Ping An Invests in Joonko to Modernize Financial Services in Europe

News provided by

Ping An Insurance (Group) Company of China, Ltd.

Sep 16, 2019, 08:30 ET

HONG KONG and SHANGHAI, Sept. 16 2019 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEX: 2318; SSE: 601318) is pleased to announce Ping An Global Voyager Fund is investing Joonko, the new digital financial portal from finleap, Europe's leading fintech ecosystem.

Joonko is the digital financial portal that helps European consumers to choose the right financial products for their personal saving and protection needs. The portal will be launched at the end of 2019 with its first product: car insurance. Ping An invested in finleap in 2018 and has had significant involvement in developing Joonko's strategy and technology capabilities.

Donald Lacey, Managing Director and COO of Ping An's Global Voyager Fund, said, "We're pleased to cement a relationship with Joonko that includes both growth capital and technological support. To us, Joonko represents the logical evolution of financial digitalisation in Europe. It's the right approach to innovation in retail financial services: a next generation solution designed to benefit consumers and financial product providers alike."

Dr. Carolin Gabor, CEO of Joonko, explains, "With the strategic expertise of our investors, technical know-how and an incredibly passionate team, Joonko will quickly become one of the top players in the financial community. The platform is convenient, totally transparent, and operates on the principle of fairness to both consumers and financial product providers. This is the kind of vision for digital finance that Europe's consumers deserve."

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With 196 million retail customers and 576 million Internet users, Ping An is one of the largest financial services companies in the world.

Ping An has two over-arching strategies, "pan financial assets" and "pan healthcare," which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems of financial services, health care, auto services, real estate services and smart city services. Our "finance + technology" and "finance + ecosystems" strategies aim to provide customers and internet users with innovative and simple products and services. As China's first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The Company is listed on the stock exchanges in Hong Kong and Shanghai.

Ping An ranked 7^th on the Forbes Global 2000 list and 29^th on the Fortune Global 500 list. Ping An also ranked 40^th on the 2019 WPP Millward Brown BrandZ^TM Top 100 Most Valuable Global Brands list. For more information, please visit www.pingan.cn.

About Ping An Global Voyager Fund

Established in 2017 by Ping An Insurance (Group) Company of China, Ltd ("Ping An"), the Ping An Global Voyager Fund is a Hong Kong-based investor in growth stage fintech and healthtech companies. The fund typically invests between US$15 and US$50 million in non-control positions in companies where an affiliation with Ping An is likely to create significant mutual value over time. As at September 2019, the Fund has invested approximately US$250 million across Europe, North America, China and Israel.

About Joonko

Joonko is the digital financial portal that enables consumers to find the financial and insurance products that match their needs. Inspired by the willpower and strength of Junko Tabei, the first woman to climb Mount Everest, Joonko has set the goal of removing all obstacles their customers face when switching and taking out their car insurance. Further financial products will follow. Joonko was founded in 2019 and is led by Dr. Carolin Gabor (CEO), Dr. Andreas Schroeter (COMO) and Eric Lange (CTPO).

For enquiries, please contact:

Gareth Hewett @ +852 68822027 or [email protected]
Cecile Zhang @ +852 66813178 or [email protected]

SOURCE Ping An Insurance (Group) Company of China, Ltd.