Zhibao Technology announced that its reinsurance subsidiary, Zhibao Labuan Reinsurance Company (Zhibao Labuan Re), is expanding its operations into Hong Kong and Southeast Asia.
According to a statement on NASDAQ, Zhibao Labuan Re is collaborating with a top global reinsurer in Singapore and a leading Chinese state-owned insurer in Hong Kong.
Potential treaties are expected to cover key product lines, including medical, accident, property and liability risks. While Zhibao Labuan Re does not have a concrete estimated premium income associated with these potential treaties, they are expected to generate significant premium income in the coming years.
Zhibao Labuan Re was incorporated in Labuan, Malaysia in 2024, and holds a General Reinsurance license from the Labuan Financial Services Authority.