Zhibao Labuan Re Expands into Hong Kong and Southeast Asia

Zhibao Technology Inc., a leading high-growth InsurTech company, has announced significant progress in expanding its reinsurance subsidiary, Zhibao Labuan Reinsurance Company Limited, into Hong Kong and Southeast Asian markets. This strategic move is part of the company’s broader overseas expansion plans and aims to capture high-value reinsurance business outside mainland China.

Incorporated in Labuan, Malaysia in 2024, Zhibao Labuan Re holds a General Reinsurance license from the Labuan Financial Services Authority. The subsidiary is collaborating with a top global reinsurer based in Singapore and a leading Chinese state-owned insurer in Hong Kong on cross-border reinsurance arrangements. These arrangements cover key product lines, including medical, accident, property, and liability risks.

According to the press release, Zhibao Labuan Re is leveraging the parent company’s strengthened balance sheet position, following the closing of a PIPE (Private Investment in Public Equity) transaction. This financial strength is expected to accelerate business development and enhance the subsidiary’s underwriting capacity. The company anticipates that these strategic partnerships will significantly boost its regional capacity and risk-transfer capabilities.

Zhibao Technology Inc. is a pioneer in the 2B2C digital embedded insurance model in China. The company launched its first digital insurance brokerage platform in 2020, powered by its proprietary Platform as a Service (PaaS). Over the years, Zhibao has developed over 40 proprietary and innovative digital insurance solutions, addressing various scenarios in industries such as travel, sports, logistics, utilities, and e-commerce. The company continues to utilize big data and AI technology to continually improve its digital insurance solutions and stay ahead of market trends.

In a forward-looking statement, the company notes that while it does not have a concrete estimated premium income associated with the potential treaties, they are expected to generate significant premium income in the coming years. Zhibao Technology Inc. remains committed to expanding its reinsurance business and strengthening its market position in Hong Kong and Southeast Asia.