Chairman of Ping An Ma Zheming(left), Alibaba’s Jack Ma and Tencent’s Pony Ma (right) at the launch event

Alibaba, Tencent and Chinese insurance company Ping An officially launched Zhong An, an online insurance company jointly established by the three, today.

The company has obtained the very first license in China for operating online insurance business. The first products, expected to be released in December, will be for e-commerce and mobile payments, according to Yi Han, CEO of Zhong An. (source in Chinese)

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com