The collaboration focuses on supporting the growth of Hong Kong’s auto insurance market, particularly for new energy vehicles, by sharing market insights, distribution channels, and technical expertise.
The agreement, signed on Jan. 9, aims to combine the strengths of the three companies to enhance insurance services for electric and other new energy vehicles in Hong Kong. Key initiatives include:
AXA plans to use its established distribution networks to support Chinese enterprises in scaling their businesses in Hong Kong while addressing emerging risks in the new energy vehicle sector.
Senior executives from the three organisations attended the signing ceremony, including:
Yu Ze highlighted the significance of the agreement, describing it as a step toward enhancing collaboration between Hong Kong and mainland China’s insurance sectors. He emphasised that the partnership could improve the international competitiveness of insurance companies in the region and promote mainland China’s auto and supply chain industries globally.
“Furthermore, it will aid in the development of a high-quality framework for mainland China’s insurance industry that embraces two-way opening up,” he said.
Kenneth Lai (pictured second from left) said that the partnership underscores AXA’s commitment to green finance and sustainability.
“We will leverage our global resources and professional expertise to support the development of related businesses in Hong Kong through our well-established distribution network. This partnership will enhance AXA's risk management capabilities for new energy vehicle insurance in Hong Kong,” he said.
He added that the collaboration would also contribute to the sustainable growth of the broader insurance industry.
“We look forward to deepening our connections with PICC Property and Casualty, building closer relationships, and jointly bolstering the sustainable development of the insurance industry,” Lai said.
