Zhibao Technology, an InsurTech that primarily engages in providing digital insurance brokerage services, has announced the establishment of Zhibao Labuan Reinsurance Company.
Zhibao Labuan received its licence to seek to undertake general reinsurance operations beyond mainland China from the Labuan Financial Services Authority on 14 April 2025.
The new reinsurance arm will enable the company to potentially tap into an additional revenue stream through reinsurance premiums and the potential for underwriting profits based on the performance of the reinsured policies. Zhibao Labuan may also generate income from reinsurance premiums, in line with standards established by local regulators.
The target is for Zhibao Labuan to eventually participate in about a small portion of the total insurance premium generated by Sunshine Insurance Brokers and Zhibao Health.
“I am pleased to announce the establishment of Zhibao Labuan, which provides us with the opportunity to earn additional revenue and profits through reinsurance premiums and potential underwriting deals,” said Zhibao CEO Botao Ma.
“I believe Zhibao Labuan opens up a new frontier for revenue that presents unique opportunities to Zhibao. Additionally, I am excited about seeking to gaining access to the thriving insurance market in Labuan, Malaysia – a well-established, internationally regarded hub for insurance and reinsurance providers.”
Mr Ma added, “With the formation of Zhibao Labuan, I believe we position ourselves as an innovator in an industry where it is traditionally uncommon for a brokerage company to establish a risk-carrying entity.
“Our upstream subsidiaries, which are intimately familiar with their customers’ needs and the underwriting terms of the policies, will participate in selecting the business for inclusion in Zhibao Labuan.
“This initiative not only provides a vote of confidence in the quality of our business but also aligns our interests with those of our insurance and reinsurance partners. In cases where local insurance carriers are unable to meet the customisation needs of our customers, Zhibao Labuan can leverage our accumulated data and deep market knowledge to lead on pricing and product development, ensuring that we deliver the highest quality and most appropriate products to our customers”