Ping An to list tech, internet units

Insurance company to invest $7.54b in development of innovative products

Ping An Insurance Group Co of China Ltd is planning to spin off and list its technology and internet units separately and set up more financial services platforms as part of a strategic transformation plan, the company said on Monday.

Jessica Tan, deputy chief executive and the chief operating officer and chief information officer, said Ping An is transforming by applying biometrics, big data, artificial intelligence and blockchain and iCloud technologies to empower four business ecosystems - financial services, healthcare services, automobile services and real estate finance.