Ping An eyes markets in Asean; uses tech to turn banks into allies

Singapore

PING An International has arrived squarely in Asean and will look to expand through banks in this part of the world, with the Chinese behemoth already speaking to about 30 top lenders in the region to sell its technology expertise, said a top executive.

But the firm - one of China's largest insurers - will stop short of being labelled as a bank, said Jessica Tan, deputy chief executive officer of Ping An Insurance Group. Instead, it is latching on to the "exponential" growth from exporting technology across Asean markets and for critical application in areas of healthcare, SME lending, and investing.