BEIJING – Ping An Insurance (Group) Co. of China Ltd. said Thursday it is launching a $1 billion fund to invest in financial and health-care technology globally, in a bid to further expand its business outside the domestic market.
The Shenzhen-based insurer also appointed Jonathan Larsen, a former banker at Citigroup, as Ping An’s innovation officer and chief executive of the new fund, “Ping An Global Voyager Fund,” according to a company statement.
Ping An has previously invested in Chinese online lender Lufax and health app Ping An Good Doctor.
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(END) Dow Jones Newswires
May 04, 2017 01:09 ET (05:09 GMT)