JD.com Obtains Hong Kong Insurance Brokerage License, Sources Say
Listen to the full version
JD.com Inc. is making a foray into Hong Kong’s insurance sector, having recently obtained an insurance brokerage license and begun building a team, sources close to the company told Caixin.
The move positions the e-commerce titan to capitalize on a boom in visitors from the Chinese mainland buying insurance policies in Hong Kong.
The city’s mature and flexible products have become especially attractive, as relatively high U.S. dollar interest rates and falling rates on the mainland have highlighted the advantages of Hong Kong’s dividend-paying policies. Last year, mainland visitors snapped up new policies with premiums totaling HK$62.8 billion ($8 billion), the highest since 2016, according to the Insurance Authority.
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
- DIGEST HUB
Digest Hub
Back
- JD.com has obtained an insurance brokerage license in Hong Kong and is building a local team.
- Mainland Chinese visitors bought HK$62.8 billion ($8 billion) in new Hong Kong insurance policies in 2023, the highest since 2016.
- JD.com is also recruiting for wider financial sector roles in Hong Kong, including asset management and compliance positions.
- JD.com Inc.
- JD.com Inc. is expanding into Hong Kong's insurance sector, securing an insurance brokerage license and recruiting staff for roles like insurance support manager and marketing director. This move aims to leverage the growing interest from mainland Chinese visitors in Hong Kong's insurance products. The e-commerce giant also seems to be exploring broader financial services, based on its recruitment for asset management and financial business positions.
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新