Ping An Launches $1 Billion Fund to Invest in Financial, Health-Care Technology

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.

Write to Grace Zhu at

(END) Dow Jones Newswires

May 04, 2017 01:09 ET (05:09 GMT)