking, property and casualty insurance, life insurance and security brokerage services. Our financial business operations have extensive footprints in Asia.
About Fubon Life Hong Kong
Fubon Life Insurance (Hong Kong) Company Limited (“Fubon Life Hong Kong”) is a wholly owned subsidiary of Fubon Life Insurance, a leading insurer in Taiwan with total assets reaching US$141.2 billion as of December 2018.
Our company was authorized as a long term insurer in Hong Kong since 2016 to conduct life and savings insurance. The operations, along with other Asia business operations in South Korea, Vietnam and various major cities in China, are dedicated to serving our customers in Asia and supporting our group to establish its leading position in Asia.
Through our strategic partnership with banks and international & local brokerage firms, we are committed to helping customers in savings, protection and financial planning.
Telephone: 2516 0181